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Registrar

Registration number: 04197101

New World Marine Insurance Consultants Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 30 April 2025

New World Marine Insurance Consultants Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

New World Marine Insurance Consultants Ltd

Company Information

Directors | A E Thomas N K Thomas

Registered office | 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Bankers | Barclays Bank Plc Witham Business Centre PO Box 3692 Witham Essex CM8 2AT

Accountants | Lambert Chapman LLP Chartered Accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

New World Marine Insurance Consultants Ltd

(Registration number: 04197101)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,353 | 1,805
Current assets |  |  |
Debtors | 5 | 93 | 24,491
Cash at bank and in hand |  | 227,201 | 215,344
|  | 227,294 | 239,835
Creditors: Amounts falling due within one year | 6 | (74,580) | (18,890)
Net current assets |  | 152,714 | 220,945
Total assets less current liabilities |  | 154,067 | 222,750
Provisions for liabilities |  | - | (361)
Net assets |  | 154,067 | 222,389
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | 153,967 | 222,289
Shareholders' funds |  | 154,067 | 222,389

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:

A E Thomas
Director

New World Marine Insurance Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

The principal place of business is: 6 Heathgate, Wickham Bishops, Essex, CM8 3NZ.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of marine insurance services in the ordinary course of the company’s activities. Turnover is shown net of sales returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

New World Marine Insurance Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 May 2024 | 4,250 | 4,250
At 30 April 2025 | 4,250 | 4,250
Depreciation
At 1 May 2024 | 2,445 | 2,445
Charge for the year | 452 | 452
At 30 April 2025 | 2,897 | 2,897
Carrying amount
At 30 April 2025 | 1,353 | 1,353
At 30 April 2024 | 1,805 | 1,805

New World Marine Insurance Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5 | Debtors

| 2025 £ | 2024 £
Prepayments | - | 81
Other debtors | 93 | 24,410
| 93 | 24,491

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 33,315 | 572
Social security and other taxes | 96 | -
Other payables | 1,818 | -
Accruals | 3,780 | 3,900
Directors loan | 35,571 | 14,418
| 74,580 | 18,890

New World Marine Insurance Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 100 | 100 | 100 | 100