Arrow Maritime Line Limited
Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 01853913 (England and Wales)
Arrow Maritime Line Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Arrow Maritime Line Limited
Balance Sheet
As at 31 December 2023
31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
126,274
125,890
Cash at bank and in hand
67,551
65,363
193,825
191,253
Creditors: amounts falling due within one year
4
(6,659)
(5,654)
Net current assets
187,166
185,599
Capital and reserves
Called up share capital
3,500
3,500
Capital redemption reserve
1,500
1,500
Profit and loss reserves
182,166
180,599
Total equity
187,166
185,599

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 March 2024 and are signed on its behalf by:
F Wenzel
Director
Company Registration No. 01853913
Arrow Maritime Line Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Arrow Maritime Line Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hartrodt House, Green Man Lane, Hatton Cross, Middlesex, TW14 0PZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The company made a profit for the year of £1,567 and had net assets of £187,166 at the balance sheet date. The directors expect the performance to continue to be positive despite the underlying economic uncertainty. As a result, and assisted by the strong balance sheet and cash position of the company, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and specifically for at least twelve months from the date of approval of the financial statements.

1.3
Turnover

Turnover consists of net charges for shipping and forwarding net of value added tax.

1.4
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Arrow Maritime Line Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees

There were no persons employed by the company during the current or previous year.

3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
125,940
125,584
Other debtors
300
306
Prepayments and accrued income
34
-
0
126,274
125,890
Arrow Maritime Line Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,974
14
Corporation tax
481
1,905
Accruals and deferred income
4,204
3,735
6,659
5,654
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jonathan Seymour
Statutory Auditor:
Moore Kingston Smith LLP
6
Parent company

The immediate and ultimate controlling parent undertaking and the smallest and largest group to consolidate these financial statements is a. hartrodt (GmbH & Co) KG a company incorporated in Germany. Copies of a. hartrodt (GmbH & Co) KG's consolidated financial statements are publicly available can be obtained from their registered office Högerdamm 35, 20097 Hamburg, Germany.

 

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