REGISTERED NUMBER: 10534201 (England and Wales)

Drylock Technologies Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B Van Malderen

Mr J Van Malderen

REGISTERED OFFICE:

The Annexe

New Barnes Mill

Cottonmill Lane

St Albans

Hertfordshire

AL1 2HA

REGISTERED NUMBER:

10534201 (England and Wales)

AUDITORS:

SMH Jolliffe Cork Audit Ltd

Accountants & Statutory Auditors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

15,633

15,315

CURRENT ASSETS

Debtors

5

380,703

307,037

Cash at bank

497,641

365,232

878,344

672,269

CREDITORS

Amounts falling due within one year

6

322,797

300,070

NET CURRENT ASSETS

555,547

372,199

TOTAL ASSETS LESS CURRENT LIABILITIES

571,180

387,514

PROVISIONS FOR LIABILITIES

-

1,712

NET ASSETS

571,180

385,802

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

570,180

384,802

SHAREHOLDERS' FUNDS

571,180

385,802

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

Mr B Van Malderen - Director

1.	STATUTORY INFORMATION

Drylock Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised in respect of intermediary services provided, using a cost + model, to the wider Drylock Technologies group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

33% on cost and 20% on cost

Fixed assets are initially recorded at cost.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates an auto-enrolment pension scheme on behalf of its employees and makes defined contributions into the scheme. Contributions payable are charged to the profit and loss account in the period to which they relate.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

& equipment

£

COST

At 1 January 2024

38,717

Additions

6,695

At 31 December 2024

45,412

DEPRECIATION

At 1 January 2024

23,402

Charge for year

6,377

At 31 December 2024

29,779

NET BOOK VALUE

At 31 December 2024

15,633

At 31 December 2023

15,315

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

321,962

271,870

Deferred tax debtor

4,493

-

VAT

17,044

13,305

Prepayments and accrued income

37,204

21,862

380,703

307,037

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

33,183

12,977

Amounts owed to group undertakings

250,000

119,997

Tax

11,270

86,123

Other creditors

7,741

6,765

Accruals and deferred income

20,603

74,208

322,797

300,070

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

52,901

52,901

Between one and five years

26,042

78,943

78,943

131,844

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jane Crossley FCA CTA (Senior Statutory Auditor)

for and on behalf of SMH Jolliffe Cork Audit Ltd

10.	PENSION COMMITMENTS

The company operates an auto-enrolment pension scheme on behalf of its employees and makes defined contributions into the scheme. The assets of the scheme are held separately from those of the company. At the balance sheet date, unpaid contributions of £4,280 (2023 - £2,801) were due to the fund. They are included in other creditors.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B Van Malderen.