7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,696 6,696 6,696 xbrli:pure xbrli:shares iso4217:GBP 06993652 2023-05-01 2024-04-30 06993652 2024-04-30 06993652 2023-04-30 06993652 2022-05-01 2023-04-30 06993652 2023-04-30 06993652 2022-04-30 06993652 core:PlantMachinery 2023-05-01 2024-04-30 06993652 core:FurnitureFittings 2023-05-01 2024-04-30 06993652 core:MotorVehicles 2023-05-01 2024-04-30 06993652 bus:Director1 2023-05-01 2024-04-30 06993652 core:LandBuildings 2023-04-30 06993652 core:PlantMachinery 2023-04-30 06993652 core:FurnitureFittings 2023-04-30 06993652 core:MotorVehicles 2023-04-30 06993652 core:LandBuildings 2024-04-30 06993652 core:PlantMachinery 2024-04-30 06993652 core:FurnitureFittings 2024-04-30 06993652 core:MotorVehicles 2024-04-30 06993652 core:LandBuildings 2023-05-01 2024-04-30 06993652 core:WithinOneYear 2024-04-30 06993652 core:WithinOneYear 2023-04-30 06993652 core:ShareCapital 2024-04-30 06993652 core:ShareCapital 2023-04-30 06993652 core:RetainedEarningsAccumulatedLosses 2024-04-30 06993652 core:RetainedEarningsAccumulatedLosses 2023-04-30 06993652 core:BetweenOneFiveYears 2023-04-30 06993652 core:LandBuildings 2023-04-30 06993652 core:PlantMachinery 2023-04-30 06993652 core:FurnitureFittings 2023-04-30 06993652 core:MotorVehicles 2023-04-30 06993652 bus:Director1 2023-04-30 06993652 bus:Director1 2024-04-30 06993652 bus:Director1 2022-04-30 06993652 bus:Director1 2023-04-30 06993652 bus:Director1 2022-05-01 2023-04-30 06993652 bus:SmallEntities 2023-05-01 2024-04-30 06993652 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06993652 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06993652 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06993652 bus:FullAccounts 2023-05-01 2024-04-30 06993652 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06993652 core:OtherResidualIntangibleAssets 2024-04-30 06993652 core:OtherResidualIntangibleAssets 2023-04-30
COMPANY REGISTRATION NUMBER: 06993652
MARINER'S AUTO TECHNICIAN SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
MARINER'S AUTO TECHNICIAN SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Intangible assets
5
6,696
6,696
Tangible assets
6
363,617
282,563
----------
----------
370,313
289,259
Current Assets
Stocks
320,135
268,393
Debtors
7
14,621
15,584
Cash at bank and in hand
291,830
308,189
----------
----------
626,586
592,166
Creditors: amounts falling due within one year
8
92,619
65,136
----------
----------
Net Current Assets
533,967
527,030
----------
----------
Total Assets Less Current Liabilities
904,280
816,289
----------
----------
Net Assets
904,280
816,289
----------
----------
MARINER'S AUTO TECHNICIAN SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
1
1
Profit and loss account
904,279
816,288
----------
----------
Shareholders Funds
904,280
816,289
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 July 2024 , and are signed on behalf of the board by:
M D Seaman
Director
Company registration number: 06993652
MARINER'S AUTO TECHNICIAN SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mariners Street, Goole, North Humberside, DN14 5BS.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible Assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
Impairment review
Plant and Machinery
-
20% reducing balance
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Investment Property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Intangible Assets
Other intangibles
£
Cost
At 1 May 2023 and 30 April 2024
6,696
-------
Amortisation
At 1 May 2023 and 30 April 2024
-------
Carrying amount
At 30 April 2024
6,696
-------
At 30 April 2023
6,696
-------
6. Tangible Assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
261,550
69,464
7,398
34,595
373,007
Additions
89,083
89,083
----------
---------
-------
---------
----------
At 30 April 2024
350,633
69,464
7,398
34,595
462,090
----------
---------
-------
---------
----------
Depreciation
At 1 May 2023
15,243
48,723
1,903
24,575
90,444
Charge for the year
4,150
1,374
2,505
8,029
----------
---------
-------
---------
----------
At 30 April 2024
15,243
52,873
3,277
27,080
98,473
----------
---------
-------
---------
----------
Carrying amount
At 30 April 2024
335,390
16,591
4,121
7,515
363,617
----------
---------
-------
---------
----------
At 30 April 2023
246,307
20,741
5,495
10,020
282,563
----------
---------
-------
---------
----------
Included within the above is investment property as follows:
£
At 1 May 2023
74,995
Additions
89,083
----------
At 30 April 2024
164,078
----------
The director considers that the current value of investment property is not significantly different from cost price.
7. Debtors
2024
2023
£
£
Trade debtors
2,626
2,896
Other debtors
11,995
12,688
---------
---------
14,621
15,584
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,008
14,395
Social security and other taxes
59,566
48,776
Other creditors
9,045
1,965
---------
---------
92,619
65,136
---------
---------
9. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
708
8,500
Later than 1 year and not later than 5 years
708
----
-------
708
9,208
----
-------
10. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M D Seaman
3,518
2,898
( 3,518)
2,898
-------
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M D Seaman
5,409
3,518
( 5,409)
3,518
-------
-------
-------
-------
The loans are repayable on demand and subject to interest at the official rate.