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REGISTERED NUMBER: 02090925 (England and Wales)










Financial Statements

for the Year Ended 31 December 2023

for

A.P.T. Marine Engineering Limited

A.P.T. Marine Engineering Limited (Registered number: 02090925)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.P.T. Marine Engineering Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A P Tofton
J P Tofton





REGISTERED OFFICE: Unit 3 and Rear Yard
Link House, Estate Road 1
South Humberside Ind Estate
Grimsby
N E Lincolnshire
DN31 2TB





REGISTERED NUMBER: 02090925 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Suite 32/33 Normany Gateway,
Lysaghts Way,
Scunthorpe
North Lincolnshire
DN15 9YG

A.P.T. Marine Engineering Limited (Registered number: 02090925)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,491 21,399

CURRENT ASSETS
Stocks 58,000 20,500
Debtors 5 248,154 259,046
Cash at bank 77,006 150,204
383,160 429,750
CREDITORS
Amounts falling due within one year 6 (70,460 ) (102,323 )
NET CURRENT ASSETS 312,700 327,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,191

348,826

PROVISIONS FOR LIABILITIES 7 (3,120 ) (4,066 )
NET ASSETS 327,071 344,760

CAPITAL AND RESERVES
Called up share capital 8 8 8
Retained earnings 9 327,063 344,752
SHAREHOLDERS' FUNDS 327,071 344,760

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

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

A.P.T. Marine Engineering Limited (Registered number: 02090925)

Balance Sheet - continued
31 December 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 8 April 2024 and were signed on its behalf by:




A P Tofton - Director



J P Tofton - Director


A.P.T. Marine Engineering Limited (Registered number: 02090925)

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

1. STATUTORY INFORMATION

A.P.T. Marine Engineering 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 the net invoiced amount for the sale of goods and work done, excluding value added tax.


TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

A.P.T. Marine Engineering Limited (Registered number: 02090925)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 4,300 157,420 130,530 6,410 298,660
Additions - 11,950 - - 11,950
At 31 December 2023 4,300 169,370 130,530 6,410 310,610
DEPRECIATION
At 1 January 2023 4,300 153,703 113,293 5,965 277,261
Charge for year - 2,000 13,413 445 15,858
At 31 December 2023 4,300 155,703 126,706 6,410 293,119
NET BOOK VALUE
At 31 December 2023 - 13,667 3,824 - 17,491
At 31 December 2022 - 3,717 17,237 445 21,399

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 240,711 243,928
Tax - 3,918
VAT - 7,772
Prepayments and accrued income 7,443 3,428
248,154 259,046

A.P.T. Marine Engineering Limited (Registered number: 02090925)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 26,159 57,428
Corporation tax 6,180 -
Other taxes & social security 13,290 14,748
VAT 12,338 -
Other creditors 5,531 7,170
Pension Fund 1,369 1,696
Directors' current accounts 1,425 17,425
Accrued expenses 4,168 3,856
70,460 102,323

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,120 4,066

Deferred
tax
£   
Balance at 1 January 2023 4,066
Provided during year (946 )
Balance at 31 December 2023 3,120

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8 Ordinary 1 8 8

9. RESERVES
Retained
earnings
£   

At 1 January 2023 344,752
Profit for the year 174,311
Dividends (192,000 )
At 31 December 2023 327,063