Company No: 09472735 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	Mr F J Jansen
	Mrs D Jansen

Registered office	Platform Nine Floor 5
	Tower Point
	44 North Road
	Brighton
	BN1 1YR
	United Kingdom

Company number

09472735 (England and Wales)

Chartered accountants	Kreston Reeves LLP
	Plus X Innovation Hub
	Lewes Road
	Brighton, East Sussex
	BN2 4GL

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jansen Maritime Services Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 9 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Jansen Maritime Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jansen Maritime Services Limited. You consider that Jansen Maritime Services Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Jansen Maritime Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Jansen Maritime Services Limited, as a body, in accordance with the terms of our engagement letter dated 07 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Jansen Maritime Services Limited and state those matters that we have agreed to state to the Board of Directors of Jansen Maritime Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jansen Maritime Services Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

Plus X Innovation Hub
Lewes Road
Brighton, East Sussex
BN2 4GL

10 September 2025

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	5,887		5,718
		5,887		5,718
Current assets
Debtors	4	154,152		207,876
Cash at bank and in hand		101,896		217,164
		256,048		425,040
Creditors: amounts falling due within one year	5	( 158,429)		( 201,488)
Net current assets		97,619		223,552
Total assets less current liabilities		103,506		229,270
Provision for liabilities	6	( 666)		( 572)
Net assets		102,840		228,698
Capital and reserves
Called-up share capital	7	200		200
Share premium account		43,446		43,446
Profit and loss account		59,194		185,052
Total shareholder's funds		102,840		228,698

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Jansen Maritime Services Limited (registered number: 09472735) were approved and authorised for issue by the Board of Directors on 10 September 2025. They were signed on its behalf by:

Mr F J Jansen Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jansen Maritime Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Platform Nine Floor 5, Tower Point, 44 North Road, Brighton, BN1 1YR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		6

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2024	14,020		14,020
Additions	3,395		3,395
At 31 December 2024	17,415		17,415
Accumulated depreciation
At 01 January 2024	8,302		8,302
Charge for the financial year	3,226		3,226
At 31 December 2024	11,528		11,528
Net book value
At 31 December 2024	5,887		5,887
At 31 December 2023	5,718		5,718

4. Debtors

	2024		2023
	£		£
Trade debtors	53,023		78,816
Prepayments	6,713		4,818
Other debtors	94,416		124,242
	154,152		207,876

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	2,462		44,520
Accruals	3,375		3,180
Corporation tax	28,829		31,881
Other taxation and social security	18,508		7,183
Other creditors	105,255		114,724
	158,429		201,488

6. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 572)		272
Charged to the Statement of Income and Retained Earnings	( 94)		( 844)
At the end of financial year	( 666)		( 572)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 666)		( 572)

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

8. Financial commitments

Other financial commitments

The company had total guarantees and commitments at the balance sheet date of £12,600 (2023: £42,840).

Pensions

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,668 (2023: £1,868). Contributions totalling £Nil (2023: £Nil) were receivable to the fund at the balance sheet date and are included in other creditors.

9. Related party transactions

JMS Yachting Limited
(Parent Company)
During the year Jansen Maritime Services Limited provided an unsecured interest free loan to JMS Yachting Limited. At the balance sheet date the amount owed from JMS Yachting Limited is £55,237 (2023: £94,898).

JMS Yachting USA LLC
(Related Company)
During the year JMS USA provided an unsecured interest free loan to Jansen Maritime Services Limited. At the balance sheet date the amount owed to JMS USA is £4,833 (2023: £4,833).

JMS Monaco SARL
(Related Company)
During the year JMS Monaco SARL provided an unsecured interest free loan to Jansen Maritime Services Limited. At the balance sheet date the amount owed to JMS Monaco SARL is £19,260 (2023: £20,364).

Jansen Holdings Limited
(Related Company)
During the year Jansen Maritime Services Limited provided an unsecured interest free loan to Jansen Holdings Limited. At the balance sheet date the amount owed from Jansen Holdings Limited is £5,844 (2023: £420).

Franc Jansen
(Director)
During the year the director provided the company with an interest free loan repayable on demand. At the balance sheet date the amount due to the director was £9,081 (2023: £10,696).