IRIS Accounts Production v24.1.9.2 09271305 director 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092713052022-10-31092713052023-10-31092713052022-11-012023-10-31092713052021-10-31092713052021-11-012022-10-31092713052022-10-3109271305ns15:EnglandWales2022-11-012023-10-3109271305ns14:PoundSterling2022-11-012023-10-3109271305ns10:Director12022-11-012023-10-3109271305ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3109271305ns10:SmallEntities2022-11-012023-10-3109271305ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3109271305ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3109271305ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3109271305ns10:FullAccounts2022-11-012023-10-3109271305ns10:OrdinaryShareClass12022-11-012023-10-3109271305ns5:CurrentFinancialInstruments2023-10-3109271305ns5:CurrentFinancialInstruments2022-10-3109271305ns5:RetainedEarningsAccumulatedLosses2023-10-3109271305ns5:RetainedEarningsAccumulatedLosses2022-10-3109271305ns5:PlantMachinery2022-11-012023-10-3109271305ns5:FurnitureFittings2022-11-012023-10-3109271305ns5:ComputerEquipment2022-11-012023-10-3109271305ns5:PlantMachinery2022-10-3109271305ns5:FurnitureFittings2022-10-3109271305ns5:ComputerEquipment2022-10-3109271305ns5:PlantMachinery2023-10-3109271305ns5:FurnitureFittings2023-10-3109271305ns5:ComputerEquipment2023-10-3109271305ns5:PlantMachinery2022-10-3109271305ns5:FurnitureFittings2022-10-3109271305ns5:ComputerEquipment2022-10-3109271305ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3109271305ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3109271305ns5:DeferredTaxation2022-10-3109271305ns5:DeferredTaxation2022-11-012023-10-3109271305ns5:DeferredTaxation2023-10-3109271305ns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: 09271305 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MARINE RESOURCES LIMITED

MARINE RESOURCES LIMITED (REGISTERED NUMBER: 09271305)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Balance sheet 1

Notes to the financial statements 2


MARINE RESOURCES LIMITED (REGISTERED NUMBER: 09271305)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,762 5,014

Current assets
Stocks - 4,556
Debtors 5 12,079 7,947
Cash at bank 80,265 81,846
92,344 94,349
Creditors
Amounts falling due within one year 6 24,208 44,075
Net current assets 68,136 50,274
Total assets less current liabilities 71,898 55,288

Provisions for liabilities 7 715 953
Net assets 71,183 54,335

Reserves
Retained earnings 71,183 54,335
Shareholders' funds 71,183 54,335

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 director acknowledges her 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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





Mrs C Abbott - Director


MARINE RESOURCES LIMITED (REGISTERED NUMBER: 09271305)

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


1. Statutory information

Marine Resources Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09271305. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 149 Lake Road, Hamworthy, Poole, Dorset, BH15 4LQ.

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 amounts receivable for the sale of products and services, excluding value added tax, and is recognised as soon as the product or service has been provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

MARINE RESOURCES LIMITED (REGISTERED NUMBER: 09271305)

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


4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 November 2022
and 31 October 2023 3,382 975 4,873 9,230
Depreciation
At 1 November 2022 2,121 564 1,531 4,216
Charge for year 315 102 835 1,252
At 31 October 2023 2,436 666 2,366 5,468
Net book value
At 31 October 2023 946 309 2,507 3,762
At 31 October 2022 1,261 411 3,342 5,014

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 7,836 5,606
VAT 4,243 2,341
12,079 7,947

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 266 1,627
Tax 4,825 6,777
Other creditors 9,183 10,568
Director's current account 8,358 21,313
Accruals and deferred income 1,576 3,790
24,208 44,075

7. Provisions for liabilities
2023 2022
£    £   
Deferred tax 715 953

Deferred
tax
£   
Balance at 1 November 2022 953
Provided during year (238 )
Balance at 31 October 2023 715

MARINE RESOURCES LIMITED (REGISTERED NUMBER: 09271305)

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


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £0.10 - -

9. Ultimate controlling party

The company is controlled by the director, Mrs C Abbott, who owns 100% of the issued share capital.