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REGISTERED NUMBER: 05207110 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GEOFF WADDINGTON MARINE LIMITED

GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEOFF WADDINGTON MARINE LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: W G Waddington
Mrs J Waddington





SECRETARY: Mrs J Waddington





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 05207110 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,261 9,319
8,261 9,319

CURRENT ASSETS
Debtors 6 4,992 4,969
Cash at bank and in hand 3,312 3,043
8,304 8,012
CREDITORS
Amounts falling due within one year 7 25,431 19,985
NET CURRENT LIABILITIES (17,127 ) (11,973 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,866

)

(2,654

)

CAPITAL AND RESERVES
Called up share capital 80 80
Capital redemption reserve 20 20
Retained earnings (8,966 ) (2,754 )
SHAREHOLDERS' FUNDS (8,866 ) (2,654 )

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

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

GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)

BALANCE SHEET - continued
31 October 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





W G Waddington - Director


GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Geoff Waddington Marine 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.

These accounts have been prepared on a going-concern basis notwithstanding the deficit of reserves because it is supported by loans from the directors and they are of the opinion that the company will trade out of the position showing at the year end.

Turnover
Turnover represents the total services provided and invoiced during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2004, was amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
General equipment - 15% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 15,000
AMORTISATION
At 1 November 2022
and 31 October 2023 15,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

GEOFF WADDINGTON MARINE LIMITED (REGISTERED NUMBER: 05207110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
General Computer
equipment equipment Totals
£    £    £   
COST
At 1 November 2022 20,290 4,169 24,459
Additions - 511 511
At 31 October 2023 20,290 4,680 24,970
DEPRECIATION
At 1 November 2022 10,971 4,169 15,140
Charge for year 1,398 171 1,569
At 31 October 2023 12,369 4,340 16,709
NET BOOK VALUE
At 31 October 2023 7,921 340 8,261
At 31 October 2022 9,319 - 9,319

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,125 3,022
Other debtors 1,867 1,947
4,992 4,969

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 39 113
Other creditors 25,392 19,872
25,431 19,985

8. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who are the shareholders.