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Company No: SC503117 (Scotland)

KONSULT MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

KONSULT MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

KONSULT MARINE LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
KONSULT MARINE LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Current assets
Debtors 3 169 281
Cash at bank and in hand 931 6,623
1,100 6,904
Creditors: amounts falling due within one year 4 ( 40,663) ( 39,914)
Net current liabilities (39,563) (33,010)
Total assets less current liabilities (39,563) (33,010)
Net liabilities ( 39,563) ( 33,010)
Capital and reserves
Called-up share capital 5 30 30
Profit and loss account ( 39,593 ) ( 33,040 )
Total shareholder's deficit ( 39,563) ( 33,010)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Konsult Marine Limited (registered number: SC503117) were approved and authorised for issue by the Board of Directors on 14 January 2025. They were signed on its behalf by:

Kathy Gay
Director
KONSULT MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
KONSULT MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

Konsult Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 11 Mill Lade Wynd, Bridge Of Don, Aberdeen, AB22 8QN, Scotland, United Kingdom.

General information and basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £39,563. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business. Turnover is recognised when services are delivered.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Debtors

2024 2023
£ £
Other debtors 169 281

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 539 443
Amounts owed to related parties 36,424 36,424
Other creditors 3,700 3,047
40,663 39,914

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
30 Ordinary shares of £ 1.00 each 30 30

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to directors 36,424 36,424

The above loan is interest free and has no fixed terms of repayment in place.