Company registration number 02983962 (England and Wales)
BELLE EPOQUE CHARTERS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BELLE EPOQUE CHARTERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BELLE EPOQUE CHARTERS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
16,797
Tangible assets
4
68,324
51,967
68,324
68,764
Current assets
Debtors
5
1,012,157
1,413,660
Cash at bank and in hand
40,912
14,575
1,053,069
1,428,235
Creditors: amounts falling due within one year
6
(766,017)
(664,854)
Net current assets
287,052
763,381
Total assets less current liabilities
355,376
832,145
Creditors: amounts falling due after more than one year
7
(109,745)
(164,822)
Provisions for liabilities
(6,892)
(566)
Net assets
238,739
666,757
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
237,739
665,757
Total equity
238,739
666,757
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 16 September 2024 and are signed on its behalf by:
T J S Wood-Dow
Director
Company registration number 02983962 (England and Wales)
BELLE EPOQUE CHARTERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Belle Epoque Charters Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 55 Station Road, Beaconsfield, Buckinghamshire, HP9 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable during the year, exclusive of Value Added Tax, in respect of charters. Revenue is recognised at the date of the charter.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 2 years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
BELLE EPOQUE CHARTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
9
10
BELLE EPOQUE CHARTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
33,594
Amortisation and impairment
At 1 January 2023
16,797
Amortisation charged for the year
16,797
At 31 December 2023
33,594
Carrying amount
At 31 December 2023
At 31 December 2022
16,797
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
211,429
Additions
34,782
At 31 December 2023
246,211
Depreciation and impairment
At 1 January 2023
159,462
Depreciation charged in the year
18,425
At 31 December 2023
177,887
Carrying amount
At 31 December 2023
68,324
At 31 December 2022
51,967
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
880,188
1,306,053
Other debtors
131,969
107,607
1,012,157
1,413,660
BELLE EPOQUE CHARTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
50,989
34,177
Amounts owed to group undertakings
589,515
547,789
Corporation tax
99,072
72,465
Other taxation and social security
5,405
1,986
Other creditors
21,036
8,437
766,017
664,854
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
109,745
164,822
The directors have granted a fixed and floating charge over the assets of the company in favour of a loan amounting to £160,734 (2022: £198,999).
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Fixed asset timing differences
6,892
-
2023
Movements in the year:
£
Liability at 1 January 2023
566
Charge to profit or loss
6,326
Liability at 31 December 2023
6,892
9
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.
BELLE EPOQUE CHARTERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
Carolyn Robson
Statutory Auditor:
Rouse Audit LLP
Date of audit report:
17 September 2024
10
Parent company
The company's immediate parent undertaking is European Waterways Limited, a company incorporated in England and Wales.
It's ultimate parent undertaking is European Waterways Group Limited, a company incorporated in England and Wales. The registered office of European Waterways Group Limited is 55 Station Road, Beaconsfield, Bucks, HP9 1QL.
BELLE EPOQUE CHARTERS LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023