Registration number: 02987400

Maritime Atlantic Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Maritime Atlantic Limited

Company Information

Director

Mr PA Crowther

Registered office

Unit 1 Temple Bar Business Park Strettington Lane Chichester West Sussex PO18 0TU

Accountants

Chisnall Comer Ismail & Co Chartered AccountantsMaria House 35 Millers Road Brighton BN1 5NP

Maritime Atlantic Limited

(Registration number: 02987400)
Balance Sheet as at 30 November 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	-	1,769,998
Current assets
Debtors	5	1,956,830	7,989
Cash at bank and in hand		1,366	-
		1,958,196	7,989
Creditors: Amounts falling due within one year	6	(247,048)	(493,089)
Net current assets/(liabilities)		1,711,148	(485,100)
Total assets less current liabilities		1,711,148	1,284,898
Creditors: Amounts falling due after more than one year	6	(2,057,740)	(2,057,740)
Provisions for liabilities		-	(454,810)
Net liabilities		(346,592)	(1,227,652)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		(346,692)	(1,227,752)
Shareholders' deficit		(346,592)	(1,227,652)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Maritime Atlantic Limited

(Registration number: 02987400)
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 12 August 2026



 

.........................................

Mr PA Crowther

Director

Maritime Atlantic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
Unit 1
Temple Bar Business Park
Strettington Lane
Chichester
West Sussex
PO18 0TU

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Maritime Atlantic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% Straight Line
Plant & Machinery	10% Straight Line

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 1).

Maritime Atlantic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4	Tangible assets

	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 December 2022	11,832	3,078,258	3,090,090
Disposals	-	(3,078,258)	(3,078,258)
At 30 November 2023	11,832	-	11,832
Depreciation
At 1 December 2022	11,832	1,308,260	1,320,092
Eliminated on disposal	-	(1,308,260)	(1,308,260)
At 30 November 2023	11,832	-	11,832
Carrying amount
At 30 November 2023	-	-	-
At 30 November 2022	-	1,769,998	1,769,998

5

Debtors

Current	Note	2023 £	2022 £
Trade debtors		-	6,630
Amounts owed by related parties		10,699	-
Other debtors		1,946,131	1,359
		1,956,830	7,989

6

Creditors

Creditors: amounts falling due within one year

Maritime Atlantic Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

	Note	2023 £	2022 £
Due within one year
Trade creditors		3,914	2,066
Amounts owed to group undertakings and undertakings in which the company has a participating interest		367,714	367,714
Taxation and social security		402,552	14,645
Accruals and deferred income		10,660	8,590
Other creditors		(537,792)	100,074
		247,048	493,089

Creditors: amounts falling due after more than one year

	Note	2023 £	2022 £
Due after one year
Loans and borrowings		50,000	50,000
Other financial liabilities		2,007,740	2,007,740
		2,057,740	2,057,740

7	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100