Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30true2022-12-01falseThe principal activity of the company in the year under review was that of retail sales via mail order houses56trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05152483 2022-12-01 2023-11-30 05152483 2021-12-01 2022-11-30 05152483 2023-11-30 05152483 2022-11-30 05152483 c:Director1 2022-12-01 2023-11-30 05152483 d:PlantMachinery 2022-12-01 2023-11-30 05152483 d:PlantMachinery 2023-11-30 05152483 d:PlantMachinery 2022-11-30 05152483 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05152483 d:MotorVehicles 2022-12-01 2023-11-30 05152483 d:MotorVehicles 2023-11-30 05152483 d:MotorVehicles 2022-11-30 05152483 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05152483 d:ComputerEquipment 2022-12-01 2023-11-30 05152483 d:ComputerEquipment 2023-11-30 05152483 d:ComputerEquipment 2022-11-30 05152483 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05152483 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05152483 d:CurrentFinancialInstruments 2023-11-30 05152483 d:CurrentFinancialInstruments 2022-11-30 05152483 d:Non-currentFinancialInstruments 2023-11-30 05152483 d:Non-currentFinancialInstruments 2022-11-30 05152483 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05152483 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 05152483 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 05152483 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 05152483 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 05152483 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 05152483 d:ShareCapital 2023-11-30 05152483 d:ShareCapital 2022-11-30 05152483 d:RetainedEarningsAccumulatedLosses 2023-11-30 05152483 d:RetainedEarningsAccumulatedLosses 2022-11-30 05152483 c:FRS102 2022-12-01 2023-11-30 05152483 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05152483 c:FullAccounts 2022-12-01 2023-11-30 05152483 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05152483 6 2022-12-01 2023-11-30 05152483 1 2023-11-30 05152483 1 2022-11-30 05152483 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 05152483










THE MARINE WAREHOUSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
THE MARINE WAREHOUSE LIMITED
REGISTERED NUMBER: 05152483

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
137,688
136,005

Investments
 5 
-
24,301

  
137,688
160,306

Current assets
  

Stocks
  
86,589
82,304

Debtors: amounts falling due within one year
 6 
21,588
18,654

Cash at bank and in hand
  
54,655
88,045

  
162,832
189,003

Creditors: amounts falling due within one year
 7 
(125,122)
(127,151)

Net current assets
  
 
 
37,710
 
 
61,852

Total assets less current liabilities
  
175,398
222,158

Creditors: amounts falling due after more than one year
 8 
(15,000)
(25,000)

Provisions for liabilities
  

Deferred tax
  
(29,589)
(13,760)

  
 
 
(29,589)
 
 
(13,760)

Net assets
  
130,809
183,398


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
130,709
183,298

  
130,809
183,398


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
THE MARINE WAREHOUSE LIMITED
REGISTERED NUMBER: 05152483
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023


The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.




Richard Alan Harvey
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The Marine Warehouse Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05152483 and the registered office address is Unit 2 Fishmarket Quay, Swansea Marina, Swansea, SA1 1UP.

The presentation currency of the financial statements is the Pound Sterling (£) and has been rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

  
2.2

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Page 3

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Going concern

The company has made a profit in the year ended 30 November 2023 and has both net current assets and net assets at the balance sheet date.
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its financial obligations as they fall due. Accordingly, the director continues to adopt the going concern basis in preparing the annual report and accounts.

  
2.4

Turnover and revenue recognition

Turnover represents amounts derived from the provision of retail sales in the United Kingdom, excluding VAT and trade discounts. Revenue is recognised at the point of sale.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.9

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Page 5

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
109,789
121,974

Social security costs
4,119
5,534

Cost of defined contribution scheme
35,972
2,426

149,880
129,934


The average monthly number of employees, including directors, during the year was 5 (2022 - 6).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
164,944
28,587
12,098
205,629


Additions
81,635
-
-
81,635


Disposals
(34,846)
-
-
(34,846)



At 30 November 2023

211,733
28,587
12,098
252,418



Depreciation


At 1 December 2022
47,766
11,346
10,512
69,624


Charge for the year on owned assets
53,246
5,747
778
59,771


Disposals
(14,665)
-
-
(14,665)



At 30 November 2023

86,347
17,093
11,290
114,730



Net book value



At 30 November 2023
125,386
11,494
808
137,688



At 30 November 2022
117,178
17,241
1,586
136,005

Page 6

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Listed investments

£





At 1 December 2022
24,301


Disposals
(24,301)



At 30 November 2023
-






Net book value



At 30 November 2023
-



At 30 November 2022
24,301


6.


Debtors

2023
2022
£
£


Trade debtors
10,887
14,527

Other debtors
10,004
4

Prepayments and accrued income
697
614

Tax recoverable
-
3,509

21,588
18,654



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
54,829
9,984

Other taxation and social security
15,603
8,631

Other creditors
41,432
95,428

Accruals and deferred income
3,258
3,108

125,122
127,151


Page 7

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,000
25,000

15,000
25,000



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
15,000
25,000


15,000
25,000


25,000
35,000


 
Page 8