Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity22truetruefalse 08819338 2023-01-01 2023-12-31 08819338 2022-01-01 2022-12-31 08819338 2023-12-31 08819338 2022-12-31 08819338 c:Director1 2023-01-01 2023-12-31 08819338 d:MotorVehicles 2023-01-01 2023-12-31 08819338 d:MotorVehicles 2023-12-31 08819338 d:MotorVehicles 2022-12-31 08819338 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08819338 d:FurnitureFittings 2023-01-01 2023-12-31 08819338 d:FurnitureFittings 2023-12-31 08819338 d:FurnitureFittings 2022-12-31 08819338 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08819338 d:ComputerEquipment 2023-01-01 2023-12-31 08819338 d:ComputerEquipment 2023-12-31 08819338 d:ComputerEquipment 2022-12-31 08819338 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08819338 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08819338 d:CurrentFinancialInstruments 2023-12-31 08819338 d:CurrentFinancialInstruments 2022-12-31 08819338 d:Non-currentFinancialInstruments 2023-12-31 08819338 d:Non-currentFinancialInstruments 2022-12-31 08819338 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08819338 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08819338 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08819338 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08819338 d:ShareCapital 2023-12-31 08819338 d:ShareCapital 2022-12-31 08819338 d:RetainedEarningsAccumulatedLosses 2023-12-31 08819338 d:RetainedEarningsAccumulatedLosses 2022-12-31 08819338 c:FRS102 2023-01-01 2023-12-31 08819338 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08819338 c:FullAccounts 2023-01-01 2023-12-31 08819338 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08819338 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 08819338 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 08819338 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 08819338 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 08819338 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 08819338







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


TK MARINE LIMITED






































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TK MARINE LIMITED
REGISTERED NUMBER:08819338



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,781
26,773

  
28,781
26,773

Current assets
  

Stocks
  
67,382
57,951

Debtors: amounts falling due within one year
 5 
12,012
15,513

Cash at bank and in hand
  
4,850
7,158

  
84,244
80,622

Creditors: amounts falling due within one year
 6 
(58,288)
(34,973)

Net current assets
  
 
 
25,956
 
 
45,649

Total assets less current liabilities
  
54,737
72,422

Creditors: amounts falling due after more than one year
  
(23,136)
(34,033)

Provisions for liabilities
  

Other provisions
  
(7,195)
(5,087)

  
 
 
(7,195)
 
 
(5,087)

Net assets
  
24,406
33,302


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
24,306
33,202

  
24,406
33,302


Page 1

 


TK MARINE LIMITED
REGISTERED NUMBER:08819338


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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.

The Company has opted not to file the statement of income and retained earnings 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 by: 




................................................
T D Kiff
Director

Date: 27 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


TK MARINE LIMITED
 


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

1.


General information

TK Marine Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page. 
The presentation currency of the financial statements is the Pound Sterling (£).

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.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


TK MARINE LIMITED
 


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

2.Accounting policies (continued)

 
2.3

Taxation

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 reporting 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 reporting 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 reporting date.

 
2.4

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:

Motor vehicles
-
25%
Fixtures and fittings
-
20%
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.

 
2.5

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 reporting 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.

Page 4

 


TK MARINE LIMITED
 


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

2.Accounting policies (continued)

 
2.6

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
27,020
-
1,582
28,602


Additions
29,995
983
-
30,978


Disposals
(27,020)
-
-
(27,020)



At 31 December 2023

29,995
983
1,582
32,560



Depreciation


At 1 January 2023
1,126
-
703
1,829


Charge for the year on owned assets
6,815
49
527
7,391


Disposals
(5,441)
-
-
(5,441)



At 31 December 2023

2,500
49
1,230
3,779



Net book value



At 31 December 2023
27,495
934
352
28,781



At 31 December 2022
25,894
-
879
26,773

Page 5

 


TK MARINE LIMITED
 


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

5.


Debtors

2023
2022
£
£


Trade debtors
480
254

Other debtors
-
1,459

Prepayments and accrued income
11,532
13,800

12,012
15,513



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,000
9,000

Trade creditors
8,117
1,647

Corporation tax
23,108
15,622

Other taxation and social security
6,009
-

Obligations under finance lease and hire purchase contracts
5,665
6,141

Other creditors
4,889
988

Accruals and deferred income
1,500
1,575

58,288
34,973


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
5,665
6,141

5,665
6,141

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.

Page 6

 


TK MARINE LIMITED
 


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

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
12,750
21,750

Obligations under finance lease and hire purchase contracts
10,386
12,283

23,136
34,033


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
10,386
12,283

10,386
12,283

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
5,665
6,141

Between 1 and 5 years
10,386
12,283

16,051
18,424


9.


Related party transactions

At the balance sheet date the company owed £4,889 (2022: £988) to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.

 
Page 7