Dragon Shipping Limited 14378195 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the provision of maritime management services. Digita Accounts Production Advanced 6.30.9574.0 true false true 14378195 2024-01-01 2024-12-31 14378195 2024-12-31 14378195 core:CurrentFinancialInstruments 2024-12-31 14378195 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 14378195 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 14378195 core:FurnitureFittingsToolsEquipment 2024-12-31 14378195 bus:SmallEntities 2024-01-01 2024-12-31 14378195 bus:Audited 2024-01-01 2024-12-31 14378195 bus:FilletedAccounts 2024-01-01 2024-12-31 14378195 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14378195 bus:RegisteredOffice 2024-01-01 2024-12-31 14378195 bus:Director1 2024-01-01 2024-12-31 14378195 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14378195 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 14378195 core:OfficeEquipment 2024-01-01 2024-12-31 14378195 1 2024-01-01 2024-12-31 14378195 countries:EnglandWales 2024-01-01 2024-12-31 14378195 core:CostValuation 2023-12-31 14378195 core:FurnitureFittingsToolsEquipment 2023-12-31 14378195 2022-09-27 2023-12-31 14378195 2023-12-31 14378195 core:CurrentFinancialInstruments 2023-12-31 14378195 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14378195 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 14378195 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14378195

Dragon Shipping Limited Financial Statements for the Year Ended 31 December 2024
Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Dragon Shipping Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Financial Statements | 3 to 7

Dragon Shipping Limited

Company Information

Director | I Zatoplyayev

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Auditor | Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Dragon Shipping Limited

Statement of Financial Position as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 285 | 370
Investments | 6 | 1,056 | 1,056
|  | 1,341 | 1,426
Current assets |  |  |
Debtors | 7 | 18,360 | 14,085
Cash at bank and in hand |  | 23,833 | 43,118
|  | 42,193 | 57,203
Creditors: Amounts falling due within one year | 8 | (137,341) | (39,775)
Net current (liabilities)/assets |  | (95,148) | 17,428
Total assets less current liabilities |  | (93,807) | 18,854
Creditors: Amounts falling due after more than one year | 8 | (216,504) | (167,945)
Net liabilities |  | (310,311) | (149,091)
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | (310,312) | (149,092)
Shareholders' deficit |  | (310,311) | (149,091)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director of Dragon Shipping Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 17 March 2026

.........................................

I Zatoplyayev

Director

Company registration number: 14378195

Dragon Shipping Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of maritime management services.

2 | Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 17 March 2026 was Richard Smith, who signed for and on behalf of Brebners.

3 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Disclosure of long or short period

The financial statements were prepared for the 12 month period to 31 December 2024. The comparatives relate to the period from 27 September 2022 to 31 December 2023.

Dragon Shipping Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Going concern

The company made a loss for the period ended 31 December 2024 with net liabilities amounting to £310,311 at that date.
The company has few fixed overheads. Fellow group undertakings have agreed to continue to support the company and to provide further working capital if required. The amount due to the group in greater than one year is due for repayment in various dates in 2026 and 2027 and the director is confident that repayment dates can be renegotiated if necessary.
Taking the above into account and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as income.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 20% straight-line

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Dragon Shipping Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4 | Staff numbers

The average number of persons employed by the company during the year was 1 (2023 - 1).

5 | Tangible assets

| Office equipment £
Cost or valuation
At 1 January 2024 | 423
At 31 December 2024 | 423
Depreciation
At 1 January 2024 | 53
Charge for the year | 85
At 31 December 2024 | 138
Carrying amount
At 31 December 2024 | 285
At 31 December 2023 | 370

Dragon Shipping Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6 | Investments

| 2024 £ | 2023 £
Investments in subsidiaries | 1,031 | 1,031
Investments in associates | 25 | 25
| 1,056 | 1,056

Subsidiaries | £
Cost
At 1 January 2024 | 1,031
Carrying amount
At 31 December 2024 | 1,031
At 31 December 2023 | 1,031

Associates | £
Cost
At 1 January 2024 | 25
Carrying amount
At 31 December 2024 | 25
At 31 December 2023 | 25

7 | Debtors

| 2024 £ | 2023 £
Other debtors | 18,360 | 14,085
| 18,360 | 14,085

Dragon Shipping Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Trade creditors | 13,320 | 240
Amounts owed to group undertakings | 81,903 | 1,031
Taxation and social security | 4,084 | 23,402
Accruals and deferred income | 14,400 | 15,102
Other creditors | 23,634 | -
| 137,341 | 39,775

Creditors: amounts falling due after more than one year

| 2024 £ | 2023 £
Amounts owed to group undertakings | 216,504 | 167,945

9 | Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the period or amounts falling due between wholly owned undertakings.