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REGISTERED NUMBER: 04412095 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Argyll Shipping Limited

Argyll Shipping Limited (Registered number: 04412095)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Argyll Shipping Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: J F F Campbell





REGISTERED OFFICE: Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF





BUSINESS ADDRESS: Merchant House
Parsonage Square
Station Road
Dorking
Surrey
RH4 1UP





REGISTERED NUMBER: 04412095 (England and Wales)





ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

Argyll Shipping Limited (Registered number: 04412095)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 12,021 19,028

CURRENT ASSETS
Debtors 6 267,027 376,802
Cash at bank and in hand 837,219 589,217
1,104,246 966,019
CREDITORS
Amounts falling due within one year 7 377,383 284,632
NET CURRENT ASSETS 726,863 681,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,884

700,415

PROVISIONS FOR LIABILITIES 2,960 3,528
NET ASSETS 735,924 696,887

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 735,824 696,787
SHAREHOLDERS' FUNDS 735,924 696,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Argyll Shipping Limited (Registered number: 04412095)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





J F F Campbell - Director


Argyll Shipping Limited (Registered number: 04412095)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Argyll Shipping Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Argyll Shipping Limited (Registered number: 04412095)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 4,590 15,191 28,244 48,025
Additions - - 884 884
Disposals - (885 ) (3,984 ) (4,869 )
At 31 August 2024 4,590 14,306 25,144 44,040
DEPRECIATION
At 1 September 2023 459 8,074 20,464 28,997
Charge for year 459 1,778 5,652 7,889
Eliminated on disposal - (883 ) (3,984 ) (4,867 )
At 31 August 2024 918 8,969 22,132 32,019
NET BOOK VALUE
At 31 August 2024 3,672 5,337 3,012 12,021
At 31 August 2023 4,131 7,117 7,780 19,028

6. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Other debtors 1,390 1,393
Directors' current accounts - 10,671
VAT 1,114 1,081
Prepayments 17,390 16,524
19,894 29,669

Argyll Shipping Limited (Registered number: 04412095)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS - continued
31.8.24 31.8.23
£    £   
Amounts falling due after more than one year:
Other debtors 247,133 347,133

Aggregate amounts 267,027 376,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Tax 326,579 235,640
Social security and other taxes 46,308 42,443
Other creditors 1,451 1,317
Accrued expenses 3,045 5,232
377,383 284,632

8. SECURED DEBTS

The bank overdraft facility is secured by a personal guarantee given by the director.

9. OTHER FINANCIAL COMMITMENTS

The company had financial commitments not included in the financial statements totalling £123,563 (2023 - £156,512) at the year end.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
J F F Campbell
Balance outstanding at start of year 10,671 -
Amounts advanced - 10,671
Amounts repaid (10,671 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,671

11. ULTIMATE CONTROLLING PARTY

The controlling party is J F F Campbell.

12. ASSESSMENT BY THE DIRECTOR OF GOING CONCERN STATUS

The director has considered the going concern status of the company in the director's report.

Argyll Shipping Limited (Registered number: 04412095)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. CHARGES

A fixed charge, dated 23 February 2016, is held by DVB Bank SE, as agent, in respect of a commercial manager's undertaking by Argyll Shipping Ltd in relation to one ship.Two fixed charges, dated 27 October 2021 and 13 January 2023, are held by Credit Agricole Corporate and Investment Bank, as security agents, in respect of a commercial manager's undertaking by Argyll Shipping Ltd in relation to two ships. A fixed charge dated 13 February 2023 is held by Clifford Capital Pte. Ltd, as security agents in respect of a commercial manager's undertaking by Argyll Shipping Ltd in relation to one ship. A fixed charge dated 24 May 2024, is held by Credit Suisse AG in respect of a commercial managers undertaking by Argyll Shipping Ltd in relation to one ship. Under the commercial manager's undertakings, any and all claims by Argyll Shipping Ltd against the ships' insurers or other third parties, in respect of the ships concerned, will rank second to the claims of the chargor. Argyll Shipping Ltd will also forego their right to bring claims against the ship owners for any funds owed.