Limb Shipping & Chartering (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07089405

Limb Shipping & Chartering (UK) Limited

Filleted Unaudited Financial Statements

Year ended

31 December 2024

Limb Shipping & Chartering (UK) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		68,197		45,148

Current assets

Debtors	6	1,299,051	400,833
Cash at bank and in hand		541,180	735,713
		-------------	-------------
		1,840,231	1,136,546

Creditors: amounts falling due within one year	7	1,164,270		606,956
		-------------		-------------
Net current assets			675,961		529,590
			----------		----------
Total assets less current liabilities			744,158		574,738

Provisions	11,034	4,007
	----------	----------
Net assets	733,124	570,731
	----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	733,024	570,631
	----------	----------
Shareholders funds	733,124	570,731
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Limb Shipping & Chartering (UK) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

Mr D J Booth

Director

Company registration number: 07089405

Limb Shipping & Chartering (UK) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is White Rose Park, Larsen Road, Goole, DN14 6XF.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the sales invoice is raised. (d) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. (e) Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. (f) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (g) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Motor vehicles	-	20% reducing balance

(h) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(i) Financial instruments

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

(j) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	24,059	9,799	22,989	56,847
Additions	–	–	34,083	34,083
	--------	-------	--------	--------
At 31 December 2024	24,059	9,799	57,072	90,930
	--------	-------	--------	--------
Depreciation
At 1 January 2024	–	7,101	4,598	11,699
Charge for the year	–	539	10,495	11,034
	--------	-------	--------	--------
At 31 December 2024	–	7,640	15,093	22,733
	--------	-------	--------	--------
Carrying amount
At 31 December 2024	24,059	2,159	41,979	68,197
	--------	-------	--------	--------
At 31 December 2023	24,059	2,698	18,391	45,148
	--------	-------	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	1,238,051	375,528
Amounts owed by group undertakings and undertakings in which the company has a participating interest	45,000	–
Other debtors	16,000	25,305
	-------------	----------
	1,299,051	400,833
	-------------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,092,577	559,652
Corporation tax	59,786	40,280
Social security and other taxes	6,891	4,134
Other creditors	5,016	2,890
	-------------	----------
	1,164,270	606,956
	-------------	----------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D J Booth	–	96,107	( 96,316)	( 209)
	----	--------	--------	----

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D J Booth	10,000	117,386	( 127,386)	–
	--------	----------	----------	----