Ebbsfleet Marine Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03781404 (England and Wales)

Ebbsfleet Marine Limited

Unaudited Financial Statements for the Year Ended 31 December 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

S W Hoadley

REGISTERED OFFICE:

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

BUSINESS ADDRESS:

Berth 5

Gillingham Gate

Chatham Docks

Chatham

Kent

ME4 4SW

REGISTERED NUMBER:

03781404 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

CURRENT ASSETS

Inventories

723,442

1,025,323

Debtors

4

886

815

Cash at bank

563

543

724,891

1,026,681

CREDITORS

Amounts falling due within one year

5

1,130,808

1,092,998

NET CURRENT LIABILITIES

(405,917

)

(66,317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(405,917

)

(66,317

)

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

(405,929

)

(66,329

)

SHAREHOLDERS' FUNDS

(405,917

)

(66,317

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 November 2020 and were signed by:

S W Hoadley - Director

1.	STATUTORY INFORMATION

Ebbsfleet Marine 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Inventories

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

886

815

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

6,691

2,862

Other creditors

1,124,117

1,090,136

1,130,808

1,092,998

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Debentures

239,358

249,160

The debenture is secured by a fixed charge over a vessel included as stocks in the balance sheet.

7.	RELATED PARTY DISCLOSURES

Other creditors include £883,288 owing to the director and former directors, all of whom had indicated that the unsecured and interest free monies owed to them would only be repaid as and when cash flow allow.