REGISTERED NUMBER: 12486733 (England and Wales)

Drypool Limited

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Rix

Miss S J Rix

R M A Clarke

R E Wilde

H J Rix

M Fry

REGISTERED OFFICE:

2 Humber Quays

Wellington Street West

Hull

East Yorkshire

HU1 2BN

REGISTERED NUMBER:

12486733 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

258,562

275,424

Investment property

5

8,515,703

8,516,020

8,774,265

8,791,444

CURRENT ASSETS

Debtors

6

160,360

100,000

Cash at bank

101,356

397,622

261,716

497,622

CREDITORS

Amounts falling due within one year

7

3,711,946

2,826,502

NET CURRENT LIABILITIES

(3,450,230

)

(2,328,880

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,324,035

6,462,564

CREDITORS

Amounts falling due after more than one year

8

4,989,609

6,197,324

PROVISIONS FOR LIABILITIES

44,554

32,634

CAPITAL AND RESERVES

Called up share capital

10

10

10

Retained earnings

289,862

232,596

SHAREHOLDERS' FUNDS

289,872

232,606

5,324,035

6,462,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 22 September 2025 and were signed on its behalf by:

T J Rix - Director

R E Wilde - Director

1.	STATUTORY INFORMATION

Drypool 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.

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.

Tangible fixed assets

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

Plant & machinery - Straight line over 5 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

337,255

DEPRECIATION

At 1 January 2024

61,831

Charge for year

16,862

At 31 December 2024

78,693

NET BOOK VALUE

At 31 December 2024

258,562

At 31 December 2023

275,424

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

8,516,020

Additions

(317

)

At 31 December 2024

8,515,703

NET BOOK VALUE

At 31 December 2024

8,515,703

At 31 December 2023

8,516,020

If the investment properties had not been revalued they would have been included at the following historical cost:

Freehold

£

HISTORICAL COST

At 31st December 2021

4,680,161

The investment property portfolio was valued by the directors at fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

60,360

-

Other debtors

100,000

100,000

160,360

100,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

19,430

29,810

Taxation and social security

31,874

18,391

Other creditors

3,660,642

2,778,301

3,711,946

2,826,502

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

4,989,609

6,197,324

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other creditors

5,723,664

6,669,294

Within other creditors are loans secured by first legal charges over the investment properties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

8

A Ordinary

£1

8

8

1

B Ordinary

£1

1

1

1

C Ordinary

£1

1

1

10

10

On the 2nd March 2020 a special resolution was made whereby:

A and B shareholders are entitled to dividends, C shareholders are not entitled to dividends.

A and B shareholders are not entitled to vote at any general meeting but they are entitled to receive notice of any general meetings and can attend but not vote. In respect of a show of hands, C shareholders are entitled to one vote each of the shares they hold. In respect of a poll, each holder of C shares is entitled to one vote.