REGISTERED NUMBER: |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
21 NOVEMBER 2023 TO 30 JUNE 2024 |
REGISTERED NUMBER: |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
21 NOVEMBER 2023 TO 30 JUNE 2024 |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED (REGISTERED NUMBER: 15298549) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 21 NOVEMBER 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 4 |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 21 NOVEMBER 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Oxley House |
Lincoln Way |
Louth |
Lincolnshire |
LN11 0LS |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED (REGISTERED NUMBER: 15298549) |
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED (REGISTERED NUMBER: 15298549) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 21 NOVEMBER 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Offshore Training Centre (Grimsby) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The company has chosen to adopt the FRS102 1A in respect of financial instruments. |
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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 period 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. |
OFFSHORE TRAINING CENTRE (GRIMSBY) |
LIMITED (REGISTERED NUMBER: 15298549) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 21 NOVEMBER 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
Despite negative shareholder funds the parent company (Grimsby Fish Dock Enterprises Ltd) considers the going concern basis to be appropriate since they will not demand full repayment of the current account balance until the company is in a position to repay the balance without affecting its ability to trade. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
7. | RESERVES |
Retained |
earnings |
£ |
Deficit for the period | ( |
) |
At 30 June 2024 | ( |
) |
8. | RELATED PARTY DISCLOSURES |
There are transactions with the parent company, all of which have been conducted on commercial terms. The transactions are with Grimsby Fish Dock Enterprises Limited, which the subsidiary is wholly owned by . |
All transactions between Offshore Training Centre (Grimsby) Limited and its parent company are conducted at arms length and are negotiated on mutually acceptable commercial terms. As per FRS 102 requirements for small companies, these transactions do not have to be disclosed in terms of monetary value. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Grimsby Fish Dock Enterprises Limited. |
Grimsby Fish Dock Enterprises Limited owns 100% of the issued share capital of the company. |