Silverfin false false 30/04/2024 01/05/2023 30/04/2024 D Jenkins 11/02/2011 R M Jenkins 25 September 2024 The principal activity of the Company during the financial year was vessel charter, marine civil engineering, towing and dredging. 02256465 2024-04-30 02256465 bus:Director1 2024-04-30 02256465 2023-04-30 02256465 core:CurrentFinancialInstruments 2024-04-30 02256465 core:CurrentFinancialInstruments 2023-04-30 02256465 core:Non-currentFinancialInstruments 2024-04-30 02256465 core:Non-currentFinancialInstruments 2023-04-30 02256465 core:ShareCapital 2024-04-30 02256465 core:ShareCapital 2023-04-30 02256465 core:RetainedEarningsAccumulatedLosses 2024-04-30 02256465 core:RetainedEarningsAccumulatedLosses 2023-04-30 02256465 core:LandBuildings 2023-04-30 02256465 core:PlantMachinery 2023-04-30 02256465 core:Vehicles 2023-04-30 02256465 core:FurnitureFittings 2023-04-30 02256465 core:OfficeEquipment 2023-04-30 02256465 core:OtherPropertyPlantEquipment 2023-04-30 02256465 core:LandBuildings 2024-04-30 02256465 core:PlantMachinery 2024-04-30 02256465 core:Vehicles 2024-04-30 02256465 core:FurnitureFittings 2024-04-30 02256465 core:OfficeEquipment 2024-04-30 02256465 core:OtherPropertyPlantEquipment 2024-04-30 02256465 core:ImmediateParent core:CurrentFinancialInstruments 2024-04-30 02256465 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 02256465 2023-05-01 2024-04-30 02256465 bus:FilletedAccounts 2023-05-01 2024-04-30 02256465 bus:SmallEntities 2023-05-01 2024-04-30 02256465 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02256465 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02256465 bus:Director1 2023-05-01 2024-04-30 02256465 bus:Director2 2023-05-01 2024-04-30 02256465 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 02256465 core:PlantMachinery 2023-05-01 2024-04-30 02256465 core:Vehicles 2023-05-01 2024-04-30 02256465 core:FurnitureFittings 2023-05-01 2024-04-30 02256465 core:OfficeEquipment 2023-05-01 2024-04-30 02256465 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02256465 2022-05-01 2023-04-30 02256465 core:LandBuildings 2023-05-01 2024-04-30 02256465 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 02256465 (England and Wales)

JENKINS MARINE LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

JENKINS MARINE LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

JENKINS MARINE LTD

BALANCE SHEET

As at 30 April 2024
JENKINS MARINE LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,793,640 3,331,099
4,793,640 3,331,099
Current assets
Stocks 4 25,000 25,000
Debtors 5 759,279 769,005
Cash at bank and in hand 148,155 679,073
932,434 1,473,078
Creditors: amounts falling due within one year 6 ( 821,784) ( 714,798)
Net current assets 110,650 758,280
Total assets less current liabilities 4,904,290 4,089,379
Creditors: amounts falling due after more than one year 7 ( 762,000) 0
Provision for liabilities ( 870,178) ( 592,250)
Net assets 3,272,112 3,497,129
Capital and reserves
Called-up share capital 300 300
Profit and loss account 3,271,812 3,496,829
Total shareholder's funds 3,272,112 3,497,129

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jenkins Marine Ltd (registered number: 02256465) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

R M Jenkins
Director
JENKINS MARINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
JENKINS MARINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jenkins Marine Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office Container New Harbour Road West, Hamworthy, Poole, BH15 4AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Other property, plant and equipment 5 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 34

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Other property, plant
and equipment
Total
£ £ £ £ £ £ £
Cost
At 01 May 2023 96,560 504,633 32,397 78,822 8,980 6,280,003 7,001,395
Additions 0 117,809 0 0 0 2,364,759 2,482,568
Disposals 0 ( 156,800) 0 0 0 ( 1,117,246) ( 1,274,046)
At 30 April 2024 96,560 465,642 32,397 78,822 8,980 7,527,516 8,209,917
Accumulated depreciation
At 01 May 2023 96,560 356,197 22,968 76,115 4,420 3,114,036 3,670,296
Charge for the financial year 0 51,651 2,357 676 1,150 245,852 301,686
Disposals 0 ( 132,045) 0 0 0 ( 423,660) ( 555,705)
At 30 April 2024 96,560 275,803 25,325 76,791 5,570 2,936,228 3,416,277
Net book value
At 30 April 2024 0 189,839 7,072 2,031 3,410 4,591,288 4,793,640
At 30 April 2023 0 148,436 9,429 2,707 4,560 3,165,967 3,331,099

4. Stocks

2024 2023
£ £
Stocks 25,000 25,000

5. Debtors

2024 2023
£ £
Trade debtors 422,033 450,218
Amounts owed by Parent undertakings 153,603 0
Other debtors 183,643 318,787
759,279 769,005

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 193,839 141,409
Amounts owed to Group undertakings 220,000 220,000
Taxation and social security 50,103 165,328
Obligations under finance leases and hire purchase contracts (secured) 72,000 0
Other creditors 285,842 188,061
821,784 714,798

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 762,000 0

There are no amounts included above in respect of which any security has been given by the small entity.

8. Ultimate controlling party

Parent Company:

Jenkins Marine Holdings Ltd