REGISTERED NUMBER: 03047054 (England and Wales)

Financial Statements

for the Period 31st December 2023 to 28th December 2024

for

Eurobulk Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M. Deer

S. J. Rigby

M. G. Swain

REGISTERED OFFICE:

Vulcan House

Medway Freight Centre

Priory Road

Rochester

Kent

ME2 2BD

REGISTERED NUMBER:

03047054 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eurobulk Ltd for the period ended 28th December 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Eurobulk Ltd 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 loss of Eurobulk Ltd. You consider that Eurobulk Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Eurobulk Ltd. 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.

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

10th September 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,705

15,882

12,705

15,882

CURRENT ASSETS

Debtors

6

1,222,575

590,047

Cash at bank

24,473

35,606

1,247,048

625,653

CREDITORS

Amounts falling due within one year

7

1,863,171

1,148,873

NET CURRENT LIABILITIES

(616,123

)

(523,220

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(603,418

)

(507,338

)

CREDITORS

Amounts falling due after more than one year

8

87,021

-

NET LIABILITIES

(690,439

)

(507,338

)

CAPITAL AND RESERVES

Called up share capital

23

23

Capital redemption reserve

23

23

Retained earnings

(690,485

)

(507,384

)

(690,439

)

(507,338

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 10th September 2025 and were signed on its behalf by:

M. G. Swain - Director

1.	STATUTORY INFORMATION

Eurobulk Ltd 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.

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.

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.

Plant and machinery etc

-

20% on reducing balance

Taxation

Taxation for the period 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 period 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.

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.

Going concern

The directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the company will continues in business. In satisfaction of this responsibility the directors have considered the company's ability to meet its liabilities as they fall due.

The current and future financial position of the company, its cash flow and liquidity position have been reviewed by the directors. Despite having net liabilities, the company has obtained assurances that the immediate parent company will provide such financial support as necessary to facilitate the development and growth of the company and to meet the long term objectives. The company has secured a second phase contract and is currently trading at a profit. In view of the above the Directors consider that the going concern basis is still applicable to the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31st December 2023

and 28th December 2024

7,500

AMORTISATION

At 31st December 2023

and 28th December 2024

7,500

NET BOOK VALUE

At 28th December 2024

-

At 30th December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31st December 2023

and 28th December 2024

27,108

DEPRECIATION

At 31st December 2023

11,226

Charge for period

3,177

At 28th December 2024

14,403

NET BOOK VALUE

At 28th December 2024

12,705

At 30th December 2023

15,882

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

591,488

206,940

Other debtors and prepayments

261,675

48,954

Deferred tax asset

369,412

324,517

1,222,575

580,411

Amounts falling due after more than one year:

Other debtors

-

9,636

Aggregate amounts

1,222,575

590,047

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

5,219

Trade creditors

1,606,555

1,136,112

Social security and other taxes

33,156

-

Other creditors and accruals

223,460

7,542

1,863,171

1,148,873

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

87,021

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

5,219

Hire purchase agreements are secured against the assets financed.

10.	HOLDING COMPANY

The holding company is Ebbsfleet Transport Limited (Co number 03119694).