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REGISTERED NUMBER: 05437369 (England and Wales)









REDDISH MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






REDDISH MARINE LIMITED (REGISTERED NUMBER: 05437369)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REDDISH MARINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: S Reddish
I Reddish
G Reddish





REGISTERED OFFICE: Unit 1 Hannaford's Landing
Island Street
Salcombe
Devon
TQ8 8FE





REGISTERED NUMBER: 05437369 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

REDDISH MARINE LIMITED (REGISTERED NUMBER: 05437369)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 10,750 16,125
Tangible assets 6 11,947 10,891
22,697 27,016

CURRENT ASSETS
Stocks 79,306 105,571
Debtors 7 66,506 108,904
Cash at bank 46,793 56,900
192,605 271,375
CREDITORS
Amounts falling due within one year 8 75,776 147,176
NET CURRENT ASSETS 116,829 124,199
TOTAL ASSETS LESS CURRENT LIABILITIES 139,526 151,215

PROVISIONS FOR LIABILITIES 300 -
NET ASSETS 139,226 151,215

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 139,126 151,115
139,226 151,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





S Reddish - Director


REDDISH MARINE LIMITED (REGISTERED NUMBER: 05437369)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Reddish Marine 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 the rendering of services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings- Straight line over 5-8 years
Plant and machinery- 20% Reducing balance
Fixtures and fittings- 25% on cost
Motor vehicles- 25% reducing balance
Computer equipment- 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

REDDISH MARINE LIMITED (REGISTERED NUMBER: 05437369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued

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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 107,500
AMORTISATION
At 1 February 2023 91,375
Amortisation for year 5,375
At 31 January 2024 96,750
NET BOOK VALUE
At 31 January 2024 10,750
At 31 January 2023 16,125

REDDISH MARINE LIMITED (REGISTERED NUMBER: 05437369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 8,276 20,389 6,642 14,546 49,853
Additions - 4,900 - - 4,900
At 31 January 2024 8,276 25,289 6,642 14,546 54,753
DEPRECIATION
At 1 February 2023 8,276 18,497 4,513 7,676 38,962
Charge for year - 1,359 768 1,717 3,844
At 31 January 2024 8,276 19,856 5,281 9,393 42,806
NET BOOK VALUE
At 31 January 2024 - 5,433 1,361 5,153 11,947
At 31 January 2023 - 1,892 2,129 6,870 10,891

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,082 105,617
Other debtors 6,424 3,287
66,506 108,904

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,223 38,414
Taxation and social security 20,994 15,810
Other creditors 51,559 92,952
75,776 147,176