IRIS Accounts Production v24.2.0.383 03219483 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032194832022-12-31032194832023-12-31032194832023-01-012023-12-31032194832021-12-31032194832022-01-012022-12-31032194832022-12-3103219483ns15:EnglandWales2023-01-012023-12-3103219483ns14:PoundSterling2023-01-012023-12-3103219483ns10:Director12023-01-012023-12-3103219483ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103219483ns10:SmallEntities2023-01-012023-12-3103219483ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103219483ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103219483ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103219483ns10:FullAccounts2023-01-012023-12-310321948312023-01-012023-12-3103219483ns10:Director22023-01-012023-12-3103219483ns10:RegisteredOffice2023-01-012023-12-3103219483ns5:CurrentFinancialInstruments2023-12-3103219483ns5:CurrentFinancialInstruments2022-12-3103219483ns5:ShareCapital2023-12-3103219483ns5:ShareCapital2022-12-3103219483ns5:RetainedEarningsAccumulatedLosses2023-12-3103219483ns5:RetainedEarningsAccumulatedLosses2022-12-3103219483ns5:NetGoodwill2023-01-012023-12-3103219483ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3103219483ns5:FurnitureFittings2023-01-012023-12-3103219483ns5:ComputerEquipment2023-01-012023-12-3103219483ns5:NetGoodwill2022-12-3103219483ns5:NetGoodwill2023-12-3103219483ns5:NetGoodwill2022-12-3103219483ns5:FurnitureFittings2022-12-3103219483ns5:ComputerEquipment2022-12-3103219483ns5:FurnitureFittings2023-12-3103219483ns5:ComputerEquipment2023-12-3103219483ns5:FurnitureFittings2022-12-3103219483ns5:ComputerEquipment2022-12-3103219483ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103219483ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 03219483 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Marine Communications Limited

Marine Communications Limited (Registered number: 03219483)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Marine Communications Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: P C Clements
E G Clements





REGISTERED OFFICE: 59 Bownham Park
Rodborough Common
Stroud
Gloucestershire
GL5 5BZ





REGISTERED NUMBER: 03219483 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Marine Communications Limited (Registered number: 03219483)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 974 2,738
974 2,738

CURRENT ASSETS
Stocks 41,749 50,215
Debtors 6 38,861 25,739
Cash at bank 10,802 74,798
91,412 150,752
CREDITORS
Amounts falling due within one year 7 21,415 55,425
NET CURRENT ASSETS 69,997 95,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,971

98,065

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 68,971 96,065
SHAREHOLDERS' FUNDS 70,971 98,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:



P C Clements - Director


Marine Communications Limited (Registered number: 03219483)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Marine Communications 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of six 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 - 25% on cost
Computer equipment - 50% 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Marine Communications Limited (Registered number: 03219483)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

3. EMPLOYEES AND DIRECTORS

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

Marine Communications Limited (Registered number: 03219483)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 300,000
AMORTISATION
At 1 January 2023
and 31 December 2023 300,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 37,372 11,011 48,383
DEPRECIATION
At 1 January 2023 36,057 9,588 45,645
Charge for year 717 1,047 1,764
At 31 December 2023 36,774 10,635 47,409
NET BOOK VALUE
At 31 December 2023 598 376 974
At 31 December 2022 1,315 1,423 2,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 32,162 20,315
Other debtors 6,699 5,424
38,861 25,739

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 2,842 23,381
Taxation and social security 11,665 15,589
Other creditors 6,908 16,455
21,415 55,425