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Company No: 03584522 (England and Wales)

# NORFOLK CHARTERING AND SHIPPING LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

NORFOLK CHARTERING AND SHIPPING LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

NORFOLK CHARTERING AND SHIPPING LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 30 June 2025
NORFOLK CHARTERING AND SHIPPING LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 5,704 |  | 6,264
|  | 5,704 |  | 6,264
Current assets |  |  |  |
Debtors | 4 | 43,025 |  | 109,231
Cash at bank and in hand |  | 122,651 |  | 262,949
|  | 165,676 |  | 372,180
Creditors: amounts falling due within one year | 5 | ( 34,270) |  | ( 320,902)
Net current assets |  | 131,406 |  | 51,278
Total assets less current liabilities |  | 137,110 |  | 57,542
Net assets |  | 137,110 |  | 57,542
Capital and reserves |  |  |  |
Called-up share capital |  | 190 |  | 190
Profit and loss account |  | 136,920 |  | 57,352
Total shareholders' funds |  | 137,110 |  | 57,542

For the financial year ending 30 June 2025 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 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 Income Statement has not been delivered.

The financial statements of Norfolk Chartering and Shipping Limited (registered number: 03584522) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P D Jones Director |

26 September 2025

NORFOLK CHARTERING AND SHIPPING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
NORFOLK CHARTERING AND SHIPPING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 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

Norfolk Chartering and Shipping 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 Brookside 1 Retreat Drive, Caston, Attleborough, NR17 1GZ, 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 £.

##### 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 Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Income Statement 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 Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position 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.

##### 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 Statement of Financial Position date.

##### 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 | 20 % reducing balance

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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

##### 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.

##### 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

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 3

#### 3. Tangible assets

| Office equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 July 2024 | 11,999 |  | 11,999
Additions | 853 |  | 853
Disposals | ( 131) |  | ( 131)
At 30 June 2025 | 12,721 |  | 12,721
Accumulated depreciation |  |  |
At 01 July 2024 | 5,735 |  | 5,735
Charge for the financial year | 1,347 |  | 1,347
Disposals | ( 65) |  | ( 65)
At 30 June 2025 | 7,017 |  | 7,017
Net book value |  |  |
At 30 June 2025 | 5,704 |  | 5,704
At 30 June 2024 | 6,264 |  | 6,264

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 1,553 |  | 99,816
Amounts owed by directors | 39,655 |  | 6,829
Prepayments | 1,318 |  | 1,596
VAT recoverable | 499 |  | 990
| 43,025 |  | 109,231

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 788 |  | 307,153
Accruals | 4,090 |  | 5,264
Corporation tax | 29,295 |  | 8,418
Other taxation and social security | 97 |  | 67
| 34,270 |  | 320,902

There are no amounts included above in respect of which any security has been given by the company.

#### 6. Related party transactions

At the year end, the company was owed £39,655 by the director (2024: £6,829). Interest of £795 has been charged during the year (2024: £283).