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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
Page
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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
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CITRINE MARINE SERVICES LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
65,020 
41,616 
Current assets
Debtors
- 
1,000 
Cash at bank and in hand
340,108 
345,820 
340,108 
346,820 
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 
Capital and reserves
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
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CITRINE MARINE SERVICES LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Leased assets
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 taxation
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.
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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 
Depreciation
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 
Net book value
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 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
1,000 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
400 
2,900 
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 
Accruals
900 
720 
63,704 
85,003 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
33,010 
14,794 
8
Share capital
2023 
2022 
£ 
£ 
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).
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