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REGISTERED NUMBER: 07185572 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Taska Marine Limited

Taska Marine Limited (Registered number: 07185572)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Taska Marine Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: W Challis
D Challis





REGISTERED OFFICE: Taska Marine Ltd
Cliff Road
Ipswich
Suffolk
IP3 0AX





REGISTERED NUMBER: 07185572 (England and Wales)





ACCOUNTANTS: Clacton Business Services Ltd
Chartered Accountants
Hurlingham Chambers
61 Station Road
Clacton on Sea
Essex
CO15 1SD

Taska Marine Limited (Registered number: 07185572)

Balance Sheet
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 823,045 964,723

CURRENT ASSETS
Stocks 7,279 1,824
Debtors 5 385,128 251,793
Cash at bank and in hand 164,817 300,616
557,224 554,233
CREDITORS
Amounts falling due within one year 6 97,022 85,000
NET CURRENT ASSETS 460,202 469,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,283,247

1,433,956

CREDITORS
Amounts falling due after more than one year 7 - (8,359 )

PROVISIONS FOR LIABILITIES (89,179 ) (107,334 )
NET ASSETS 1,194,068 1,318,263

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 1,194,064 1,318,259
SHAREHOLDERS' FUNDS 1,194,068 1,318,263

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.

Taska Marine Limited (Registered number: 07185572)

Balance Sheet - continued
31 January 2024


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 31 October 2024 and were signed on its behalf by:





W Challis - Director


Taska Marine Limited (Registered number: 07185572)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Taska 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. ACCOUNTING POLICIES

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

Turnover
Turnover comprises revenue recognised by the company in respect of boat hire during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on cost and at variable rates on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Taska Marine Limited (Registered number: 07185572)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 262,390 1,522,947 1,785,337
Additions - 17,245 17,245
At 31 January 2024 262,390 1,540,192 1,802,582
DEPRECIATION
At 1 February 2023 45,919 774,695 820,614
Charge for year 13,120 145,803 158,923
At 31 January 2024 59,039 920,498 979,537
NET BOOK VALUE
At 31 January 2024 203,351 619,694 823,045
At 31 January 2023 216,471 748,252 964,723

5. DEBTORS
31/1/24 31/1/23
£    £   
Amounts falling due within one year:
Trade debtors 189,377 134,420
Amounts owed by group undertakings 20,000 20,000
Other debtors 84,751 97,373
294,128 251,793

Amounts falling due after more than one year:
Other debtors 91,000 -

Aggregate amounts 385,128 251,793

Taska Marine Limited (Registered number: 07185572)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 23,333 26,233
Hire purchase contracts 8,359 9,121
Trade creditors 22,068 28,586
Taxation and social security 32,006 12,817
Other creditors 11,256 8,243
97,022 85,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Hire purchase contracts - 8,359

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31/1/24 31/1/23
£    £   
W Challis
Balance outstanding at start of year 25,654 19,621
Amounts advanced 125,054 6,033
Amounts repaid (16,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 134,708 25,654

D Challis
Balance outstanding at start of year - -
Amounts advanced 3,733 -
Amounts repaid (3,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 733 -

9. ULTIMATE CONTROLLING PARTY

The company is under the control of Challis & Sons Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Taska Marine Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Taska Marine Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Taska Marine Limited, as a body, in accordance with the terms of our engagement letter dated 11 October 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Taska Marine Limited and state those matters that we have agreed to state to the Board of Directors of Taska Marine Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Taska Marine Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Taska Marine Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Taska Marine Limited. You consider that Taska Marine Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Taska Marine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Clacton Business Services Ltd
Chartered Accountants
Hurlingham Chambers
61 Station Road
Clacton on Sea
Essex
CO15 1SD


31 October 2024