2023-07-012024-06-302024-06-30falseSC452468POSEIDON MARITIME 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POSEIDON MARITIME LIMITED

Registered Number
SC452468
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2024

POSEIDON MARITIME LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

RENNIE, Alan Stuart
RENNIE, Emma Louise

Registered Address

Afm House
6 Crofthead Road
Prestwick
KA9 1HW

Registered Number

SC452468 (Scotland)
POSEIDON MARITIME LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets31,2561,675
1,2561,675
Current assets
Cash at bank and in hand4,8062,088
4,8062,088
4,8062,088
6,0623,763
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital200200
Profit and loss account(3,733)(5,344)
(3,533)(5,144)
Liabilities
Creditors amounts falling due within one year49,4748,607
Accruals and deferred income121300
6,0623,763
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
RENNIE, Alan Stuart
Director
Registered Company No. SC452468
POSEIDON MARITIME LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 235,236
At 30 June 245,236
Depreciation and impairment
At 01 July 233,561
Charge for year419
At 30 June 243,980
Net book value
At 30 June 241,256
At 30 June 231,675
4.Creditors: amounts due within one year

2024

2023

££
Other creditors9,4748,607
Total9,4748,607
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.