Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 01465237 Mr Robert Cross Mr William Cross Robert Cross 10 Severn Road, Sharpness, Berkeley, England, GL13 9UF false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01465237 2023-04-30 01465237 2024-04-30 01465237 2023-05-01 2024-04-30 01465237 frs-core:Non-currentFinancialInstruments 2024-04-30 01465237 frs-core:BetweenOneFiveYears 2024-04-30 01465237 frs-core:ComputerEquipment 2023-05-01 2024-04-30 01465237 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 01465237 frs-core:FurnitureFittings 2023-05-01 2024-04-30 01465237 frs-core:MotorVehicles 2023-05-01 2024-04-30 01465237 frs-core:PlantMachinery 2023-05-01 2024-04-30 01465237 frs-core:WithinOneYear 2024-04-30 01465237 frs-core:ShareCapital 2024-04-30 01465237 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 01465237 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01465237 frs-bus:AbridgedAccounts 2023-05-01 2024-04-30 01465237 frs-bus:SmallEntities 2023-05-01 2024-04-30 01465237 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01465237 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 01465237 1 2023-05-01 2024-04-30 01465237 frs-bus:Director1 2023-05-01 2024-04-30 01465237 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 01465237 frs-countries:EnglandWales 2023-05-01 2024-04-30 01465237 2022-04-30 01465237 2023-04-30 01465237 2022-05-01 2023-04-30 01465237 frs-core:Non-currentFinancialInstruments 2023-04-30 01465237 frs-core:BetweenOneFiveYears 2023-04-30 01465237 frs-core:WithinOneYear 2023-04-30 01465237 frs-core:ShareCapital 2023-04-30 01465237 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 01465237
Marine Holdings (Sharpness) LTD
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 01465237
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,722 3,861
Tangible Assets 5 320,640 194,569
Investment Properties 6 3,492,901 3,105,899
3,822,263 3,304,329
CURRENT ASSETS
Stocks 67,215 140,940
Debtors 72,424 289,627
Cash at bank and in hand 33,667 118,062
173,306 548,629
Creditors: Amounts Falling Due Within One Year (637,013 ) (649,532 )
NET CURRENT ASSETS (LIABILITIES) (463,707 ) (100,903 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,358,556 3,203,426
Creditors: Amounts Falling Due After More Than One Year 7 (114,547 ) (25,779 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (429,372 ) (434,953 )
NET ASSETS 2,814,637 2,742,694
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Profit and Loss Account 2,804,637 2,732,694
SHAREHOLDERS' FUNDS 2,814,637 2,742,694
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For the 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.
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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Robert Cross
Director
14/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Marine Holdings (Sharpness) LTD Registered number 01465237 is a limited by shares company incorporated in England & Wales. The Registered Office is 10 Severn Road, Sharpness, Berkeley, Gloucestershire, GL13 9UF.
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. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised in the period to which it relates.

Rental income is recognised in the period to which it relates.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over their estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 10% reducing balance and 20% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33.3% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 3
4 3
4. Intangible Assets
Total
£
Cost
As at 1 May 2023 4,826
Additions 7,283
As at 30 April 2024 12,109
Amortisation
As at 1 May 2023 965
Provided during the period 2,422
As at 30 April 2024 3,387
Net Book Value
As at 30 April 2024 8,722
As at 1 May 2023 3,861
5. Tangible Assets
Total
£
Cost
As at 1 May 2023 407,271
Additions 279,672
Disposals (84,903 )
As at 30 April 2024 602,040
Depreciation
As at 1 May 2023 212,702
Provided during the period 75,132
Disposals (6,434 )
As at 30 April 2024 281,400
Net Book Value
As at 30 April 2024 320,640
As at 1 May 2023 194,569
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6. Investment Property
2024
£
Fair Value
As at 1 May 2023 3,105,899
Additions 387,002
As at 30 April 2024 3,492,901
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured on the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 108,129 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,245 -
Later than one year and not later than five years 98,884 -
108,129 -
108,129 -
10. Deferred Taxation
The provision for deferred tax is made up as follows:
Accelerated Capital Allowances: £30,972 (2023: £36,553)
Deferred Tax provision on the unrealised gain on the investment properties: £398,400 (2023: £398,400). 
2024 2023
£ £
Other timing differences 429,372 434,953
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
12. Reserves
Of the reserves, £1,316,421 (2023 - £1,316,421) are non-distributable.
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13. Related Party Transactions
During the year R W Davis & Son Ltd, a company in which the parent company of Marine Holdings (Sharpness) Ltd has a 50% interest, was charged £14,800 (2023 - £44,400) for management charges by Marine Holdings (Sharpness) Limited. At the year end Marine Holdings was owed £nil (2023 - £nil) by R W Davis & Son Ltd. This amount is included within trade debtors.
During the year, Marine Holdings (Sharpness) Ltd paid a dividend to Cross Country Holdings LTD, the parent company, of £nil (2023 - £nil). During the year, a bank loan of £nil (2023 - £399,063) was re-assigned from Marine Holdings (Sharpness) Ltd to Cross Country Holdings Ltd. At the year end, Marine Holdings (Sharpness) Ltd owed Cross Country Holdings Ltd £484,926 (2023 - £565,721). This amount is included within amounts owed to parent company. No interest has been charged in respect of this balance.
During the year, Marine Holdings (Sharpness) Ltd loaned £nil (2023 - £10,800) to Cross Country Automotive Co Ltd, a wholly owned subsidiary of Cross Country Holdings Ltd. In turn, Cross Country Automotive Co Ltd paid expenses on behalf Marine Holdings (Sharpness) Ltd. At the year end £922 (2023 - £922) was outstanding and included within amounts owed by group companies.
During the year, Marine Holdings (Sharpness) Ltd was invoiced £304,011 (2023 - £nil) for a stage payment for the build costs of a new commercial unit. This amount was fully paid by the year end. At the year end £nil (2023 - £279,951) was outstanding and included within amounts owed by group companies.
14. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is Cross Country Holdings LTD . Cross Country Holdings LTD was incorporated in England & Wales. Copies of the unconsolidated group accounts may be obtained from the secretary, 10 Severn Road, Sharpness, Berkeley, England, GL13 9UF . The controlling party is Robert Cross who controls 60% of the shares of Marine Holdings (Sharpness) LTD .
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