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Registered number: SC649636
Neptune Marine Services Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC649636
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,362 7,463
24,362 7,463
CURRENT ASSETS
Debtors 5 3,923 945
Cash at bank and in hand 20,057 1,561
23,980 2,506
Creditors: Amounts Falling Due Within One Year 6 (45,661 ) (8,263 )
NET CURRENT ASSETS (LIABILITIES) (21,681 ) (5,757 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,681 1,706
NET ASSETS 2,681 1,706
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 2,680 1,705
SHAREHOLDERS' FUNDS 2,681 1,706
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J K Borthwick
Director
4 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Neptune Marine Services Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC649636 . The registered office is Port Edgar Marina, Port Edgar, South Queensferry, EH30 9SQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At 31 December 2023, the company was in a net current liabilities position.  The director has confirmed that he will continue to support the business to meet its liabilities as they fall due for a period of 12 months from the date of signing.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 20% straight line
Computer Equipment 50% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 750 6,000 2,624 9,374
Additions 2,759 18,000 845 21,604
As at 31 December 2023 3,509 24,000 3,469 30,978
Depreciation
As at 1 January 2023 125 400 1,386 1,911
Provided during the period 307 3,220 1,178 4,705
As at 31 December 2023 432 3,620 2,564 6,616
Net Book Value
As at 31 December 2023 3,077 20,380 905 24,362
As at 1 January 2023 625 5,600 1,238 7,463
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,923 945
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 11,445 2,428
Other creditors 27,292 4,958
Taxation and social security 6,924 877
45,661 8,263
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
At 31 December 2023 the company owed the director £19,964 (2022: £4,958).
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