Registered number
10484451
Fulmar Shipping Limited
Filleted Accounts
30 November 2023
Fulmar Shipping Limited
Registered number: 10484451
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,437 255
Current assets
Debtors 4 160,839 59,768
Cash at bank and in hand 967,276 746,374
1,128,115 806,142
Creditors: amounts falling due within one year 5 (289,821) (102,060)
Net current assets 838,294 704,082
Net assets 840,731 704,337
Capital and reserves
Called up share capital 90 120
Capital redemption reserve 30 -
Profit and loss account 840,611 704,217
Shareholders' funds 840,731 704,337
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Iain R Macleod
Director
Approved by the board on 21 February 2024
Fulmar Shipping Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 510
Additions 4,874
At 30 November 2023 5,384
Depreciation
At 1 December 2022 255
Charge for the year 2,692
At 30 November 2023 2,947
Net book value
At 30 November 2023 2,437
At 30 November 2022 255
4 Debtors 2023 2022
£ £
Trade debtors 154,855 51,550
Other debtors 5,984 8,218
160,839 59,768
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 237,945 54,787
Other creditors 51,876 47,273
289,821 102,060
6 Other information
Fulmar Shipping Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 4.05, One Crown Square
Church Street East
Woking
Surrey
GU21 6HR
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