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REGISTERED NUMBER: 06771417 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

ACB Shipping Limited

ACB Shipping Limited (Registered number: 06771417)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACB Shipping Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs EV Kolobova
Mr AS Drury





REGISTERED OFFICE: 12 Mason's Avenue
London
EC2V 5BT





REGISTERED NUMBER: 06771417 (England and Wales)





AUDITOR: Paul Hartley FCA
Statutory Auditor
PO Box 27075
London
N2 0FZ

ACB Shipping Limited (Registered number: 06771417)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,176 46,900
Investments 5 15,363 15,363
104,539 62,263

CURRENT ASSETS
Debtors 6 3,857,711 4,501,934
Cash at bank 298,204 329,055
4,155,915 4,830,989
CREDITORS
Amounts falling due within one year 7 3,774,164 4,417,869
NET CURRENT ASSETS 381,751 413,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,290

475,383

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 486,190 475,283
SHAREHOLDERS' FUNDS 486,290 475,383

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs EV Kolobova - Director


ACB Shipping Limited (Registered number: 06771417)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ACB Shipping Limited 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about ACB Shipping Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of consideration received or receivable for services rendered, net of value added tax, and is recognised when the following conditions are fulfilled:

- The amount received or receivable can be measured reliably;
- It is probable that the economic benefits associated with the transaction will flow to the company; - - The stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost

The Work of Art is not depreciated as the directors consider its residual value to be higher than the cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


ACB Shipping Limited (Registered number: 06771417)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ACB Shipping Limited (Registered number: 06771417)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 46,900 - 46,900
Additions - 59,699 59,699
At 31 December 2023 46,900 59,699 106,599
DEPRECIATION
Charge for year - 17,423 17,423
At 31 December 2023 - 17,423 17,423
NET BOOK VALUE
At 31 December 2023 46,900 42,276 89,176
At 31 December 2022 46,900 - 46,900

The fixed asset is a Work of Art which is not depreciated as the directors consider its residual value to be higher than the cost.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 15,363
NET BOOK VALUE
At 31 December 2023 15,363
At 31 December 2022 15,363

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 839,153 1,452,244
Amounts owed by group undertakings 492,767 18,158
VAT - 1,664
Prepayments and accrued income 2,525,791 3,029,868
3,857,711 4,501,934

ACB Shipping Limited (Registered number: 06771417)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in amounts owed from group undertakings are the following amounts:
Advance Shipping limited£64,900
ACB India£421,109
ACB Bulgaria £6,758

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 328,495 150,630
Amounts owed to group undertakings 1,485,139 3,934,494
Tax 12,379 43,266
Accruals and deferred income - 289,479
Accrued expenses 1,948,151 -
3,774,164 4,417,869

The amount due to group undertakings relates to ACB Singapore.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Paul Hartley FCA

10. ULTIMATE CONTROLLING PARTY

The controlling party is Advance Shipping Limited.

Throughout the year the company was under the control of Advance Shipping Holding Limited, a company in which EV Kolobova and AS Drury hold 100% of the issued share capital.