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REGISTERED NUMBER: 02545578 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MINDORO MARINE LIMITED

MINDORO MARINE LIMITED (REGISTERED NUMBER: 02545578)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MINDORO MARINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: J D SMALL



SECRETARY: S CLIFFORD



REGISTERED OFFICE: 40 WEST STREET
FAVERSHAM
KENT
ME13 7JG



REGISTERED NUMBER: 02545578 (England and Wales)



ACCOUNTANTS: GOLDWYNS
CHARTERED ACCOUNTANTS
109 BAKER STREET
LONDON
W1U 6RP



BANKERS: NATIONAL WESTMINSTER BANK
1-2 FINSBURY SQUARE
LONDON
EC2A 1JH

MINDORO MARINE LIMITED (REGISTERED NUMBER: 02545578)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 337

CURRENT ASSETS
Debtors 5 13,275 18,000
Cash at bank 12,930 32,557
26,205 50,557
CREDITORS
Amounts falling due within one year 6 16,190 20,677
NET CURRENT ASSETS 10,015 29,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,015

30,217

CREDITORS
Amounts falling due after more than one year 7 8,057 12,985
NET ASSETS 1,958 17,232

CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Retained earnings 10 (42 ) 15,232
SHAREHOLDERS' FUNDS 1,958 17,232

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

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

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 22 April 2024 and were signed by:



J D SMALL - Director


MINDORO MARINE LIMITED (REGISTERED NUMBER: 02545578)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

MINDORO 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.

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 represents sales of services, excluding value added tax. Sales are recognised on delivery of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 50% on cost

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

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.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MINDORO MARINE LIMITED (REGISTERED NUMBER: 02545578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 674
DEPRECIATION
At 1 November 2022 337
Charge for year 337
At 31 October 2023 674
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 337

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,700 18,000
Directors' current accounts 10,575 -
13,275 18,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 7,910 6,814
Tax - 4,615
VAT 5,226 3,567
Other creditors 854 1,551
Directors' current accounts - 2,030
Accrued expenses 2,200 2,100
16,190 20,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 8,057 12,985

Interest is charged at commercial rate.

MINDORO MARINE LIMITED (REGISTERED NUMBER: 02545578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,910 6,814

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,061 4,935

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,996 8,050

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 ORDINARY £1 2,000 2,000

10. RESERVES
Retained
earnings
£   

At 1 November 2022 15,232
Deficit for the year (5,274 )
Dividends (10,000 )
At 31 October 2023 (42 )

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

These were the payments and advances to the director during the year and an amount of £10,575 is owed by the director as at 31 October 2023. This amount is repayable within nine months of the company's financial year end.