IRIS Accounts Production v24.1.0.578 07722462 director 1.6.22 31.5.23 31.5.23 0 0 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077224622022-05-31077224622023-05-31077224622022-06-012023-05-31077224622021-05-31077224622021-06-012022-05-31077224622022-05-3107722462ns15:EnglandWales2022-06-012023-05-3107722462ns14:PoundSterling2022-06-012023-05-3107722462ns10:Director12022-06-012023-05-3107722462ns10:PrivateLimitedCompanyLtd2022-06-012023-05-3107722462ns10:SmallEntities2022-06-012023-05-3107722462ns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3107722462ns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107722462ns10:SmallCompaniesRegimeForAccounts2022-06-012023-05-3107722462ns10:FullAccounts2022-06-012023-05-3107722462ns10:RegisteredOffice2022-06-012023-05-3107722462ns5:CurrentFinancialInstruments2023-05-3107722462ns5:CurrentFinancialInstruments2022-05-3107722462ns5:Non-currentFinancialInstruments2023-05-3107722462ns5:Non-currentFinancialInstruments2022-05-3107722462ns5:ShareCapital2023-05-3107722462ns5:ShareCapital2022-05-3107722462ns5:RetainedEarningsAccumulatedLosses2023-05-3107722462ns5:RetainedEarningsAccumulatedLosses2022-05-3107722462ns5:CostValuation2022-05-3107722462ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3107722462ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3107722462ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3107722462ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-3107722462ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-3107722462ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-05-31
REGISTERED NUMBER: 07722462 (England and Wales)












Marine Associates Limited

Unaudited Financial Statements

for the Year Ended 31st May 2023






Marine Associates Limited (Registered number: 07722462)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Marine Associates Limited

Company Information
for the Year Ended 31st May 2023







DIRECTOR: J Fielding





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07722462 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Marine Associates Limited (Registered number: 07722462)

Statement of Financial Position
31st May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 346,400 346,400

CURRENT ASSETS
Debtors 5 150,660 73,871
Cash at bank 184 1,070
150,844 74,941
CREDITORS
Amounts falling due within one year 6 (327,217 ) (199,663 )
NET CURRENT LIABILITIES (176,373 ) (124,722 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,027

221,678

CREDITORS
Amounts falling due after more than one
year

7

(58,666

)

(105,826

)
NET ASSETS 111,361 115,852

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 111,261 115,752
SHAREHOLDERS' FUNDS 111,361 115,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Marine Associates Limited (Registered number: 07722462)

Statement of Financial Position - continued
31st May 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 director and authorised for issue on 23rd April 2024 and were signed by:





J Fielding - Director


Marine Associates Limited (Registered number: 07722462)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Marine Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Marine Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st June 2022
and 31st May 2023 346,400
NET BOOK VALUE
At 31st May 2023 346,400
At 31st May 2022 346,400

Marine Associates Limited (Registered number: 07722462)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 42,611
Amounts owed by group undertakings 144,400 25,000
Prepayments 6,260 6,260
150,660 73,871

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 37,160 44,000
Trade creditors 7,148 7,260
Amounts owed to group undertakings 196,890 79,726
Tax 74,297 57,111
Accrued expenses 1,722 1,566
327,217 199,663

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 23,333 33,333
Other loans 35,333 72,493
58,666 105,826