Dorian LPG (UK) Ltd - Accounts to registrar (filleted) - small 18.2
Dorian LPG (UK) Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| DORIAN LPG (UK) LTD |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Page |
| Company information | 1 |
| Statement of financial position | 2 |
| Notes to the financial statements | 3 |
| DORIAN LPG (UK) LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Directors: |
| Registered office: |
| Registered number: |
| Senior statutory auditor: |
| Auditors: |
| Chartered Accountants & Statutory Auditors |
| 12 Conqueror Court |
| Sittingbourne |
| Kent |
| ME10 5BH |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2021 |
| 2021 | 2020 |
| Notes | $ | $ | $ | $ |
| Fixed assets |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 10 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| 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 |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 1. | Statutory information |
| Dorian LPG (UK) Ltd is a |
| The presentation currency of the financial statements is the US Dollar ($). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Dorian LPG (UK) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, DORIAN LPG (USA) LLC,, United States of America.. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Shares in Group undertakings are stated at cost less any provision for impairment. |
| The Company assesses investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. If any such indication of impairment exists, the Company makes an estimate of the recoverable amount. If the recoverable amount of the cash-generating unit is less than the value of the investment, the investment is considered to be impaired and is written down to its recoverable amount. An impairment loss is recognised immediately in the profit and loss account. |
| 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 statement of financial position date. |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 3. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions for liabilities |
| The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 5. | Tangible fixed assets |
| Fixtures |
| Improvements | and | Computer |
| to property | fittings | equipment | Totals |
| $ | $ | $ | $ |
| Cost |
| At 1 April 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2021 |
| Depreciation |
| At 1 April 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| 6. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| $ |
| Cost |
| At 1 April 2020 |
| and 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| 7. | Debtors |
| 2021 | 2020 |
| $ | $ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Intercompany debtor | 500,665 | 249,058 |
| VAT |
| Prepaid expenses |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 7. | Debtors - continued |
| 2021 | 2020 |
| $ | $ |
| Amounts falling due after more than one year: |
| Rent deposit |
| Aggregate amounts |
| 8. | Creditors: amounts falling due within one year |
| 2021 | 2020 |
| $ | $ |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| Accrued leave days | 97,306 | 31,190 |
| Deferred income |
| Accrued expenses |
| 9. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| $ | $ |
| Within one year |
| Between one and five years |
| 10. | Provisions for liabilities |
| 2021 | 2020 |
| $ | $ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred tax |
| $ |
| Balance at 1 April 2020 |
| Accelerated capital allowances | 522 |
| Balance at 31 March 2021 |
| 11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| DORIAN LPG (UK) LTD (REGISTERED NUMBER: 08780058) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 12. | Ultimate parent company |
| Dorian LPG (USA) LLC (incorporated in the United States of America) is the company's parent company. |
| Dorian LPG Ltd (incorporated in the Republic of The Marshall Islands) is regarded by the directors as being the company's ultimate parent company. |