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2023-06-05
Sage Accounts Production Advanced 2024 - FRS102_2024
10,977
xbrli:pure
xbrli:shares
iso4217:USD
14915257
2023-06-05
2024-06-30
14915257
2024-06-30
14915257
2023-06-04
14915257
2022-07-01
2023-06-04
14915257
2023-06-04
14915257
2022-06-30
14915257
bus:Director1
2023-06-05
2024-06-30
14915257
bus:CompanySecretary1
2023-06-05
2024-06-30
14915257
bus:Director1
2024-06-30
14915257
core:WithinOneYear
2024-06-30
14915257
core:ShareCapital
2023-06-05
2024-06-30
14915257
core:RetainedEarningsAccumulatedLosses
2023-06-05
2024-06-30
14915257
core:ShareCapital
2024-06-30
14915257
core:RetainedEarningsAccumulatedLosses
2024-06-30
14915257
bus:SmallEntities
2023-06-05
2024-06-30
14915257
bus:AuditExempt-NoAccountantsReport
2023-06-05
2024-06-30
14915257
bus:SmallCompaniesRegimeForAccounts
2023-06-05
2024-06-30
14915257
bus:PrivateLimitedCompanyLtd
2023-06-05
2024-06-30
14915257
bus:FullAccounts
2023-06-05
2024-06-30
COMPANY REGISTRATION NUMBER:
14915257
Unaudited Financial Statements |
|
Period from 5 June 2023 to 30 June 2024
Statement of comprehensive income |
2 |
|
|
Statement of financial position |
3 |
|
|
Statement of changes in equity |
4 |
|
|
Notes to the financial statements |
5 |
|
|
Period from 5 June 2023 to 30 June 2024
The director presents his report and the unaudited financial statements of the company for the period ended
30 June 2024
.
Principal activities
The principal activity of the company during the year was shipping transportation services through renting and leasing of chartered-in and chartered-out vessels.
Director
The director who served the company during the period was as follows:
Mrs Sophia Louise Ciccone |
(Appointed
5 June 2023) |
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
27 February 2025
and signed on behalf of the board by:
Mrs Sophia Louise Ciccone |
Fiduci-Corp (UK) Services Limited |
Director |
Company Secretary |
|
|
Statement of Comprehensive Income |
|
Period from 5 June 2023 to 30 June 2024
|
Period from |
|
5 Jun 23 to |
|
30 Jun 24 |
Note |
USD |
Turnover |
15,111,709 |
|
|
Cost of sales |
(
15,100,425) |
|
------------- |
Gross profit |
11,284 |
|
|
Administrative expenses |
(
21,870) |
|
-------- |
Operating loss |
(
10,586) |
|
|
Other interest receivable and similar income |
370 |
|
-------- |
Loss before taxation |
(
10,216) |
|
|
Tax on loss |
(
761) |
|
-------- |
Loss for the financial period and total comprehensive income |
(
10,977) |
|
-------- |
|
|
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the period as set out above.
Statement of Financial Position |
|
30 June 2024
Current assets
Debtors |
4 |
1,196,046 |
Cash at bank and in hand |
2,737 |
|
------------ |
|
1,198,783 |
|
|
|
Creditors: amounts falling due within one year |
5 |
1,209,646 |
|
------------ |
Net current liabilities |
10,863 |
|
-------- |
Total assets less current liabilities |
(
10,863) |
|
-------- |
Net liabilities |
(
10,863) |
|
-------- |
|
|
|
Capital and reserves
Called up share capital |
114 |
Profit and loss account |
(
10,977) |
|
-------- |
Shareholder deficit |
(
10,863) |
|
-------- |
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
Mrs Sophia Louise Ciccone |
|
Director |
|
|
|
Company registration number:
14915257
Statement of Changes in Equity |
|
Period from 5 June 2023 to 30 June 2024
|
Called up share capital |
Profit and loss account |
Total |
|
USD |
USD |
USD |
At 5 June 2023 |
– |
– |
– |
|
|
|
|
Loss for the period |
|
(
10,977) |
(
10,977) |
|
---- |
-------- |
-------- |
Total comprehensive income for the period |
– |
(
10,977) |
(
10,977) |
|
|
|
|
Issue of shares |
114 |
– |
114 |
|
---- |
---- |
---- |
Total investments by and distributions to owners |
114 |
– |
114 |
|
|
|
|
|
---- |
-------- |
-------- |
At 30 June 2024 |
114 |
(
10,977) |
(
10,863) |
|
---- |
-------- |
-------- |
|
|
|
|
Notes to the Financial Statements |
|
Period from 5 June 2023 to 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St. Georges House, 6th Floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in US Dollar, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
30 Jun 24 |
|
USD |
Trade debtors |
1,195,362 |
Other debtors |
684 |
|
------------ |
|
1,196,046 |
|
------------ |
|
|
5.
Creditors:
amounts falling due within one year
|
30 Jun 24 |
|
USD |
Trade creditors |
1,206,604 |
Accruals and deferred income |
2,281 |
Corporation tax |
761 |
|
------------ |
|
1,209,646 |
|
------------ |
|
|