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COMPANY REGISTRATION NUMBER: 12320617
PRIMASEA MARITIME LIMITED
Unaudited Financial Statements
30 November 2023
PRIMASEA MARITIME LIMITED
Financial Statements
Year ended 30 November 2023
Contents
Page
Directors' report
1
Income statement
2
Statement of financial position
3
Notes to the financial statements
4
PRIMASEA MARITIME LIMITED
Directors' Report
Year ended 30 November 2023
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2023 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Principal activities
The Company was non trading during the year.
Directors
The directors who served the company during the year were as follows:
Mr. Georgios Pachatouridis
Mrs. Ioulia Kotsoni
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 March 2024 and signed on behalf of the board by:
Mr. Georgios Pachatouridis
Mrs. Ioulia Kotsoni
Director
Director
PRIMASEA MARITIME LIMITED
Income Statement
Year ended 30 November 2023
2023
2022
Note
£
£
Administrative expenses
( 1,392)
( 1,637)
-------
-------
Operating loss
( 1,392)
( 1,637)
-------
-------
Loss before taxation
( 1,392)
( 1,637)
Tax on loss
-------
-------
Loss for the financial year
( 1,392)
( 1,637)
-------
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year or prior year.
PRIMASEA MARITIME LIMITED
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Current assets
Debtors
4
1,520
3,500
Creditors: amounts falling due within one year
5
17,489
18,077
--------
--------
Net current liabilities
15,969
14,577
--------
--------
Total assets less current liabilities
( 15,969)
( 14,577)
--------
--------
Net liabilities
( 15,969)
( 14,577)
--------
--------
Capital and reserves
Called up share capital
4
4
Profit and loss account
( 15,973)
( 14,581)
--------
--------
Shareholders deficit
( 15,969)
( 14,577)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
Mr. Georgios Pachatouridis
Mrs. Ioulia Kotsoni
Director
Director
Company registration number: 12320617
PRIMASEA MARITIME LIMITED
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Old Bailey, London, EC4M 7AU, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year or prior year.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023
2022
£
£
Trade debtors
1,980
Other debtors
1,520
1,520
-------
-------
1,520
3,500
-------
-------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
19
19
Trade creditors
2,953
3,628
Accruals and deferred income
1,200
1,200
Shareholders account - credit balance
13,317
13,230
--------
--------
17,489
18,077
--------
--------