Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2020-12-01false1610truetrue 01788594 2020-12-01 2021-11-30 01788594 2019-12-01 2020-11-30 01788594 2021-11-30 01788594 2020-11-30 01788594 2019-12-01 01788594 c:Director1 2020-12-01 2021-11-30 01788594 d:FurnitureFittings 2020-12-01 2021-11-30 01788594 d:FurnitureFittings 2021-11-30 01788594 d:FurnitureFittings 2020-11-30 01788594 d:FurnitureFittings d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 01788594 d:OtherPropertyPlantEquipment 2020-12-01 2021-11-30 01788594 d:CurrentFinancialInstruments 2021-11-30 01788594 d:CurrentFinancialInstruments 2020-11-30 01788594 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 01788594 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 01788594 d:ShareCapital 2021-11-30 01788594 d:ShareCapital 2020-11-30 01788594 d:SharePremium 2021-11-30 01788594 d:SharePremium 2020-11-30 01788594 d:RetainedEarningsAccumulatedLosses 2021-11-30 01788594 d:RetainedEarningsAccumulatedLosses 2020-11-30 01788594 c:FRS102 2020-12-01 2021-11-30 01788594 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 01788594 c:FullAccounts 2020-12-01 2021-11-30 01788594 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 01788594 d:AcceleratedTaxDepreciationDeferredTax 2021-11-30 01788594 d:AcceleratedTaxDepreciationDeferredTax 2020-11-30 01788594 d:RetirementBenefitObligationsDeferredTax 2021-11-30 01788594 d:RetirementBenefitObligationsDeferredTax 2020-11-30 01788594 7 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure

Registered number: 01788594










BROWN & MAY MARINE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
BROWN & MAY MARINE LIMITED
REGISTERED NUMBER: 01788594

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
133,100
90,808

  
133,100
90,808

Current assets
  

Debtors: amounts falling due within one year
 5 
819,937
721,040

Cash at bank and in hand
  
1,265,361
1,448,080

  
2,085,298
2,169,120

Creditors: amounts falling due within one year
 6 
(933,657)
(1,237,652)

Net current assets
  
 
 
1,151,641
 
 
931,468

Total assets less current liabilities
  
1,284,741
1,022,276

Provisions for liabilities
  

Deferred tax
 7 
(30,196)
(17,129)

  
 
 
(30,196)
 
 
(17,129)

Net assets
  
1,254,545
1,005,147


Capital and reserves
  

Called up share capital 
  
4
4

Share premium account
  
9,998
9,998

Profit and loss account
  
1,244,543
995,145

  
1,254,545
1,005,147


Page 1

 
BROWN & MAY MARINE LIMITED
REGISTERED NUMBER: 01788594
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S J Appleby
Director

Date: 20 April 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Brown & May Marine Limited is a private company limited by shares and incorporated in England and Wales, registration number 01788594. The registered office is Progress Way, Mid Suffolk Business Park, Langton Green, Eye, Suffolk, IP23 7HU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

Page 4

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Other fixed assets
-
15%-25% on the reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2020 - 10).

Page 6

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 December 2020
233,028


Additions
98,302


Disposals
(41,533)



At 30 November 2021

289,797



Depreciation


At 1 December 2020
142,220


Charge for the year on owned assets
29,247


Disposals
(14,770)



At 30 November 2021

156,697



Net book value



At 30 November 2021
133,100



At 30 November 2020
90,808

Page 7

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
664,883
641,494

Amounts owed by group companies
500
-

Amounts owed by associates
4,926
-

Other debtors
69,596
23,517

Prepayments and accrued income
80,032
56,029

819,937
721,040



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
306,868
191,908

Amounts owed to associates
201,556
155,253

Corporation tax
75,414
66,638

Other taxation and social security
80,662
79,838

Other creditors
250,080
704,166

Accruals and deferred income
19,077
39,849

933,657
1,237,652


Other creditors includes an amount due to third parties of £233,411 (2020: £658,446) that is represented by cash at bank held on client account that was mostly paid out by 31 December 2021. 


7.


Deferred taxation




2021
2020


£

£






At beginning of year
(17,129)
(15,046)


Charged to profit or loss
(13,067)
(2,083)



At end of year
(30,196)
(17,129)

Page 8

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
 
7.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(30,432)
(17,254)

Pension surplus
236
125

(30,196)
(17,129)


8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £89,675 (2020: £117,892). Contributions totalling £945 (2020: £656) were payable to the fund at the balance sheet date and are included in creditors.


9.


Transactions with directors

At the year end the directors owed the company £46,079 (2020: Creditor balance £30,000) which was repaid after the year end. Interest has been charged on any overdrawn balances at 2% per annum.

Page 9

 
BROWN & MAY MARINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

10.


Related party transactions

Brown and May Marine Limited is a wholly owned subsidiary of Brown and May Marine Holdings Limited.
No transactions have been disclosed in relation to Brown and May Marine Holdings Limited, in line with the exemption contained within the Financial Reporting Standard 8.
Included in debtors at the year end date is a balance of £3,926 owed from Langtons Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders. (2020: Other creditors balance £30,942).
Included in debtors at the year end date is a balance of £500 owed from Salpen Holdings Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders.
Included in debtors at the year end date is a balance of £500 owed from Brown & May Food Holdings Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders.
Included in creditors at the year end date is a balance of £194,747 owed to Brown & May Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders. (2020: £124,311).
Included in creditors at the year end date is a balance of £6,809 owed to Salpen Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders.

 
Page 10