GEMMELL & PROUT MARINE LIMITED

Company Registration Number:
02920502 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

GEMMELL & PROUT MARINE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

GEMMELL & PROUT MARINE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 44 51
Total fixed assets: 44 51
Current assets
Stocks: 36,461 75,992
Debtors:   138,384 195,379
Cash at bank and in hand: 221,665 215,182
Total current assets: 396,510 486,553
Creditors: amounts falling due within one year: 4 (101,133) (185,914)
Net current assets (liabilities): 295,377 300,639
Total assets less current liabilities: 295,421 300,690
Creditors: amounts falling due after more than one year: 5 (22,440) (32,389)
Total net assets (liabilities): 272,981 268,301
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 272,881 268,201
Shareholders funds: 272,981 268,301

The notes form part of these financial statements

GEMMELL & PROUT MARINE LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 June 2024
and signed on behalf of the board by:

Name: N J Prout
Status: Director

The notes form part of these financial statements

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added taxes.

Tangible fixed assets and depreciation policy

Plant and equipment & Computer equipment 15% on written down value.

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 6 6

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 1,760
At 31 March 2024 1,760
Depreciation
At 01 April 2023 1,709
Charge for year 7
At 31 March 2024 1,716
Net book value
At 31 March 2024 44
At 31 March 2023 51

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 Trade creditors £ 86003, Taxation and social security £ 12091, Other creditors £ 3039. 2023 Trade creditors £ 114085, Other creditors £ 71829.

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due after more than one year note

2024 Bank loans £ 22440 2023 Bank loans £ 32389

GEMMELL & PROUT MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Related party transactions

Name of the related party: L G Prout & Sons Limited
Relationship:
Parent Company
Description of the Transaction: Management charges totaling £118000 was paid to L G Prout & Sons Limited. 2023 £ 88120 paid
£
Balance at 01 April 2023 0
Balance at 31 March 2024 0