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REGISTERED NUMBER: 13160797 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st January 2023

for

Douglas Marine Limited

Douglas Marine Limited (Registered number: 13160797)






Contents of the Financial Statements
for the year ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Douglas Marine Limited

Company Information
for the year ended 31st January 2023







DIRECTORS: Mr G K Coxon
Mrs L P Coxon





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 13160797 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Douglas Marine Limited (Registered number: 13160797)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 25,936 32,540
25,937 32,541

CURRENT ASSETS
Stocks 51,044 28,275
Debtors 6 21,759 25,669
Cash at bank and in hand 10,298 3,339
83,101 57,283
CREDITORS
Amounts falling due within one year 7 27,700 15,883
NET CURRENT ASSETS 55,401 41,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,338

73,941

CREDITORS
Amounts falling due after more than one
year

8

95,127

80,692
NET LIABILITIES (13,789 ) (6,751 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (13,889 ) (6,851 )
(13,789 ) (6,751 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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.

Douglas Marine Limited (Registered number: 13160797)

Balance Sheet - continued
31st January 2023


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 Board of Directors and authorised for issue on 16th October 2023 and were signed on its behalf by:





Mr G K Coxon - Director


Douglas Marine Limited (Registered number: 13160797)

Notes to the Financial Statements
for the year ended 31st January 2023

1. STATUTORY INFORMATION

Douglas 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.

Related party exemption
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.

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

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.

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 - 20% on reducing balance
Computer equipment - 33% on cost

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

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.

Douglas Marine Limited (Registered number: 13160797)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for the twelve months from the date of signing these financial accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in the preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise.

The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2022
and 31st January 2023 1
NET BOOK VALUE
At 31st January 2023 1
At 31st January 2022 1

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st February 2022
and 31st January 2023 40,282 474 40,756
DEPRECIATION
At 1st February 2022 8,057 159 8,216
Charge for year 6,445 159 6,604
At 31st January 2023 14,502 318 14,820
NET BOOK VALUE
At 31st January 2023 25,780 156 25,936
At 31st January 2022 32,225 315 32,540

Douglas Marine Limited (Registered number: 13160797)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,759 25,252
Other debtors - 417
21,759 25,669

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,506 2,179
Taxation and social security 8,599 11,659
Other creditors 4,595 2,045
27,700 15,883

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 95,127 80,692

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the directors, by virtue of their shareholding in the parent company, Coxon Holdings Limited.