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REGISTERED NUMBER: 05658207 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Kernow Maritime Services Limited

Kernow Maritime Services Limited (Registered number: 05658207)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kernow Maritime Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C S Campbell
Mrs R Campbell





SECRETARY: Mrs R Campbell





REGISTERED OFFICE: Drym Mill
Drym, Praze
Camborne
Cornwall
TR14 0NU





REGISTERED NUMBER: 05658207 (England and Wales)





ACCOUNTANTS: Briants Chartered Accountants
Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA

Kernow Maritime Services Limited (Registered number: 05658207)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,239 3,194

CURRENT ASSETS
Debtors 5 3,756 21,424
Cash at bank 30,570 55,783
34,326 77,207
CREDITORS
Amounts falling due within one year 6 350 12,955
NET CURRENT ASSETS 33,976 64,252
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,215

67,446

PROVISIONS FOR LIABILITIES 425 604
NET ASSETS 35,790 66,842

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 35,788 66,840
SHAREHOLDERS' FUNDS 35,790 66,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Kernow Maritime Services Limited (Registered number: 05658207)

Balance Sheet - continued
31 December 2023


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 1 March 2024 and were signed on its behalf by:





C S Campbell - Director


Kernow Maritime Services Limited (Registered number: 05658207)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kernow Maritime Services 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 each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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 2 (2022 - 2 ) .

Kernow Maritime Services Limited (Registered number: 05658207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 5,291 1,589 6,880
DEPRECIATION
At 1 January 2023 2,315 1,371 3,686
Charge for year 744 211 955
At 31 December 2023 3,059 1,582 4,641
NET BOOK VALUE
At 31 December 2023 2,232 7 2,239
At 31 December 2022 2,976 218 3,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,463 21,424
Other debtors 2,293 -
3,756 21,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax - 7,165
VAT 20 4,847
Other creditors - 142
Directors' current accounts 9 133
Accruals and deferred income 321 668
350 12,955

7. ULTIMATE CONTROLLING PARTY

The company is controlled by the Directors.