Company Registration No. 09260348 (England and Wales)
Marine Accounts Ltd
Unaudited accounts
for the year ended 31 May 2024
Marine Accounts Ltd
Unaudited accounts
Contents
Marine Accounts Ltd
Company Information
for the year ended 31 May 2024
Company Number
09260348 (England and Wales)
Registered Office
101 Northwood Road
Whitstable
CT5 2HE
England
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Marine Accounts Ltd
Accountants' report
Accountants' report to the director of Marine Accounts Ltd on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Marine Accounts Ltd for the year ended
31 May 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Marine Accounts Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Marine Accounts Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marine Accounts Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Marine Accounts Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Marine Accounts Ltd. You consider that Marine Accounts Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Marine Accounts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
9 August 2024
Marine Accounts Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
28,364
33,213
Cash at bank and in hand
107,378
151,026
Creditors: amounts falling due within one year
(66,023)
(94,733)
Net current assets
42,055
56,993
Total assets less current liabilities
70,419
90,206
Creditors: amounts falling due after more than one year
(21,594)
(31,567)
Called up share capital
100
100
Profit and loss account
48,725
58,539
Shareholders' funds
48,825
58,639
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 August 2024 and were signed on its behalf by
Mr PW Maflin
Director
Company Registration No. 09260348
Marine Accounts Ltd
Notes to the Accounts
for the year ended 31 May 2024
Marine Accounts Ltd is a private company, limited by shares, registered in England and Wales, registration number 09260348. The registered office is 101 Northwood Road, Whitstable, CT5 2HE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
15% reducing balance
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
113,166
11,187
124,353
At 31 May 2024
113,166
14,171
127,337
At 1 June 2023
85,424
5,716
91,140
Charge for the year
6,935
898
7,833
At 31 May 2024
92,359
6,614
98,973
At 31 May 2024
20,807
7,557
28,364
At 31 May 2023
27,742
5,471
33,213
Amounts falling due within one year
Marine Accounts Ltd
Notes to the Accounts
for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
965
14,715
Taxes and social security
17,528
10,336
Other creditors
3,361
12,796
Loans from directors
-
19,646
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
(19,645)
(51,497)
(71,142)
-
(19,645)
(51,497)
(71,142)
-
10
Average number of employees
During the year the average number of employees was 7 (2023: 5).