Silverfin false 30/04/2023 01/05/2022 30/04/2023 Colin Gay 17/02/2021 Kathy Gay 13/04/2015 06 November 2023 The principal activity of the Company is that of a broker between charter ships and oil companies. SC503117 2023-04-30 SC503117 bus:Director1 2023-04-30 SC503117 bus:Director2 2023-04-30 SC503117 core:CurrentFinancialInstruments 2023-04-30 SC503117 core:CurrentFinancialInstruments 2022-04-30 SC503117 2022-04-30 SC503117 core:ShareCapital 2023-04-30 SC503117 core:ShareCapital 2022-04-30 SC503117 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC503117 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC503117 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 SC503117 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 SC503117 bus:OrdinaryShareClass1 2023-04-30 SC503117 2022-05-01 2023-04-30 SC503117 bus:FullAccounts 2022-05-01 2023-04-30 SC503117 bus:SmallEntities 2022-05-01 2023-04-30 SC503117 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC503117 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC503117 bus:Director1 2022-05-01 2023-04-30 SC503117 bus:Director2 2022-05-01 2023-04-30 SC503117 2021-05-01 2022-04-30 SC503117 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC503117 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC503117 (Scotland)

KONSULT MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

KONSULT MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

KONSULT MARINE LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
KONSULT MARINE LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
2023 2022
£ £
Current assets
Debtors 3 281 452
Cash at bank and in hand 6,623 12,608
6,904 13,060
Creditors: amounts falling due within one year 4 ( 39,914) ( 39,545)
Net current liabilities (33,010) (26,485)
Total assets less current liabilities (33,010) (26,485)
Net liabilities ( 33,010) ( 26,485)
Capital and reserves
Called-up share capital 5 30 30
Profit and loss account ( 33,040 ) ( 26,515 )
Total shareholder's deficit ( 33,010) ( 26,485)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Konsult Marine Limited (registered number: SC503117) were approved and authorised for issue by the Director on 06 November 2023. They were signed on its behalf by:

Kathy Gay
Director
KONSULT MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
KONSULT MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

Konsult Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 11 Mill Lade Wynd, Bridge Of Don, Aberdeen, AB22 8QN, Scotland, United Kingdom.

General information and basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £33,010. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business. Turnover is recognised when services are delivered.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Debtors

2023 2022
£ £
Other debtors 281 452

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 443 278
Amounts owed to related parties 36,424 36,424
Other creditors 3,047 2,843
39,914 39,545

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30 Ordinary shares of £ 1.00 each 30 30

6. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due to directors 36,424 36,424

The above loan is interest free and has no fixed terms of repayment in place.