Company registration number 11743937 (England and Wales)
CLEAN SHIPPING ALLIANCE 2020 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
CLEAN SHIPPING ALLIANCE 2020 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CLEAN SHIPPING ALLIANCE 2020 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
15,704
15,686
Cash at bank and in hand
88,203
74,395
103,907
90,081
Creditors: amounts falling due within one year
4
(4,563)
(9,480)
Net current assets
99,344
80,601
Reserves
Income and expenditure account
99,344
80,601
Members' funds
99,344
80,601
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 March 2024 and are signed on its behalf by:
Mr J Dowsett
Director
Company registration number 11743937 (England and Wales)
CLEAN SHIPPING ALLIANCE 2020 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Clean Shipping Alliance 2020 Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is TORM plc, Office 105, 20 St Dunstan's Hill, London, EC3R 8HL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Income and expenditure
Income from members subscriptions, and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.4
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
CLEAN SHIPPING ALLIANCE 2020 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
15,704
15,686
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,603
8,520
Other creditors
960
960
4,563
9,480
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.