REGISTERED NUMBER: |
Lexden Marine Ltd |
Financial Statements |
for the Year Ended 31st December 2023 |
REGISTERED NUMBER: |
Lexden Marine Ltd |
Financial Statements |
for the Year Ended 31st December 2023 |
Lexden Marine Ltd (Registered number: 08524710) |
Contents of the Financial Statements |
for the Year Ended 31st December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Lexden Marine Ltd |
Company Information |
for the Year Ended 31st December 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Accountants & Statutory Auditor |
4th Floor |
100 Fenchurch Street |
London |
EC3M 5JD |
Accountants: |
4th Floor |
100 Fenchurch Street |
London |
EC3M 5JD |
Lexden Marine Ltd (Registered number: 08524710) |
Statement of Financial Position |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
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 liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Other reserves |
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 |
Lexden Marine Ltd (Registered number: 08524710) |
Notes to the Financial Statements |
for the Year Ended 31st December 2023 |
1. | Statutory information |
Lexden Marine Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
At the balance sheet date, the company's current liabilities exceeded its current assets. This is due to a balance owed to a related party. Whilst this balance falls due within one year, the company has received assurance from the related party that it will not seek full repayment of the balance for a period of twelve months from the reporting date. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about Lexden Marine Ltd 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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable from chartering bulk carrier vessels, commissions on freight contracting and the management of Supramax vessels. Turnover is stated net of discounts and of Value Added Tax. |
The company recognises revenue when the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities. |
Tangible fixed assets |
Equipment | - |
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 statement of financial position date. |
Lexden Marine Ltd (Registered number: 08524710) |
Notes to the Financial Statements - continued |
for the Year Ended 31st 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 statement of financial position 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. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Auditors' remuneration |
2023 | 2022 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
7,000 |
7,000 |
5. | Tangible fixed assets |
Equipment |
£ |
Cost |
At 1st January 2023 |
Additions |
At 31st December 2023 |
Depreciation |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
Net book value |
At 31st December 2023 |
At 31st December 2022 |
Lexden Marine Ltd (Registered number: 08524710) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2023 |
6. | Fixed asset investments |
Interest |
in joint | Other |
venture | investments | Totals |
£ | £ | £ |
Cost |
At 1st January 2023 |
and 31st December 2023 | 7,452,714 |
Net book value |
At 31st December 2023 | 7,452,714 |
At 31st December 2022 | 7,452,714 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Other creditors |
10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |