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Registered number: 14554441









EUROMAR SHIPPING LTD







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
EUROMAR SHIPPING LTD
 
 
COMPANY INFORMATION


Director
Alice Gran (appointed 22 December 2022)




Registered number
14554441



Registered office
1 Charter House Mews

London

England

EC1M 6BB





 
EUROMAR SHIPPING LTD
 

CONTENTS



Page
Director's Report
1
Profit and Loss Account
2
Balance Sheet
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 8


 
EUROMAR SHIPPING LTD
 
 
 
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023

The director presents her report and the financial statements for the period ended 31 December 2023.

Director's responsibilities statement

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable her to ensure that the financial statements comply with the Companies Act 2006She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activities of the company in the year under review is that of cargo and ship brokerage services.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

This report was approved by the board on 10 September 2024 and signed on its behalf.
 





Alice Gran
Director

Page 1

 
EUROMAR SHIPPING LTD
 
 
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2023

22 December 2022 to 31 December 2023
Note
£

Turnover
  
2,911,184

Staff costs
  
(7,865)

Other charges
  
(2,572,833)

Profit
  
330,486

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 
EUROMAR SHIPPING LTD
REGISTERED NUMBER: 14554441

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Current assets
  

Debtors: amounts falling due within one year
 3 
1,305,828

Cash at bank and in hand
 4 
2,910

  
1,308,738

Creditors: amounts falling due within one year
 5 
(978,152)

Net current assets
  
 
 
330,586

Total assets less current liabilities
  
330,586

  

Net assets
  
330,586


Capital and reserves
  

Called up share capital 
 6 
100

Profit and loss account
  
330,486

  
330,586


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 September 2024.




................................................
Alice Gran
Director

The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
EUROMAR SHIPPING LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
330,486
330,486


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
330,486
330,486


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 31 December 2023
100
330,486
330,586

The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
EUROMAR SHIPPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Euromar Shipping Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
EUROMAR SHIPPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 6

 
EUROMAR SHIPPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Trade and other creditors

Trade creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Debtors

2023
£


Trade debtors
1,305,828

1,305,828



4.


Cash and cash equivalents

2023
£

Cash at bank and in hand
2,910

2,910


Page 7

 
EUROMAR SHIPPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
958,716

Amounts owed to group undertakings
19,436

978,152



6.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100




 
Page 8