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REGISTERED NUMBER: 11401249 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Marine-Trim Ltd

Marine-Trim Ltd (Registered number: 11401249)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Marine-Trim Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P D Smith
Mrs J L Smith





REGISTERED OFFICE: Unit 5 Stanley Business Park
Prospect Road
Burntwood
Staffordshire
WS7 0AF





REGISTERED NUMBER: 11401249 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Marine-Trim Ltd (Registered number: 11401249)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 20,000 25,000
Tangible assets 5 11,563 20,062
31,563 45,062

CURRENT ASSETS
Stocks 900 1,200
Debtors 6 16,894 19,797
Cash at bank 10,646 14,547
28,440 35,544
CREDITORS
Amounts falling due within one year 7 (43,119 ) (55,217 )
NET CURRENT LIABILITIES (14,679 ) (19,673 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,884

25,389

CREDITORS
Amounts falling due after more than one
year

8

(13,326

)

(23,445

)
NET ASSETS 3,558 1,944

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 3,556 1,942
SHAREHOLDERS' FUNDS 3,558 1,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Marine-Trim Ltd (Registered number: 11401249)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




Mrs J L Smith - Director



P D Smith - Director


Marine-Trim Ltd (Registered number: 11401249)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Marine-Trim Ltd 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Marine-Trim Ltd (Registered number: 11401249)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023 25,000
Amortisation for year 5,000
At 30 June 2024 30,000
NET BOOK VALUE
At 30 June 2024 20,000
At 30 June 2023 25,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 16,179 36,374 2,656 55,209
Disposals - (10,250 ) - (10,250 )
At 30 June 2024 16,179 26,124 2,656 44,959
DEPRECIATION
At 1 July 2023 15,684 17,447 2,016 35,147
Charge for year 208 4,556 384 5,148
Eliminated on disposal - (6,899 ) - (6,899 )
At 30 June 2024 15,892 15,104 2,400 33,396
NET BOOK VALUE
At 30 June 2024 287 11,020 256 11,563
At 30 June 2023 495 18,927 640 20,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,894 19,797

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,126 7,907
Trade creditors 16,301 11,355
Taxation and social security 14,922 7,128
Other creditors 2,770 28,827
43,119 55,217

Marine-Trim Ltd (Registered number: 11401249)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,326 23,445

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Marine-Trim Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marine-Trim Ltd for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marine-Trim Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marine-Trim Ltd and state those matters that we have agreed to state to the Board of Directors of Marine-Trim Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marine-Trim Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marine-Trim Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marine-Trim Ltd. You consider that Marine-Trim 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 financial statements of Marine-Trim 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 financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


22 August 2024