Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 02252850 Mr Edward Lilley Mr Barry Curtis Mr Edward Lilley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02252850 2023-05-31 02252850 2024-05-31 02252850 2023-06-01 2024-05-31 02252850 frs-core:CurrentFinancialInstruments 2024-05-31 02252850 frs-core:ComputerEquipment 2024-05-31 02252850 frs-core:ComputerEquipment 2023-06-01 2024-05-31 02252850 frs-core:ComputerEquipment 2023-05-31 02252850 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 02252850 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02252850 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 02252850 frs-core:PlantMachinery 2024-05-31 02252850 frs-core:PlantMachinery 2023-06-01 2024-05-31 02252850 frs-core:PlantMachinery 2023-05-31 02252850 frs-core:ShareCapital 2024-05-31 02252850 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 02252850 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02252850 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 02252850 frs-bus:SmallEntities 2023-06-01 2024-05-31 02252850 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02252850 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 02252850 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-01 2024-05-31 02252850 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 02252850 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 02252850 frs-core:ListedExchangeTraded 2024-05-31 02252850 frs-core:ListedExchangeTraded 2023-05-31 02252850 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 02252850 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-05-31 02252850 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 02252850 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 02252850 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 02252850 frs-bus:Director1 2023-06-01 2024-05-31 02252850 frs-bus:Director2 2023-06-01 2024-05-31 02252850 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 02252850 frs-core:CurrentFinancialInstruments 1 2024-05-31 02252850 frs-core:CurrentFinancialInstruments 2 2024-05-31 02252850 frs-core:CurrentFinancialInstruments 3 2024-05-31 02252850 frs-countries:EnglandWales 2023-06-01 2024-05-31 02252850 2022-05-31 02252850 2023-05-31 02252850 2022-06-01 2023-05-31 02252850 frs-core:CurrentFinancialInstruments 2023-05-31 02252850 frs-core:ShareCapital 2023-05-31 02252850 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 02252850 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 02252850 frs-core:CurrentFinancialInstruments 1 2023-05-31 02252850 frs-core:CurrentFinancialInstruments 2 2023-05-31 02252850 frs-core:CurrentFinancialInstruments 3 2023-05-31
Registered number: 02252850
Automarine Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Advoco (SW) Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02252850
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 411,070 390,317
Investment Properties 5 1,210,000 1,210,000
Investments 6 110,883 94,651
1,731,953 1,694,968
CURRENT ASSETS
Debtors 7 297,101 318,500
Cash at bank and in hand 887,642 878,132
1,184,743 1,196,632
Creditors: Amounts Falling Due Within One Year 8 (121,048 ) (201,205 )
NET CURRENT ASSETS (LIABILITIES) 1,063,695 995,427
TOTAL ASSETS LESS CURRENT LIABILITIES 2,795,648 2,690,395
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,132 ) (1,150 )
NET ASSETS 2,794,516 2,689,245
CAPITAL AND RESERVES
Called up share capital 9 1,027,129 1,027,129
Fair Value Reserve 10 152,923 152,923
Profit and Loss Account 1,614,464 1,509,193
SHAREHOLDERS' FUNDS 2,794,516 2,689,245
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Barry Curtis
Director
19 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Automarine Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02252850 . The registered office is Leanne House, 6 Avon Close, Weymouth, Dorset, DT4 9UX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold As per the property
Plant & Machinery 15% reducing balance
Computer Equipment 10% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 384,989 44,459 64,876 494,324
Additions - 21,785 - 21,785
As at 31 May 2024 384,989 66,244 64,876 516,109
Depreciation
As at 1 June 2023 - 42,392 61,615 104,007
Provided during the period - 542 490 1,032
As at 31 May 2024 - 42,934 62,105 105,039
Net Book Value
As at 31 May 2024 384,989 23,310 2,771 411,070
As at 1 June 2023 384,989 2,067 3,261 390,317
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,210,000
6. Investments
Listed
£
Cost
As at 1 June 2023 94,651
Revaluations 16,232
As at 31 May 2024 110,883
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 110,883
As at 1 June 2023 94,651
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 18,164 13,169
Other debtors - 785
Phoenix Loan 263,200 280,000
Nelson Wharf 14,399 24,546
Drakidge 1,338 -
297,101 318,500
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 (1 )
Corporation tax liability 32,760 29,222
VAT 1,291 3,952
Other creditors - Discretionary Trust 19,055 19,055
Accrued expenses 53,081 48,436
Directors' loan accounts 14,860 100,541
121,048 201,205
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,027,129 1,027,129
10. Reserves
Fair Value Reserve
£
As at 1 June 2023 152,923
Movements in fair value reserve 16,232
Transfer to profit and loss (16,232 )
As at 31 May 2024 152,923
Page 5