REGISTERED NUMBER: |
The Rix Merlin Tankship Limited |
Financial Statements for the Year Ended 31st December 2022 |
REGISTERED NUMBER: |
The Rix Merlin Tankship Limited |
Financial Statements for the Year Ended 31st December 2022 |
The Rix Merlin Tankship Limited (Registered number: 05541773) |
Contents of the Financial Statements |
for the year ended 31st December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Rix Merlin Tankship Limited |
Company Information |
for the year ended 31st December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
HU2 8BA |
The Rix Merlin Tankship Limited (Registered number: 05541773) |
Balance Sheet |
31st December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
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 |
The Rix Merlin Tankship Limited (Registered number: 05541773) |
Notes to the Financial Statements |
for the year ended 31st December 2022 |
1. | STATUTORY INFORMATION |
The Rix Merlin Tankship Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies have remained unchanged from the previous year and are set out below. |
Turnover |
Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities, all of which are continuing, stated net of value added tax. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Motor tank barge - Straight line over 17 years |
Special survey - Straight line over 30 months |
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. |
Going concern |
The accounts have been prepared on a going concern basis because of the continuing support of the ultimate parent company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
The Rix Merlin Tankship Limited (Registered number: 05541773) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2022 |
4. | TANGIBLE FIXED ASSETS |
Motor |
tank |
barge |
£ |
COST |
At 1st January 2022 |
and 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
Charge for year |
At 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Deferred tax asset |
Accelerated capital allowances | 2,156 | - |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Corporation tax |
The amounts owed to group undertakings are secured against the motor tank barge. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
The Rix Merlin Tankship Limited (Registered number: 05541773) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2022 |
9. | CONTINGENT LIABILITIES |
The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of group borrowings. The potential liability under this agreement amounted to £45,558,350 (2021: £23,908,545). |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | ULTIMATE CONTROLLING PARTY |
The parent company of the group of undertakings for which group financial statements are drawn up and of which the company is a member is Humber Quays, Wellington Street West, Hull, HU1 2BN. Copies of J. R. Rix & Sons Limited's financial statements can be obtained from Companies House. |