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REGISTERED NUMBER: 04666055 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

C & J Marine Limited

C & J Marine Limited (Registered number: 04666055)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C & J Marine Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr C J Davies
Mrs R C Kingswell
Mr G W Strickland
Mr S Chapman





SECRETARY: Mrs K M Davies





REGISTERED OFFICE: Clay Lane
Chichester
West Sussex
PO19 3JG





REGISTERED NUMBER: 04666055 (England and Wales)





ACCOUNTANTS: Andrew Spencer Associates Limited
Chartered Certified Accountants
328 Chatsworth Avenue
Cosham
Portsmouth
Hampshire
PO6 2UP

C & J Marine Limited (Registered number: 04666055)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £   
FIXED ASSETS
Intangible assets 4 9,908 8,762
Tangible assets 5 42,258 50,673
52,166 59,435

CURRENT ASSETS
Stocks 131,896 73,549
Debtors 6 96,783 72,022
Cash at bank and in hand 174,065 251,566
402,744 397,137
CREDITORS
Amounts falling due within one year 7 (232,038 ) (239,912 )
NET CURRENT ASSETS 170,706 157,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,872

216,660

CREDITORS
Amounts falling due after more than one
year

8

(36,576

)

(46,667

)

PROVISIONS FOR LIABILITIES (9,912 ) (11,292 )
NET ASSETS 176,384 158,701

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 176,383 158,700
SHAREHOLDERS' FUNDS 176,384 158,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

C & J Marine Limited (Registered number: 04666055)

Balance Sheet - continued
31 March 2022


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 Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:





Mr G W Strickland - Director


C & J Marine Limited (Registered number: 04666055)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

C & J 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.

The financial statements relate to C & J Marine Limited as an individual entity.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, event or action. Actual results may differ from those amounts.

Significant judgements

The decision on the method of leasing can have a significant impact on the financial statements. The directors believe that the operating leases are appropriate to the commercial objectives of the company and are satisfied that the company meets the accounting criteria contained within FRS102.

Significant estimates

Accounting for basic financial instruments such as trade debtors involves judgement about uncertain events. Assumptions are made about future recoverability of debt which is reviewed by the directors and is used to determine any appropriate bad debt provision.

Depreciation policies are based on expected useful lives of the different categories of assets. The directors consider these to be appropriate.

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

Deposits are received in advance of manufacture, where agreed, and are held within other creditors until complete. Once complete the deposit is recognised as Income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following rates
Website - 15% reducing balance

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer Equipment - 33% on cost and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

C & J Marine Limited (Registered number: 04666055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in line with Sections 11 and 12 for FRS102.

Basic financial instruments, such as bank and cash loans, amounts due to/from group undertakings, trade receivables and payables are initially recognised at transaction price, unless they constitute a financing arrangement, when the transaction is measured at the present value of the future receipts/payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 18 ) .

C & J Marine Limited (Registered number: 04666055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2021 29,828
Additions 2,500
At 31 March 2022 32,328
AMORTISATION
At 1 April 2021 21,066
Charge for year 1,354
At 31 March 2022 22,420
NET BOOK VALUE
At 31 March 2022 9,908
At 31 March 2021 8,762

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 207,348
Additions 5,881
Disposals (10,981 )
At 31 March 2022 202,248
DEPRECIATION
At 1 April 2021 156,675
Charge for year 14,237
Eliminated on disposal (10,922 )
At 31 March 2022 159,990
NET BOOK VALUE
At 31 March 2022 42,258
At 31 March 2021 50,673

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 74,868 48,784
Amounts owed by group undertakings 4,273 4,273
Other debtors 17,642 18,965
96,783 72,022

C & J Marine Limited (Registered number: 04666055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 10,000 3,333
Trade creditors 37,809 42,454
Taxation and social security 42,514 44,395
Other creditors 141,715 149,730
232,038 239,912

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans 36,576 46,667

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.22 31.3.21
£    £   
Within one year 695 161
Between one and five years 2,260 -
2,955 161

10. RELATED PARTY DISCLOSURES

C & J Marine Holdings (Southern) Limited
The parent company

A management charge of £48,000 (2021: £36,000) was charged by the related party to the company in the year.

Dividends totalling £Nil (2021:£Nil) were paid from the company to the related party in the year.

In addition to the above the company made payments on behalf of the related party of £Nil (2021:£Nil) and repayments of borrowings of £Nil (2021:£Nil) leaving the balance owed by the related party at £4,273 (2021:£4,273)

The parent company owns the property from which the company trades. No rent is charged between the companies.

11. ULTIMATE CONTROLLING PARTY

The controlling party is C & J Marine Holdings (Southern)Limited.

The ultimate controlling party is Mr C J Davies.