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Columbia Cruise Services UK Limited

Annual Report and Financial Statements
Year Ended 31 December 2023

Registration number: 02101385

 

Columbia Cruise Services UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Columbia Cruise Services UK Limited

Balance Sheet

31 December 2023

Note

31 December
2023
£

31 December
2022
£

Fixed assets

 

Tangible assets

4

252

54

Current assets

 

Debtors

5

28,761

25,898

Cash at bank and in hand

 

46,527

40,620

 

75,288

66,518

Creditors: Amounts falling due within one year

6

(115,593)

(25,074)

Net current (liabilities)/assets

 

(40,305)

41,444

Net (liabilities)/assets

 

(40,053)

41,498

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(40,055)

41,496

Shareholders' (deficit)/funds

 

(40,053)

41,498

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
P Wells
Director

 

Columbia Cruise Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Cedar Office Park
Cobham Road
Wimborne
Dorset
BH21 7SB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, rounded to the nearest whole pound.

Going concern

The directors have considered the income streams and have reviewed the level of core overheads of the business, to determine if there is sufficient working capital to meet these requirements. The main source of income and working capital is from the parent company.

The parent company has confirmed its intention to make sufficient funds available to allow the company to continue to meet its liabilities as they fall due for a period of not less than one year from the date of approval of these financial statements. Having reviewed the level of profitability and cash generation within the group, the directors are satisfied that it is reasonable to estimate that the parent company will continue to be able to make sufficient funding available to meet these requirements and, accordingly, the directors continue to adopt the going concern basis of presentation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Columbia Cruise Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2023

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% reducing balance basis

Computer equipment

30% straight line basis

Office equipment

25% straight line basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Columbia Cruise Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 4).

4

Tangible assets

Computer and Office Equipment
£

Furniture and Fittings
 £

Total
£

Cost or valuation

At 1 January 2023

30,836

11,312

42,148

Additions

282

-

282

At 31 December 2023

31,118

11,312

42,430

Depreciation

At 1 January 2023

30,836

11,258

42,094

Charge for the year

71

13

84

At 31 December 2023

30,907

11,271

42,178

Carrying amount

At 31 December 2023

211

41

252

At 31 December 2022

-

54

54

 

Columbia Cruise Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2023

5

Debtors

31 December
2023
£

31 December
2022
£

Trade debtors

4,214

-

Prepayments

8,716

5,911

Other debtors

15,831

19,987

28,761

25,898

6

Creditors

Creditors: amounts falling due within one year

31 December
2023
£

31 December
2022
£

Due within one year

Trade creditors

12,078

-

Taxation and social security

35,356

18,441

Accruals and deferred income

3,999

4,000

Other creditors

64,160

2,633

115,593

25,074

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £40,377 (2022 - £31,365). This relates to annual commitments under non-cancellable operating leases.

8

Related party transactions

Summary of transactions with parent

Turnover consists of £522,909 (2022 - £347,857) invoiced to the parent company. At year end a balance of £57,096 (2022 - debtor of £7,883) was due to the parent company.
 

9

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Daniel Tout FCA, who signed for and on behalf of PKF Francis Clark on 30 January 2025.

 

Columbia Cruise Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2023

10

Parent and ultimate parent undertaking

The company's immediate parent is Columbia Cruise Services GMBH & Co KG, incorporated in Germany.

 The ultimate parent is Columbia Shipmanagement Limited, incorporated in Cypus.
 

No individual has ultimate control.