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REGISTERED NUMBER: 06324609















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Southbay Marine Limited

Southbay Marine Limited (Registered number: 06324609)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Southbay Marine Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: G I Green
Mrs G Green





SECRETARY:





REGISTERED OFFICE: Unit 214
South Shields Business Works
Henry Robson Way
South Shields
Tyne and Wear
NE33 1RF





REGISTERED NUMBER: 06324609





ACCOUNTANTS: Grosvenor Business and Accountancy Services Ltd
Unit 214
South Shields Business Works
Henry Robson Way
South Shields
Tyne and Wear
NE33 1RF

Southbay Marine Limited (Registered number: 06324609)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,062 206,750
Investments 5 100,000 100,000
305,062 306,750

CURRENT ASSETS
Debtors 6 268,497 73,938
Cash at bank 14,612 150,041
283,109 223,979
CREDITORS
Amounts falling due within one year 7 107,521 108,985
NET CURRENT ASSETS 175,588 114,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,650

421,744

CREDITORS
Amounts falling due after more than one
year

8

268,969

261,724
NET ASSETS 211,681 160,020

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 211,631 159,970
SHAREHOLDERS' FUNDS 211,681 160,020

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

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

Southbay Marine Limited (Registered number: 06324609)

Balance Sheet - continued
31 July 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 10 April 2024 and were signed on its behalf by:





G I Green - Director


Southbay Marine Limited (Registered number: 06324609)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Southbay Marine Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Southbay Marine Limited (Registered number: 06324609)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 200,000 9,000 209,000
DEPRECIATION
At 1 August 2022 - 2,250 2,250
Charge for year - 1,688 1,688
At 31 July 2023 - 3,938 3,938
NET BOOK VALUE
At 31 July 2023 200,000 5,062 205,062
At 31 July 2022 200,000 6,750 206,750

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 100,000
NET BOOK VALUE
At 31 July 2023 100,000
At 31 July 2022 100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 7,300 26,100
Other debtors 261,197 47,838
268,497 73,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors - 2
Taxation and social security 12,661 14,123
Other creditors 94,860 94,860
107,521 108,985

Southbay Marine Limited (Registered number: 06324609)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors 268,969 261,724