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COMPANY REGISTRATION NUMBER: 06911325

North Sea Maritime Limited

Filleted Unaudited Financial Statements

31 December 2025

North Sea Maritime Limited

Financial Statements

Year ended 31 December 2025

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

North Sea Maritime Limited

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 2,419 |  | 1,229

Current assets

Stocks | 3,500 |  | 3,500 |
Debtors | 7 | 3,468 |  | – |
Cash at bank and in hand | 136,929 |  | 219,350 |
| --------- |  | --------- |
| 143,897 |  | 222,850 |

Creditors: amounts falling due within one year | 8 | 133,465 |  | 152,180 |
| --------- |  | --------- |
Net current assets |  | 10,432 |  | 70,670
|  | -------- |  | --------
Total assets less current liabilities |  | 12,851 |  | 71,899

Creditors: amounts falling due after more than one year | 9 |  | – |  | 10,868
|  | -------- |  | --------
Net assets |  | 12,851 |  | 61,031
|  | -------- |  | --------

Capital and reserves

Called up share capital | 10 |  | 4 |  | 4
Profit and loss account |  | 12,847 |  | 61,027
|  | -------- |  | --------
Shareholders funds |  | 12,851 |  | 61,031
|  | -------- |  | --------

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 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 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 .

North Sea Maritime Limited

Statement of Financial Position (continued)

31 December 2025
These financial statements were approved by the board of directors and authorised for issue on 18 February 2026 , and are signed on behalf of the board by:

F J Johnson | S A Johnson
Director | Director

Company registration number: 06911325

North Sea Maritime Limited

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the commission and 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 significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income 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 pay or recover 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:

| Office equipment | - | 20 % straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets

| Equipment | Total
| £ | £
Cost |  |
At 1 January 2025 | 8,970 | 8,970
Additions | 2,065 | 2,065
| -------- | --------
At 31 December 2025 | 11,035 | 11,035
| -------- | --------
Depreciation |  |
At 1 January 2025 | 7,741 | 7,741
Charge for the year | 875 | 875
| -------- | --------
At 31 December 2025 | 8,616 | 8,616
| -------- | --------
Carrying amount |  |
At 31 December 2025 | 2,419 | 2,419
| -------- | --------
At 31 December 2024 | 1,229 | 1,229
| -------- | --------

6. Investments

| Shares in group undertaking
| £
Cost |
At 1 January 2025 and 31 December 2025 | 2
| ----
Impairment |
At 1 January 2025 and 31 December 2025 | 2
| ----

Carrying amount |
At 31 December 2025 | –
| ----
At 31 December 2024 | –
| ----

The company owns the issued share capital of the following company. This company is incorporated in England and Wales.
North Sea Maritime Yacht Sales Limited - 100% (Dormant)
7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 126 | –
Corporation tax repayable | 3,342 | –
| ------- | ----
| 3,468 | –
| ------- | ----

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 10,552 | 10,000
Trade creditors | – | 24
Accruals and deferred income | 2,260 | 2,260
Corporation tax | – | 13,314
Social security and other taxes | 381 | 40,798
Director loan accounts | 120,195 | 85,784
Other creditors | 77 | –
| --------- | ---------
| 133,465 | 152,180
| --------- | ---------

9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | – | 10,868
| ---- | --------

10. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 4 | 4 | 4 | 4
| ---- | ---- | ---- | ----

11. Related party transactions
At the balance sheet date the company owed the directors £120,195 (2024: £85,784) in the form of a loan account. This loan, which is shown amongst creditors, is interest free and repayable on demand.