BrightAccountsProduction v1.0.0 v1.0.0 2023-03-30 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the operation of marine vessels. 28 March 2025 0 NI695888 2024-03-31 NI695888 2023-03-29 NI695888 2023-03-30 2024-03-31 NI695888 uk-bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-31 NI695888 uk-curr:PoundSterling 2023-03-30 2024-03-31 NI695888 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-31 NI695888 uk-bus:FullAccounts 2023-03-30 2024-03-31 NI695888 uk-bus:Director1 2023-03-30 2024-03-31 NI695888 uk-bus:Director2 2023-03-30 2024-03-31 NI695888 uk-bus:RegisteredOffice 2023-03-30 2024-03-31 NI695888 uk-bus:Agent1 2023-03-30 2024-03-31 NI695888 uk-core:ShareCapital 2024-03-31 NI695888 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI695888 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI695888 uk-bus:FRS102 2023-03-30 2024-03-31 NI695888 uk-core:ShipsBoats 2023-03-30 2024-03-31 NI695888 uk-core:CurrentFinancialInstruments 2024-03-31 NI695888 uk-core:WithinOneYear 2024-03-31 NI695888 uk-core:WithinOneYear 2024-03-31 NI695888 uk-core:AfterOneYear 2024-03-31 NI695888 uk-core:BetweenOneTwoYears 2024-03-31 NI695888 uk-core:BetweenTwoFiveYears 2024-03-31 NI695888 uk-core:MoreThanFiveYears 2024-03-31 NI695888 uk-core:EmployeeBenefits 2023-03-29 NI695888 uk-core:EmployeeBenefits 2023-03-30 2024-03-31 NI695888 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 NI695888 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-03-31 NI695888 uk-core:OtherDeferredTax 2024-03-31 NI695888 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-03-31 NI695888 uk-core:EmployeeBenefits 2024-03-31 NI695888 2023-03-30 2024-03-31 NI695888 uk-bus:AuditExempt-NoAccountantsReport 2023-03-30 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
Company Registration Number: NI695888
 
 
CH Offshore Ltd
 
Unaudited Financial Statements
 
for the financial period from 30 March 2023 (date of incorporation) to 31 March 2024
CH Offshore Ltd
Directors and Other Information

 
Directors Ailbhe Cosbey (Appointed 30 March 2023)
William Hill (Appointed 30 June 2023)
 
 
Company Registration Number NI695888
 
 
Registered Office and Business Address 12 Cromac Place C/O HCA Chartered Accountants
Belfast
BT7 2JB
United Kingdom
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place,
The Gasworks,
Belfast
BT7 2JB
 
 
Bankers AIB (NI)
  42-44 Hill Street
  Newry
  Co. Down
  BT34 1AU



CH Offshore Ltd
Company Registration Number: NI695888
Balance Sheet
as at 31 March 2024

Mar 24
Notes £
 
Fixed Assets
Tangible assets 7 173,340
─────────
 
Current Assets
Debtors 8 2,872
Creditors: amounts falling due within one year 9 (150,729)
─────────
Net Current Liabilities (147,857)
─────────
Total Assets less Current Liabilities 25,483
 
Creditors:
amounts falling due after more than one year 10 (92,012)
 
Provisions for liabilities 11 16,658
─────────
Net Liabilities (49,871)
═════════
 
Capital and Reserves
Called up share capital 101
Retained earnings (49,972)
─────────
Equity attributable to owners of the company (49,871)
═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
       
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
       
For the financial period from 30 March 2023 (date of incorporation) to 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
       
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
       
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
       
Approved by the Board and authorised for issue on 28 March 2025 and signed on its behalf by
       
       
________________________________      
Ailbhe Cosbey      
Director      
       



CH Offshore Ltd
Notes to the Financial Statements
for the financial period from 30 March 2023 (date of incorporation) to 31 March 2024

   
1. General Information
 
CH Offshore Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI695888. The registered office of the company is 12 Cromac Place C/O HCA Chartered Accountants, Belfast, BT7 2JB, United Kingdom which is also the principal place of business of the company. The principal activity of the company is the operation of marine vessels. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Maritime vessels - 10% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 12 month 2 days period from 30 March 2023 (date of incorporation) to 31 March 2024.
   
4. Going concern
 
In common with many early stage companies, the company made a loss in its first, pre-trading period. The company commenced commercial operations after the reporting date. The Directors have considered the period of 12 months from the date of approval of the financial statements and are content that the application of the going concern basis is appropriate.
   
5. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
6. Employees
 
The average monthly number of employees, including directors, during the financial period was 2.
       
7. Tangible assets
  Maritime Total
  vessels  
     
  £ £
Cost
At 30 March 2023 - -
Additions 173,340 173,340
  ───────── ─────────
At 31 March 2024 173,340 173,340
  ───────── ─────────
Depreciation
At 30 March 2023 - -
  ───────── ─────────
At 31 March 2024 - -
  ───────── ─────────
Net book value
At 31 March 2024 173,340 173,340
  ═════════ ═════════
 
No depreciation was charged in the period, as the company's fixed assets were not brough into commercial use until after the reporting date.
     
8. Debtors Mar 24
  £
 
Amounts owed by connected parties (Note 13) 1,498
Taxation 1,274
Called up share capital not paid 100
  ─────────
  2,872
  ═════════
     
9. Creditors Mar 24
Amounts falling due within one year £
 
Bank overdrafts 38,912
Bank loan 13,570
Trade creditors 11,285
Directors' current accounts 858
Other creditors 82,104
Accruals 4,000
  ─────────
  150,729
  ═════════
     
10. Creditors Mar 24
Amounts falling due after more than one year £
 
Bank loan 92,012
  ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 52,482
Repayable between one and two years 13,570
Repayable between two and five years 40,709
Repayable in five years or more 37,733
  ─────────
  144,494
  ═════════
 
 
Security for the bank loan is in the form of a mortgage over the maritime vessel "Gleaner". The mortgage is in favour of AIB.
         
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total
  allowances    
       
      Mar 24
  £ £ £
 
At financial period start - - -
Charged to profit and loss 43,335 (59,993) (16,658)
  ───────── ───────── ─────────
At financial period end 43,335 (59,993) (16,658)
  ═════════ ═════════ ═════════
     
12. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 March 2024.
         
13. Related party transactions
  Balance Movement Maximum
  Mar 24 in period in period
  £ £ £
 
Sancta Maria Fisheries Ltd 1,498 1,498 -
  ═════════ ═════════ ═════════
   
14. Directors' advances, credits and guarantees
 
During the financial period, the company made a loan to a directors amounting to £858. The loan was interest free and repayable on demand.
   
15. Post-Balance Sheet Events
 
The company commenced trading after the reporting date. There have been no significant events affecting the company since the financial period-end.