Cornavin Shipping Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01633798 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

CORNAVIN SHIPPING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C W T Gamon

Mrs M S Gamon

W F C Gamon

SECRETARY:

Mrs M S Gamon

REGISTERED OFFICE:

The Galleries

Charters Road

Sunningdale

Ascot

Berkshire

SL5 9QJ

REGISTERED NUMBER:

01633798 (England and Wales)

ACCOUNTANTS:

Davis Burton Sellek

Chartered Accountants

The Galleries

Charters Road

Sunningdale

Berkshire

SL5 9QJ

BANKERS:

Handelsbanken

50 - 52 London Road

Bligh's Meadow

Sevenoaks

Kent

TN13 1AS

FIXED ASSETS

Tangible assets

5

651,531

652,912

CURRENT ASSETS

Debtors

6

591

867

Cash at bank and in hand

4,798

6,524

5,389

7,391

CREDITORS

Amounts falling due within one year

7

468,278

472,586

NET CURRENT LIABILITIES

(462,889

)

(465,195

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

188,642

187,717

CAPITAL AND RESERVES

Called up share capital

10,000

Other reserves

419,160

Retained earnings

(240,518

)

(241,443

)

SHAREHOLDERS' FUNDS

188,642

187,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 1 December 2025 and were signed on its behalf by:

C W T Gamon - Director

1.	STATUTORY INFORMATION

Cornavin Shipping Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors believe that the preparation of the financial statements on a going concern basis is applicable. The company is however reliant on the directors' continued financial support.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

The freehold property, used by the company as its business premises, is measured at fair value at each reporting date with changes in fair value recognised in the non distributable reserves.

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 taxation

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

COST OR VALUATION

At 1 June 2024

and 31 May 2025

650,000

20,010

4,735

674,745

DEPRECIATION

At 1 June 2024

-

18,689

3,144

21,833

Charge for year

-

198

1,183

1,381

At 31 May 2025

-

18,887

4,327

23,214

NET BOOK VALUE

At 31 May 2025

650,000

1,123

408

651,531

At 31 May 2024

650,000

1,321

1,591

652,912

Cost or valuation at 31 May 2025 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

Valuation in 1999

113,088

-

113,088

Valuation in 2001

125,000

-

125,000

Valuation in 2010

75,000

-

75,000

Valuation in 2016

(25,000

)

-

(25,000

)

Valuation in 2022

50,000

-

50,000

Cost

311,912

20,010

4,735

336,657

650,000

20,010

4,735

674,745

If the freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

311,912

Aggregate depreciation

139,520

135,160

Value of land in freehold land and buildings

93,912

The freehold property was valued on a fair value basis on 31 May 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

591

867

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Tax

531

-

Directors' loan accounts

463,746

468,746

Accrued expenses

4,001

3,840

468,278

472,586

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr and Mrs C W T Gamon by virtue of their directorships and shareholdings.