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Registered number: 07726729

Maritime Adjusting Services Limited

UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023

Prepared By:
Lever Bros & Co
Chartered Accountants
First Floor, 690 Great West Road
Osterley Village
Isleworth
TW7 4PU

Maritime Adjusting Services Limited

ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
DIRECTORS
C C Dorling
REGISTERED OFFICE
First Floor 690 Great West Road
Osterley Village
Isleworth
TW7 4PU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07726729
ACCOUNTANTS
Lever Bros & Co
Chartered Accountants
First Floor, 690 Great West Road
Osterley Village
Isleworth
TW7 4PU

Maritime Adjusting Services Limited

ACCOUNTS
FOR THEYEARENDED31 AUGUST 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Maritime Adjusting Services Limited

BALANCE SHEET AT 31 August 2023
20232022
Notes££
FIXED ASSETS3,4--
CURRENT ASSETS
Debtors5256,603221,195
Cash at bank and in hand36,65663,485
293,259284,680
CREDITORS: Amounts falling due within one year634,31054,777
NET CURRENT ASSETS258,949229,903
TOTAL ASSETS LESS CURRENT LIABILITIES258,949229,903
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account258,849229,803
SHAREHOLDERS' FUNDS258,949229,903
For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 9 April 2024 and signed on their behalf by
.............................
C C Dorling
Director

Maritime Adjusting Services Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The financial statements have been prepared under historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 1m).
The following principal accounting policies have been applied:
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. - reducing balance 15%
1c. Taxation
Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of the income and expenses recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity, respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
1d. Pension Costs
The Company makes contributions to its employees own defined contribution pension schemes. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position.

Maritime Adjusting Services Limited

1e. Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
1f. Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortization and accumulated impairment losses. Goodwill is amortised on a straight-line bases to the Statement Comprehensive Income over its useful economic life.
1g. Statutory Information
Maritime Adjusting Services Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The company's registered number is 07726729 and registered office address is First Floor 690 Great West Road, Osterley Village, Isleworth, TW7 4PU.
These financial statements are presented in Pounds Sterling (GBP) as that is the currency in which the majority of the Company transactions are denominated. They comprise the financial statements of the Company for the year ended 31 August 2023 and are presented to the nearest pound.
The Company has determined that the (GBP) is its functional currency as this is the currency of the economic environment in which the Company predominantly operates. The principal activity of the Company during the year continued to be the provision of insurance adjusting services.
1h. Foreign Currency Translation Functional And Presentation Currency
The Company's functional and presentation currency is GBP.
1i. Transactions And Balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
1j. Operating Leases The Company As Lessee
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on the straight-line basis over the lease term.

Maritime Adjusting Services Limited

1k. Finance Costs
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
1l. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.
1m. Judgements In Applying Accounting Policies And Key Sources Of Estimation Uncertainty
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expanses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.
Due to the simplicity of the Company's transaction streams and year-end financial position, the Director considers there to be no critical judgements, estimates or assumptions in the preparation of these financial statements.

Maritime Adjusting Services Limited

2. EMPLOYEES
20232022
No.No.
Average number of employees-1
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 September 2022400,000400,000
At 31 August 2023400,000400,000
Depreciation
At 1 September 2022400,000400,000
At 31 August 2023400,000400,000
Net Book Amounts
At 31 August 2023--
4. TANGIBLE FIXED ASSETS
Fixtures
and FittingsTotal
££
Cost
At 1 September 20222,2292,229
At 31 August 20232,2292,229
Depreciation
At 1 September 20222,2292,229
At 31 August 20232,2292,229
Net Book Amounts
At 31 August 2023--
5. DEBTORS 20232022
££
Amounts falling due within one year
Amounts due from group companies256,603221,195
256,603221,195

Maritime Adjusting Services Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Taxation and social security6,6215,209
Directors current account3,603570
Other creditors14,38629,786
Accruals9,70019,212
34,31054,777
7. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1.00 each100100
100100
8. CONTROLLING PARTY
The ultimate parent company is considered to be Dorling Holdings Limited, a company registered in England and Wales. C C Dorling is the sole shareholder of the ultimate parent company and is deemed to be the ultimate controlling party.
9. RELATED PARTY TRANSACTIONS
At 31 August 2023, the total amount owed by the company C C Dorling was £3,603 (2022: £570). No interest is charged on the outstanding balance.
The Company has taken advantage of the exemptions under the paragraphs 1AC.35 of the Financial Reporting Standard 102 - section 1A whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertakings of the group.