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REGISTERED NUMBER: 06026430 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Servac International Marine Technologies
Limited

Servac International Marine Technologies
Limited (Registered number: 06026430)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Servac International Marine Technologies
Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: S M Hadnett





REGISTERED OFFICE: Unit 1d
Littlehampton Marina
Ferry Road
Littlehampton
West Sussex
BN17 5DS





REGISTERED NUMBER: 06026430 (England and Wales)





ACCOUNTANTS: Croft Accounting Limited
25 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TT

Servac International Marine Technologies
Limited (Registered number: 06026430)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500 600
Tangible assets 5 93,296 35,280
93,796 35,880

CURRENT ASSETS
Stocks 74,000 60,000
Debtors 6 399,940 356,430
Cash at bank 86,502 68,616
560,442 485,046
CREDITORS
Amounts falling due within one year 7 175,753 227,237
NET CURRENT ASSETS 384,689 257,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,485

293,689

CREDITORS
Amounts falling due after more than one year 8 (22,125 ) (32,083 )

PROVISIONS FOR LIABILITIES (39,969 ) (28,368 )
NET ASSETS 416,391 233,238

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves - (99 )
Retained earnings 416,291 233,237
416,391 233,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Servac International Marine Technologies
Limited (Registered number: 06026430)

Balance Sheet - continued
30 September 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 director and authorised for issue on 29 November 2023 and were signed by:





S M Hadnett - Director


Servac International Marine Technologies
Limited (Registered number: 06026430)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Servac International Marine Technologies 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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 etc - 25% on reducing balance and 20% on reducing balance

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.


Servac International Marine Technologies
Limited (Registered number: 06026430)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

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 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 2,000
AMORTISATION
At 1 October 2022 1,400
Charge for year 100
At 30 September 2023 1,500
NET BOOK VALUE
At 30 September 2023 500
At 30 September 2022 600

Servac International Marine Technologies
Limited (Registered number: 06026430)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 141,494
Additions 85,181
Disposals (22,694 )
At 30 September 2023 203,981
DEPRECIATION
At 1 October 2022 106,214
Charge for year 17,870
Eliminated on disposal (13,399 )
At 30 September 2023 110,685
NET BOOK VALUE
At 30 September 2023 93,296
At 30 September 2022 35,280

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 326,492 341,505
Other debtors 73,448 14,925
399,940 356,430

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 98,938 147,865
Taxation and social security 68,442 72,402
Other creditors 8,373 6,970
175,753 227,237

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 22,125 32,083

Servac International Marine Technologies
Limited (Registered number: 06026430)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
S M Hadnett
Balance outstanding at start of year - -
Amounts advanced 72,000 -
Amounts repaid (37,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,000 -