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COMPANY REGISTRATION NUMBER: 11990152

Cargo Mariners Ltd

Filleted Unaudited Financial Statements

30 April 2025

Cargo Mariners Ltd

Financial Statements

Year ended 30 April 2025

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Cargo Mariners Ltd

Statement of Financial Position

30 April 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Intangible assets | 5 | 80,986 | 38,500
Tangible assets | 6 | 71 | 119
Investments | 7 | 98,986 | 190,639
| --------- | ---------
| 180,043 | 229,258

Current assets

Debtors | 8 | 1,030,513 | 1,257,868
Cash at bank and in hand | 260,867 | 151,901
| ------------ | ------------
| 1,291,380 | 1,409,769

Creditors: amounts falling due within one year | 9 | 1,088,778 | 1,338,545
| ------------ | ------------
Net current assets | 202,602 | 71,224
| --------- | ---------
Total assets less current liabilities | 382,645 | 300,482
| --------- | ---------
Net assets | 382,645 | 300,482
| --------- | ---------

Capital and reserves

Called up share capital | 20 | 20
Profit and loss account | 382,625 | 300,462
| --------- | ---------
Shareholders funds | 382,645 | 300,482
| --------- | ---------

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 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 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 .

Cargo Mariners Ltd

Statement of Financial Position (continued)

30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 31 March 2026 , and are signed on behalf of the board by:

R J Fraser
Director

Company registration number: 11990152

Cargo Mariners Ltd

Notes to the Financial Statements

Year ended 30 April 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 27 Old Gloucester Street, London, W31N 3AX, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

| Equipment | - | 20% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2024: 4 ).
5. Intangible assets

| Software Development
| £
Cost |
At 1 May 2024 | 38,500
Additions | 42,486
| --------
At 30 April 2025 | 80,986
| --------
Amortisation |
At 1 May 2024 and 30 April 2025 | –
| --------
Carrying amount |
At 30 April 2025 | 80,986
| --------
At 30 April 2024 | 38,500
| --------

6. Tangible assets

| Equipment
| £
Cost |
At 1 May 2024 and 30 April 2025 | 239
| ----
Depreciation |
At 1 May 2024 | 120
Charge for the year | 48
| ----
At 30 April 2025 | 168
| ----
Carrying amount |
At 30 April 2025 | 71
| ----
At 30 April 2024 | 119
| ----

7. Investments

| Other investments other than loans
| £
Cost |
At 1 May 2024 | 190,639
Disposals | ( 91,653)
| ---------
At 30 April 2025 | 98,986
| ---------
Impairment |
At 1 May 2024 and 30 April 2025 | –
| ---------

Carrying amount |
At 30 April 2025 | 98,986
| ---------
At 30 April 2024 | 190,639
| ---------

8. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 141,742 | 327,323
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 634,737 | 506,300
Other debtors | 254,034 | 424,245
| ------------ | ------------
| 1,030,513 | 1,257,868
| ------------ | ------------

9. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 657,011 | 852,898
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 109,825 | 32,404
Corporation tax | 8,951 | 41,303
Social security and other taxes | 4,951 | 10,813
Other creditors | 308,040 | 401,127
| ------------ | ------------
| 1,088,778 | 1,338,545
| ------------ | ------------

10. Directors' advances, credits and guarantees
At the year end the directors owed the company £37,800 (2024: the company owed the directors £8,500).
11. Related party transactions
At the year end the company was owed £634,737 (2024: £506,300) by companies associated under common control. At the year end the company owed £109,825 (2024: £32,404) to companies associated under common control.