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Go Tankers Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11160836
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 453,035 506,567
453,035 506,567
CURRENT ASSETS
Debtors 5 127,099 72,519
Cash at bank and in hand 88,137 67,909
215,236 140,428
Creditors: Amounts Falling Due Within One Year 6 (1,198,697 ) (1,186,740 )
NET CURRENT ASSETS (LIABILITIES) (983,461 ) (1,046,312 )
TOTAL ASSETS LESS CURRENT LIABILITIES (530,426 ) (539,745 )
Creditors: Amounts Falling Due After More Than One Year 7 (41,654 ) (69,265 )
NET LIABILITIES (572,080 ) (609,010 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (572,180 ) (609,110 )
SHAREHOLDERS' FUNDS (572,080) (609,010)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Ileana Radu
Director
31/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Go Tankers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11160836 . The registered office is 12 Barbers Road, London, E15 2PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 25% on Reducing Balance
Motor Vehicles 25% on Reducing Balance
Fixtures & Fittings 15% on Reducing Balance
Computer Equipment 25% on Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 128,835 555,497 6,435 14,305 705,072
Additions 17,224 - - - 17,224
As at 30 June 2024 146,059 555,497 6,435 14,305 722,296
Depreciation
As at 1 July 2023 76,591 109,395 3,531 8,988 198,505
Provided during the period 17,003 51,495 865 1,393 70,756
As at 30 June 2024 93,594 160,890 4,396 10,381 269,261
Net Book Value
As at 30 June 2024 52,465 394,607 2,039 3,924 453,035
As at 1 July 2023 52,244 446,102 2,904 5,317 506,567
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 114,467 68,985
Other debtors 12,632 3,534
127,099 72,519
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 31,116 97,630
Trade creditors 113,395 50,264
Other taxes and social security 37,322 33,001
Other creditors 1,013,864 1,002,845
Accruals and deferred income 3,000 3,000
1,198,697 1,186,740
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,654 69,265
41,654 69,265
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,116 97,630
Later than one year and not later than five years 41,654 69,265
72,770 166,895
72,770 166,895
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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