Company Registration No. 12122539 (England and Wales)
CITRINE MARINE SERVICES LTD
Unaudited accounts
for the year ended 31 July 2023
CITRINE MARINE SERVICES LTD
Unaudited accounts
Contents
CITRINE MARINE SERVICES LTD
Company Information
for the year ended 31 July 2023
Directors
Totyu Gyurov VASILEV
Gergana Mateeva VASILEVA
Company Number
12122539 (England and Wales)
Registered Office
13 Curton Close,
Edgware
HA8 8GR
Accountants
VSCT Tax Consultancy Ltd
Chartered Certified Accountants and
Tax Advisers
406 Brighton Road
South Croydon
CR2 6AN
CITRINE MARINE SERVICES LTD
Statement of financial position
as at 31 July 2023
Tangible assets
65,020
41,616
Cash at bank and in hand
340,108
345,820
Creditors: amounts falling due within one year
(63,704)
(85,003)
Net current assets
276,404
261,817
Total assets less current liabilities
341,424
303,433
Creditors: amounts falling due after more than one year
(33,010)
(14,794)
Net assets
308,414
288,639
Called up share capital
1
1
Profit and loss account
308,413
288,638
Shareholders' funds
308,414
288,639
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2023 and were signed on its behalf by
Totyu Gyurov VASILEV
Director
Company Registration No. 12122539
CITRINE MARINE SERVICES LTD
Notes to the Accounts
for the year ended 31 July 2023
CITRINE MARINE SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 12122539. The registered office is 13 Curton Close,, Edgware, HA8 8GR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Motor vehicles
20% on cost
Computer equipment
25% on cost
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
CITRINE MARINE SERVICES LTD
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2022
39,484
35,769
-
9,954
85,207
Additions
4,900
44,492
4,000
3,109
56,501
Disposals
-
(7,847)
-
-
(7,847)
At 31 July 2023
44,384
72,414
4,000
13,063
133,861
At 1 August 2022
19,742
19,410
-
4,439
43,591
Charge for the year
11,126
10,366
1,000
2,758
25,250
At 31 July 2023
30,868
29,776
1,000
7,197
68,841
At 31 July 2023
13,516
42,638
3,000
5,866
65,020
At 31 July 2022
19,742
16,359
-
5,515
41,616
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
3,941
3,893
Taxes and social security
58,463
68,811
Loans from directors
-
8,679
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
33,010
14,794
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).