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Company No: 04969696 (England and Wales)

MARITIME HOUSE MANAGEMENT CO LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

MARITIME HOUSE MANAGEMENT CO LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

MARITIME HOUSE MANAGEMENT CO LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
MARITIME HOUSE MANAGEMENT CO LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
2023 2022
£ £
Current assets
Debtors 3 84,018 68,036
Cash at bank and in hand 45,977 29,610
129,995 97,646
Creditors: amounts falling due within one year 4 ( 129,995) ( 97,646)
Net current assets 0 0
Total assets less current liabilities 0 0
Net assets 0 0
Capital and reserves
Called-up share capital 0 0
Total shareholders' funds 0 0

For the financial year ending 30 June 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 Maritime House Management Co Ltd (registered number: 04969696) were approved and authorised for issue by the Director on 13 March 2024. They were signed on its behalf by:

Andrew Browne
Director
MARITIME HOUSE MANAGEMENT CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
MARITIME HOUSE MANAGEMENT CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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.

General information and basis of accounting

Maritime House Management Co Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Trade debtors 18,897 20,514
Prepayments and accrued income 6,961 26,511
VAT recoverable 29 943
Other debtors 58,131 20,068
84,018 68,036

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,217 16,136
Accruals and deferred income 57,789 2,380
Payments received on account 21,225 29,366
Other creditors 49,764 49,764
129,995 97,646

5. Company Status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.