Baltic & Oriental Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04994315 (England and Wales)

Baltic & Oriental Company Limited

Unaudited Financial Statements for the Year Ended 31st December 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Captain J F Holmes

REGISTERED OFFICE:

42 Trinity Court

Hull

East Yorkshire

HU1 2NB

REGISTERED NUMBER:

04994315 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

692

-

CURRENT ASSETS

Debtors

5

40,144

47,129

Cash at bank

314,232

167,070

354,376

214,199

CREDITORS

Amounts falling due within one year

6

54,347

25,928

NET CURRENT ASSETS

300,029

188,271

TOTAL ASSETS LESS CURRENT LIABILITIES

300,721

188,271

PROVISIONS FOR LIABILITIES

132

-

NET ASSETS

300,589

188,271

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

299,589

187,271

SHAREHOLDERS' FUNDS

300,589

188,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th May 2022 and were signed by:

Captain J F Holmes - Director

1.	STATUTORY INFORMATION

Baltic & Oriental Company 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 company provides shipping services in the Black Sea region including Bulgaria, Romania, Ukraine, Russia (excluding Crimea), Georgia, Turkey and Greece.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

30% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2021

1,000

Additions

769

Disposals

(1,000

)

At 31st December 2021

769

DEPRECIATION

At 1st January 2021

1,000

Charge for year

77

Eliminated on disposal

(1,000

)

At 31st December 2021

77

NET BOOK VALUE

At 31st December 2021

692

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

22,543

29,421

Other debtors

17,601

17,708

40,144

47,129

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

27,139

10,556

Other creditors

27,208

15,372

54,347

25,928

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary Shares

£1

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1st January 2021

187,271

Profit for the year

116,318

Dividends

(4,000

)

At 31st December 2021

299,589

9.	PENSION COMMITMENTS

The company makes payments into a defined contribution pension scheme for the benefit of its employees. Contributions are charged to the profit and loss account when they fall due. The charge for the year amounted to £43 (2020 £Nil). At the year end there were outstanding pension contributions totalling £34 (2020 £Nil).

10.	RELATED PARTY DISCLOSURES

At 31 December 2021 the company owed £25,937 (2020 £14,568) to the director.