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REGISTERED NUMBER: 09610934 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 May 2024

for

Admiralty Ship Models Ltd

Admiralty Ship Models Ltd (Registered number: 09610934)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Admiralty Ship Models Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr J P A Nombro





REGISTERED OFFICE: 7 Kings Drive
Stoke Gifford
Bristol
South Glos
BS34 8RD





REGISTERED NUMBER: 09610934 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Admiralty Ship Models Ltd (Registered number: 09610934)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,179 1,456

CURRENT ASSETS
Stocks 10,164 9,253
Debtors 5 22 6,424
Cash at bank 5,457 762
15,643 16,439
CREDITORS
Amounts falling due within one year 6 (1,961 ) (1,278 )
NET CURRENT ASSETS 13,682 15,161
TOTAL ASSETS LESS CURRENT LIABILITIES 15,861 16,617

PROVISIONS FOR LIABILITIES (446 ) (277 )
NET ASSETS 15,415 16,340

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 15,414 16,339
SHAREHOLDERS' FUNDS 15,415 16,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





Mr J P A Nombro - Director


Admiralty Ship Models Ltd (Registered number: 09610934)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Admiralty Ship Models 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.

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.

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 reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% 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 Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

Admiralty Ship Models Ltd (Registered number: 09610934)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 250 949 9,714 10,913
Additions - - 2,222 2,222
At 31 May 2024 250 949 11,936 13,135
DEPRECIATION
At 1 June 2023 112 650 8,695 9,457
Charge for year 35 75 1,389 1,499
At 31 May 2024 147 725 10,084 10,956
NET BOOK VALUE
At 31 May 2024 103 224 1,852 2,179
At 31 May 2023 138 299 1,019 1,456

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Directors' current accounts - 3,617
Tax - 2,807
VAT 22 -
22 6,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 800 -
Tax 298 -
VAT - 454
Accruals and deferred income 863 824
1,961 1,278

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary A £1 1 1

Admiralty Ship Models Ltd (Registered number: 09610934)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. RESERVES
Retained
earnings
£   

At 1 June 2023 16,339
Profit for the year 1,824
Dividends (2,749 )
At 31 May 2024 15,414