GPS Marine Equipment Limited 09886530 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the ownership and hire of inland waterway barges. Digita Accounts Production Advanced 6.30.9574.0 true true 09886530 2023-01-01 2023-12-31 09886530 2023-12-31 09886530 core:CurrentFinancialInstruments 2023-12-31 09886530 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09886530 bus:SmallEntities 2023-01-01 2023-12-31 09886530 bus:Audited 2023-01-01 2023-12-31 09886530 bus:FilletedAccounts 2023-01-01 2023-12-31 09886530 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09886530 bus:RegisteredOffice 2023-01-01 2023-12-31 09886530 bus:Director1 2023-01-01 2023-12-31 09886530 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09886530 countries:EnglandWales 2023-01-01 2023-12-31 09886530 2022-01-01 2022-12-31 09886530 2022-12-31 09886530 core:CurrentFinancialInstruments 2022-12-31 09886530 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 09886530

GPS Marine Equipment Limited

Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants & Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

GPS Marine Equipment Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

1,025

1,025

Cash at bank and in hand

 

579

579

 

1,604

1,604

Creditors: Amounts falling due within one year

6

(834,129)

(834,129)

Net liabilities

 

(832,525)

(832,525)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(832,625)

(832,625)

Shareholders' deficit

 

(832,525)

(832,525)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................

Mr J B Spencer

Director

Company registration number: 09886530

 

GPS Marine Equipment Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
GPS Marine House
Upnor Road
Lower Upnor
Rochester
Kent
ME2 4UY

The principal activity of the company is that of the ownership and hire of inland waterway barges.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 September 2024 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net liabilities at 31 December 2023 of £832,625. At this date an amount of £834,129 was due to the parent undertaking who has agreed to not call for repayment until such time as the company has sufficient working capital and has agreed to continue to support the company as required.

On the basis of the above and after making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

GPS Marine Equipment Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

5

Debtors

2023
£

2022
£

Other debtors

1,025

1,025

1,025

1,025

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

 

-

1

Amounts owed to group undertakings

7

834,129

834,128

 

834,129

834,129

7

Related party transactions

Exemption has been taken under FRS 102 paragraph 33.1A not to disclose transactions or amounts fully due with companies that are wholly owned within the group.

8

Parent undertaking

The company is a subsidiary of G.P.S Marine Holdings Limited. The smallest group preparing group accounts including the results of the company is headed by G.P.S Marine Holdings Limited. The registered office of G.P.S Marine Holdings Limited is GPS Marine House, Upnor Road, Lower Upnor, Rochester, Kent ME2 4UY.