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REGISTERED NUMBER: 05469599 (England and Wales)















SULLY MARINE CENTRE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






SULLY MARINE CENTRE LIMITED (REGISTERED NUMBER: 05469599)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SULLY MARINE CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: D Knight
M M Knight





REGISTERED OFFICE: 57
South Road
Sully
Penarth
Vale of Glamorgan
CF64 5SL





REGISTERED NUMBER: 05469599 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

SULLY MARINE CENTRE LIMITED (REGISTERED NUMBER: 05469599)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 6,000
Tangible assets 5 2 2
3,002 6,002

CURRENT ASSETS
Stocks 250 250
Debtors 6 9,077 8,012
9,327 8,262
CREDITORS
Amounts falling due within one year 7 12,312 14,190
NET CURRENT LIABILITIES (2,985 ) (5,928 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17 74

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (83 ) (26 )
SHAREHOLDERS' FUNDS 17 74

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th September 2024 and were signed on its behalf by:





D Knight - Director


SULLY MARINE CENTRE LIMITED (REGISTERED NUMBER: 05469599)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Sully Marine Centre 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.

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 is amortised on a straight line basis 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.
Fixtures and fittings - 50% on reducing balance

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 Statement of Income and Retained Earnings, 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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SULLY MARINE CENTRE LIMITED (REGISTERED NUMBER: 05469599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 60,000
AMORTISATION
At 1st July 2023 54,000
Amortisation for year 3,000
At 30th June 2024 57,000
NET BOOK VALUE
At 30th June 2024 3,000
At 30th June 2023 6,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st July 2023
and 30th June 2024 2,294
DEPRECIATION
At 1st July 2023
and 30th June 2024 2,292
NET BOOK VALUE
At 30th June 2024 2
At 30th June 2023 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,077 8,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,996 4,530
Trade creditors 2,000 2,000
Taxation and social security 4,866 6,210
Other creditors 1,450 1,450
12,312 14,190

SULLY MARINE CENTRE LIMITED (REGISTERED NUMBER: 05469599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100