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REGISTERED NUMBER: 01601565 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED

CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED (REGISTERED NUMBER: 01601565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: V Browne





REGISTERED OFFICE: First Floor Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 01601565 (England and Wales)





AUDITORS: Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED (REGISTERED NUMBER: 01601565)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 464,329 589,371
Cash at bank 2,948 22,834
467,277 612,205
CREDITORS
Amounts falling due within one year 5 261,636 174,018
NET CURRENT ASSETS 205,641 438,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,641

438,187

CREDITORS
Amounts falling due after more than one year 6 8,849 255,922
NET ASSETS 196,792 182,265

CAPITAL AND RESERVES
Called up share capital 84,242 84,242
Profit and loss account 112,550 98,023
SHAREHOLDERS' FUNDS 196,792 182,265

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





V Browne - Director


CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED (REGISTERED NUMBER: 01601565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Cermar Maritime Enterprises (U.k.) 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. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover from chartering services is recognised when the Bill of Lading is issued and freight becomes payable which is usually within 7 days after the Bill of Lading is signed.

Agency fees and income from insurances are recognised in the financial statements when they have been earned.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transacttion price, unless the arrangement constitutes a financial 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 unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets or liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED (REGISTERED NUMBER: 01601565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company costs charged in the financial statements represents the company's obligations under Workplace Pension Reform following the staging date which arose during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 35,696
Amounts owed by group undertakings 464,329 553,675
464,329 589,371

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 251,010 164,496
Taxation and social security 3,407 891
Other creditors 7,219 8,631
261,636 174,018

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,849 255,922

CERMAR MARITIME ENTERPRISES (U.K.)
LIMITED (REGISTERED NUMBER: 01601565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Danny Fine FCA (Senior Statutory Auditor)
for and on behalf of Melinek Fine LLP