REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
EUROPEAN CRUISE SERVICE UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
EUROPEAN CRUISE SERVICE UK LIMITED |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
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 |
EUROPEAN CRUISE SERVICE UK LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
31 High View Close |
Hamilton Office Park |
Leicester |
Leicestershire |
LE4 9LJ |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
European Cruise Service UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the entity and |
rounded to the nearest pound. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. |
Goodwill is being amortised evenly over its estimated useful life of 10 years. |
Tangible fixed assets |
Fixtures, fittings & equipment | - |
Software development | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The directors have considered the use of the going concern assumption and deemed the key factors to be the reopening of the cruise industry in the UK and the seasonality of the cruise industry in the UK. Cruising has been successfully re-established in the UK over the past year, a busy summer season of both domestic and international cruising is imminent, and a strong order book has been established. The directors acknowledge that continued financial support from the parent company will be necessary over the next year. The directors consider the going concern assumption to be appropriate for the foreseeable future. The directors acknowledge that, with potential for rapid change in the business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption, albeit not quantifiable at this time. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
Impairments | (70,000 | ) |
At 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Impairments | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings | Software |
& equipment | development | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include |
the following: |
European Cruise Service Logistics Limited |
Registered office: 31 High View Close, Hamilton, Leicester, England, LE4 9LJ |
Nature of business: Other passenger land transport |
% |
Class of shares: holding |
Ordinary 100.00 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Deferred tax asset |
Prepayments and accrued income |
EUROPEAN CRUISE SERVICE UK LIMITED (REGISTERED NUMBER: 05835647) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 115,613 | 6,281 |
Other creditors |
Accruals and deferred income |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent is European Cruise Services AS, incorporated in Norway. |
The ultimate parent is Travel Invest AS, incorporated in Norway. |