IRIS Accounts Production v24.2.0.383 05835647 Board of Directors 1.1.23 31.12.23 31.12.23 20.9.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058356472022-12-31058356472023-12-31058356472023-01-012023-12-31058356472021-12-31058356472022-01-012022-12-31058356472022-12-3105835647ns15:EnglandWales2023-01-012023-12-3105835647ns14:PoundSterling2023-01-012023-12-3105835647ns10:Director12023-01-012023-12-3105835647ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105835647ns10:SmallEntities2023-01-012023-12-3105835647ns10:Audited2023-01-012023-12-3105835647ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105835647ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105835647ns10:FullAccounts2023-01-012023-12-310583564712023-01-012023-12-3105835647ns10:Director22023-01-012023-12-3105835647ns10:RegisteredOffice2023-01-012023-12-3105835647ns5:CurrentFinancialInstruments2023-12-3105835647ns5:CurrentFinancialInstruments2022-12-3105835647ns5:ShareCapital2023-12-3105835647ns5:ShareCapital2022-12-3105835647ns5:RetainedEarningsAccumulatedLosses2023-12-3105835647ns5:RetainedEarningsAccumulatedLosses2022-12-3105835647ns5:NetGoodwill2023-01-012023-12-3105835647ns5:FurnitureFittings2023-01-012023-12-3105835647ns5:ComputerEquipment2023-01-012023-12-3105835647ns5:NetGoodwill2022-12-3105835647ns5:NetGoodwill2023-12-3105835647ns5:NetGoodwill2022-12-3105835647ns5:FurnitureFittings2022-12-3105835647ns5:ComputerEquipment2022-12-3105835647ns5:FurnitureFittings2023-12-3105835647ns5:ComputerEquipment2023-12-3105835647ns5:FurnitureFittings2022-12-3105835647ns5:ComputerEquipment2022-12-3105835647ns5:CostValuation2022-12-3105835647ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105835647ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105835647ns5:WithinOneYear2023-12-3105835647ns5:WithinOneYear2022-12-3105835647ns5:BetweenOneFiveYears2023-12-3105835647ns5:BetweenOneFiveYears2022-12-3105835647ns5:AllPeriods2023-12-3105835647ns5:AllPeriods2022-12-31
REGISTERED NUMBER: 05835647 (England and Wales)
























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: A Kordt
R Monsen





REGISTERED OFFICE: 31 High View Close
Hamilton
Leicester
Leicestershire
LE4 9LJ





REGISTERED NUMBER: 05835647 (England and Wales)





AUDITORS: TC Group
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 - 105
Investments 6 100 100
100 205

CURRENT ASSETS
Debtors 7 943,065 439,702
Cash at bank and in hand 355,503 125,192
1,298,568 564,894
CREDITORS
Amounts falling due within one year 8 612,035 208,314
NET CURRENT ASSETS 686,533 356,580
TOTAL ASSETS LESS CURRENT LIABILITIES 686,633 356,785

PROVISIONS FOR LIABILITIES - 26
NET ASSETS 686,633 356,759

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 636,633 306,759
686,633 356,759

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 17 September 2024 and were signed on its behalf by:





A Kordt - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on cost
Software development - 20% on cost

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 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 70,000
Impairments (70,000 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 70,000
Impairments (70,000 )
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 14,758 24,750 39,508
DEPRECIATION
At 1 January 2023 14,653 24,750 39,403
Charge for year 105 - 105
At 31 December 2023 14,758 24,750 39,508
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 105 - 105

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

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 669,978 207,438
Amounts owed by group undertakings 243,488 201,687
Other debtors 3,056 3,319
Deferred tax asset 719 -
Prepayments and accrued income 25,824 27,258
943,065 439,702

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 42,982 22,462
Corporation tax 102,169 40,939
Social security and other taxes 26,632 17,387
VAT 115,613 6,281
Other creditors 27,371 100
Accruals and deferred income 297,268 121,145
612,035 208,314

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 25,560 25,560
Between one and five years 4,260 29,820
29,820 55,380

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

The Report of the Auditors was unqualified.

Dilun Mistry FCA (Senior Statutory Auditor)
for and on behalf of TC Group

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.