REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
SPEIGHT MARINE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
SPEIGHT MARINE LTD |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 April 2022 to 30 September 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
ABRIDGED BALANCE SHEET |
30 September 2023 |
30.9.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
ABRIDGED BALANCE SHEET - continued |
30 September 2023 |
The financial statements were approved by the director and authorised for issue on |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 April 2022 to 30 September 2023 |
1. | STATUTORY INFORMATION |
Speight Marine Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents invoiced provisons of maritime consultancy services. Revenue is recognised when goods and services are provided to the customer. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2022 to 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 31 March 2022 |
5. | POST BALANCE SHEET EVENTS |
Since 2015, Speight Marine has evolved to primarily specialise in the educational and welfare support of International Seafarers studying at UK Nautical Colleges. This support is provided on behalf of their sponsoring Ship Owners. |
At the beginning of 2020, support was being provided for 18 Angolan students at City of Glasgow College. |
13 completed their courses in mid-March and were immediately repatriated by their sponsors in advance of a shutdown of Angolan airspace due to the Covid Pandemic. As a result, this left Speight Marine responsible for applying on their behalf for their Maritime Certificates from the UK Maritime & Coastguard Agency (MCA). Given the MCAm was operating with all staff working from home was no mean feat and involved periodic work for Speight Marine Ltd through until August. |
The other 5 Angolan students remained in Glasgow beyond March to sit examinations planned for April and May, which in the event were cancelled. These 5 students then became stranded in City of Glasgow Halls of Residence until it became possible to repatriate them during July and August. Again, more periodic work for Speight Marine. |
In total, support for these 18 students for 2020/2021 created income for Speight Marine of £3,300, which has been paid and includes refundable claims for various certification costs. In addition, their sponsoring company paid invoices accrued from 2019/2020 totalling another £3,550. This improved finances to allow for the purchase of office equipment which have not been renewed for several years. |
Financial Support |
During the latter part of 2020, 3 students returned to Glasgow to study for and sit MCA Senior Officer Certificates and they were supported by Speight Marine Ltd untilthey completed during early 2021.The costs for this were invoiced and paid by their Angolam Sponsors during the summer of 2021 representing the £900 trade debtors given in the financial statements. |
In 2022 and into 2023, a limited number of students came to the UK requiring support, to the extent that the income derived failed to cover the cost of the service supplied and R W Speight made the decision to fully retire from the end of September 2023. |
SPEIGHT MARINE LTD (REGISTERED NUMBER: SC423630) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2022 to 30 September 2023 |
6. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |