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REGISTERED NUMBER: 08569573 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

INTERMARINE ENTERPRISES LIMITED

INTERMARINE ENTERPRISES LIMITED (REGISTERED NUMBER: 08569573)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTERMARINE ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr S A Gaherty
Mrs B J Gaherty





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD





BUSINESS ADDRESS: Unit 39
Romsey Industrial Estate
Greatbridge Road
Romsey
Hampshire
SO51 0HR





REGISTERED NUMBER: 08569573 (England and Wales)






INTERMARINE ENTERPRISES LIMITED (REGISTERED NUMBER: 08569573)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,651 23,534
Investments 6 196,630 196,630
214,281 220,164

CURRENT ASSETS
Debtors 7 365,960 98,779
Cash at bank 98,795 16,471
464,755 115,250
CREDITORS
Amounts falling due within one year 8 185,289 203,049
NET CURRENT ASSETS/(LIABILITIES) 279,466 (87,799 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,747

132,365

PROVISIONS FOR LIABILITIES 4,412 4,471
NET ASSETS 489,335 127,894

CAPITAL AND RESERVES
Called up share capital 10 61 61
Share premium 24,994 24,994
Retained earnings 464,280 102,839
SHAREHOLDERS' FUNDS 489,335 127,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

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 Board of Directors and authorised for issue on 16th September 2024 and were signed on its behalf by:





Mr S A Gaherty - Director


INTERMARINE ENTERPRISES LIMITED (REGISTERED NUMBER: 08569573)

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


1. STATUTORY INFORMATION

Intermarine Enterprises 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Intermarine Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

INTERMARINE ENTERPRISES LIMITED (REGISTERED NUMBER: 08569573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st January 2023
and 31st December 2023 28,995
DEPRECIATION
At 1st January 2023 5,461
Charge for year 5,883
At 31st December 2023 11,344
NET BOOK VALUE
At 31st December 2023 17,651
At 31st December 2022 23,534

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 196,630
NET BOOK VALUE
At 31st December 2023 196,630
At 31st December 2022 196,630

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 365,960 98,779

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 36,853 25,222
Other creditors 148,436 177,827
185,289 203,049

INTERMARINE ENTERPRISES LIMITED (REGISTERED NUMBER: 08569573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans - 50,000

Other loans are secured by way of a Debenture.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
56 Ordinary A £1 56 56
50 Ordinary B £0.10 5 5
61 61

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
Mr S A Gaherty and Mrs B J Gaherty
Balance outstanding at start of year - -
Amounts advanced - 53,150
Amounts repaid - (53,150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan in the year ended 31st December 2022 was unsecured with interest charged at HMRC approved rates and was repaid prior to the year end.