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REGISTERED NUMBER: 01455234 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

FRENCH MARINE MOTORS LIMITED

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)






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


FRENCH MARINE MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: M A French
J M French
S M French





SECRETARY: J M French





REGISTERED OFFICE: 63 Waterside
Brightlingsea
Essex
CO7 0AX





REGISTERED NUMBER: 01455234 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 87,763 86,076
87,763 86,076

CURRENT ASSETS
Stocks 6 506,566 474,241
Debtors 7 98,541 167,637
Cash at bank 130,589 49,455
735,696 691,333
CREDITORS
Amounts falling due within one year 8 497,948 465,529
NET CURRENT ASSETS 237,748 225,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,511

311,880

CREDITORS
Amounts falling due after more than one
year

9

(37,892

)

(41,771

)

PROVISIONS FOR LIABILITIES (8,090 ) (7,430 )
NET ASSETS 279,529 262,679

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 279,429 262,579
SHAREHOLDERS' FUNDS 279,529 262,679

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.

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




M A French - Director J M French - Director




S M French - Director


FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

French Marine Motors 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.

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.

Turnover
Turnover represents amounts invoiced by the company in respect of goods and services provided during the year, excluding Value Added Tax. The turnover and profit before taxation are both attributable to the principal activity of the company carried out in the UK.

Goodwill
Goodwill has been amortised over a period of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Tools & equipment - 15% on reducing balance

Government grants
Government Grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value. For some of the extensive range of stock, item cost is computed at selling price less estimated profit margin. Work in progress is valued 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 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.

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022
and 31 October 2023 10,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Short Plant and Tools &
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 November 2022 17,584 96,681 390,700 504,965
Additions - 18,050 5,303 23,353
Disposals - (19,649 ) - (19,649 )
At 31 October 2023 17,584 95,082 396,003 508,669
DEPRECIATION
At 1 November 2022 17,584 68,493 332,812 418,889
Charge for year - 11,206 9,479 20,685
Eliminated on disposal - (18,668 ) - (18,668 )
At 31 October 2023 17,584 61,031 342,291 420,906
NET BOOK VALUE
At 31 October 2023 - 34,051 53,712 87,763
At 31 October 2022 - 28,188 57,888 86,076

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2022 30,149
Additions 18,050
At 31 October 2023 48,199
DEPRECIATION
At 1 November 2022 7,537
Charge for year 10,166
At 31 October 2023 17,703
NET BOOK VALUE
At 31 October 2023 30,496
At 31 October 2022 22,612

6. STOCKS
2023 2022
£    £   
Consumables 505,566 473,241
Work in progress 1,000 1,000
506,566 474,241

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,280 96,808
Other debtors - 46,650
Prepayments 30,261 24,179
98,541 167,637

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bounceback loan 10,048 9,966
Hire purchase contracts (see note 10) 7,187 12,446
Trade creditors 333,754 283,773
Corporation tax 3,780 2,520
Social security and other taxes 45,756 33,394
Directors' current account 16,996 43,835
Other creditors 43,064 49,741
Accruals 37,363 29,854
497,948 465,529

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounceback loan 1-2 years 10,323 10,179
Bounceback loan 2-5 years 7,004 17,044
Hire purchase contracts (see note 10) 20,565 14,548
37,892 41,771

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 7,187 12,446
Between one and five years 20,565 14,548
27,752 26,994

FRENCH MARINE MOTORS LIMITED (REGISTERED NUMBER: 01455234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 26,271 43,255
Between one and five years 68,962 69,798
In more than five years 1,208 8,208
96,441 121,261

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 27,752 26,994

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £4,000) were paid to the directors .