REGISTERED NUMBER: 06263612 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LONDON SHIPBROKERS UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Jacobs

Mrs L J Jacobs

SECRETARY:

T J Jacobs

REGISTERED OFFICE:

3rd Floor

65 Petty France

Westminster

London

SW1H 9EU

REGISTERED NUMBER:

06263612 (England and Wales)

ACCOUNTANTS:

Traviss & Co Ltd

Chartered Certified Accountants

Newtown House

38 Newtown Road

Liphook

Hampshire

GU30 7DX

FIXED ASSETS

Tangible assets

4

80,480

15,898

Investments

5

-

6,000

80,480

21,898

CURRENT ASSETS

Debtors

6

543,016

610,166

Cash at bank

1,729,838

1,780,878

2,272,854

2,391,044

CREDITORS

Amounts falling due within one year

7

504,100

627,914

NET CURRENT ASSETS

1,768,754

1,763,130

TOTAL ASSETS LESS CURRENT LIABILITIES

1,849,234

1,785,028

PROVISIONS FOR LIABILITIES

19,041

2,143

NET ASSETS

1,830,193

1,782,885

CAPITAL AND RESERVES

Called up share capital

80

80

Capital redemption reserve

20

20

Retained earnings

1,830,093

1,782,785

SHAREHOLDERS' FUNDS

1,830,193

1,782,885

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 26 September 2025 and were signed on its behalf by:

T J Jacobs - Director

1.	STATUTORY INFORMATION

London Shipbrokers UK 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is recognised when the economic benefits will flow and can be reliably measured. This is regarded as when the company has a contractual entitlement to commission and is generally the point at which this is completion of contractual terms between the principals of the transaction. Time charter turnover is recognised on a monthly basis.

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

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

1,900

44,548

25,117

16,633

88,198

Additions

-

-

59,500

19,696

79,196

Disposals

-

-

(25,117

)

(998

)

(26,115

)

At 31 December 2024

1,900

44,548

59,500

35,331

141,279

DEPRECIATION

At 1 January 2024

1,249

31,785

23,790

15,476

72,300

Charge for year

163

785

6,391

6,141

13,480

Eliminated on disposal

-

-

(23,983

)

(998

)

(24,981

)

At 31 December 2024

1,412

32,570

6,198

20,619

60,799

NET BOOK VALUE

At 31 December 2024

488

11,978

53,302

14,712

80,480

At 31 December 2023

651

12,763

1,327

1,157

15,898

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

Artwork

-

6,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

354,426

371,625

Other debtors

188,590

238,541

543,016

610,166

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

16,864

69,141

Taxation and social security

260,305

330,643

Other creditors

226,931

228,130

504,100

627,914

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

98,024

98,024

Between one and five years

-

98,024

98,024

196,048