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REGISTERED NUMBER: SC333817 (Scotland)















LAND & MARINE TRIMMERS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAND & MARINE TRIMMERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: G A Williams
D E James





REGISTERED OFFICE: 1 Exchange Crescent
Conference Square
Edinburgh
Lothian
EH3 8AN





REGISTERED NUMBER: SC333817 (Scotland)

LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 32,628 16,362

CURRENT ASSETS
Stocks 5 22,000 22,000
Debtors 6 54,708 83,751
Cash at bank 29,585 40,169
106,293 145,920
CREDITORS
Amounts falling due within one year 7 (25,020 ) (49,463 )
NET CURRENT ASSETS 81,273 96,457
TOTAL ASSETS LESS CURRENT LIABILITIES 113,901 112,819

CREDITORS
Amounts falling due after more than one
year

8

(5,431

)

(10,085

)

PROVISIONS FOR LIABILITIES (6,199 ) (3,109 )
NET ASSETS 102,271 99,625

CAPITAL AND RESERVES
Called up share capital 9 103 103
Retained earnings 102,168 99,522
SHAREHOLDERS' FUNDS 102,271 99,625

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 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.

LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





G A Williams - Director


LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

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


1. STATUTORY INFORMATION

Land & Marine Trimmers Limited is a private company, limited by shares , registered in Scotland. 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of specialist upholstery and trimmings is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

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


2. ACCOUNTING POLICIES - continued
Tax
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.

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.

Leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

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.

3. EMPLOYEES AND DIRECTORS

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

LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 7,759 8,650 24,499 40,908
Additions - - 26,969 26,969
At 31 October 2023 7,759 8,650 51,468 67,877
DEPRECIATION
At 1 November 2022 6,569 7,258 10,719 24,546
Charge for year 238 278 10,187 10,703
At 31 October 2023 6,807 7,536 20,906 35,249
NET BOOK VALUE
At 31 October 2023 952 1,114 30,562 32,628
At 31 October 2022 1,190 1,392 13,780 16,362

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 24,499
DEPRECIATION
At 1 November 2022 10,719
Charge for year 3,445
At 31 October 2023 14,164
NET BOOK VALUE
At 31 October 2023 10,335
At 31 October 2022 13,780

5. STOCKS
2023 2022
£    £   
Stocks 22,000 22,000

LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,540 55,810
Amounts owed by group undertakings 14,739 23,510
Tax 2,470 -
Prepayments and accrued income 3,959 4,431
54,708 83,751

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,655 4,655
Trade creditors 12,066 20,220
Tax - 4,947
Social security and other taxes 1,119 1,941
Pension control 134 144
VAT 3,809 8,944
Accruals and deferred income 3,237 8,612
25,020 49,463

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,431 10,085

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100
3 Ordinary A-J 3 3 3
103 103

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £16,145 (2022 - £30,990) for rental of premises.