REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
CARIBBEAN LINE UK LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
CARIBBEAN LINE UK LTD |
CARIBBEAN LINE UK LTD (REGISTERED NUMBER: 12527708) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
CARIBBEAN LINE UK LTD |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
CARIBBEAN LINE UK LTD (REGISTERED NUMBER: 12527708) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CARIBBEAN LINE UK LTD (REGISTERED NUMBER: 12527708) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Caribbean Line UK Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The accounts have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows, in their assessment of the company's ability to prepare accounts as a going concern. Having taken all relevant factors into account, the directors are of the opinion that the company has sufficient resources to continue trading for a minimum of the next 12 months from the date of signing these accounts. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating sales and purchases accruals. A full line by line review of sales and purchases immediately before and after the year end is carried out to ensure that income and related costs are recorded in the correct period. Whilst every attempt is made to ensure that the accruals are as accurate as possible, there remains a risk that the provisions do not match the final invoices. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
Trade and other debtors and creditors, including accruals, accrued income and amounts owed to/from group entities, with no stated interest rate and receivable or payable within one year, are classified as basic financial instruments and recorded at transaction price. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
CARIBBEAN LINE UK LTD (REGISTERED NUMBER: 12527708) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
3. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | Employees and directors |
The average number of employees during the year was |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
CARIBBEAN LINE UK LTD (REGISTERED NUMBER: 12527708) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Ultimate controlling party |
The ultimate parent and controlling party is CEM, a company incorporated in France. CEM is the parent of the largest and smallest group into which the results of Caribbean Line UK Limited are consolidated. Copies of the parent company's financial statements are available from its registered office at Cellule No.10 Bâtiment Industriel Parc d'Activités du Robert, 97231 Le Robert, France. |