2023-01-012023-12-312023-12-31false10507517MARINE WOOD SOLUTIONS 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MARINE WOOD SOLUTIONS LIMITED

Registered Number
10507517
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

MARINE WOOD SOLUTIONS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

BABEY, Michael

Registered Address

4 Horns Drove
Rownhams
Southampton
SO16 8AH

Registered Number

10507517 (England and Wales)
MARINE WOOD SOLUTIONS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,121139
1,121139
Current assets
Debtors78,683-
Cash at bank and on hand6,8585,892
15,5415,892
Creditors amounts falling due within one year8(7,546)(4,182)
Net current assets (liabilities)7,9951,710
Total assets less current liabilities9,1161,849
Net assets9,1161,849
Capital and reserves
Called up share capital1,0001,000
Profit and loss account8,116849
Shareholders' funds9,1161,849
The financial statements were approved and authorised for issue by the Director on 16 April 2024, and are signed on its behalf by:
BABEY, Michael
Director
Registered Company No. 10507517
MARINE WOOD SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment33
Revenue recognition policy
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.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 231,4461,446
Additions1,0891,089
At 31 December 232,5352,535
Depreciation and impairment
At 01 January 231,3071,307
Charge for year107107
At 31 December 231,4141,414
Net book value
At 31 December 231,1211,121
At 31 December 22139139
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BABEY, Michael(238)57,51148,5908,683
(238)57,51148,5908,683
7.Debtors within one year

2023

2022

££
Amounts owed by associates and joint ventures / participating interests8,683-
Total8,683-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Amounts owed to related parties-238
Taxation and social security6,6712,833
Accrued liabilities and deferred income8751,111
Total7,5464,182
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.