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REGISTERED NUMBER: 14636695 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

3 FEBRUARY 2023 TO 31 MARCH 2024

FOR

MARINE INDUSTRY NEWS LIMITED

MARINE INDUSTRY NEWS LIMITED (REGISTERED NUMBER: 14636695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 FEBRUARY 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARINE INDUSTRY NEWS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 3 FEBRUARY 2023 TO 31 MARCH 2024







DIRECTOR: M A Shepherd





REGISTERED OFFICE: Units SF1-2
Endeavour Quay
Mumby Road
Gosport
Hampshire
PO12 1AH





REGISTERED NUMBER: 14636695 (England and Wales)

MARINE INDUSTRY NEWS LIMITED (REGISTERED NUMBER: 14636695)

BALANCE SHEET
31 MARCH 2024

Notes £   
CURRENT ASSETS
Debtors 4 97,086
Cash at bank 8,407
105,493
CREDITORS
Amounts falling due within one year 5 50,984
NET CURRENT ASSETS 54,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,509

CAPITAL AND RESERVES
Called up share capital 6 1,030
Share premium 49,900
Retained earnings 3,579
SHAREHOLDERS' FUNDS 54,509

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:



M A Shepherd - Director


MARINE INDUSTRY NEWS LIMITED (REGISTERED NUMBER: 14636695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 FEBRUARY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Marine Industry News 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.

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.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

Going concern
The balance sheet reports a deficiency of net assets. The directors have confirmed their financial support as necessary for the company meet its obligations as they fall due. In doing so, the directors are satisfied that the company will continue for at least 12 months from the approval these financial statements and therefore prepared accounts as a going concern.

Turnover
Revenue (described as turnover) is measured at fair value of the consideration received or receivable for services. It is recognised as contractual obligations are fulfilled and represents the amount received or receivable for services rendered net of discounts, rebates and value added tax.

Taxation
Tax on profit represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to the extent that it is probable that taxable profits will be available to utilise the timing difference.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.

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.

MARINE INDUSTRY NEWS LIMITED (REGISTERED NUMBER: 14636695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 FEBRUARY 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.Bank overdrafts, when applicable, are shown within current liabilities.

Creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 18,180
Other debtors 78,906
97,086

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 4,614
Taxation and social security 11,295
Other creditors 35,075
50,984

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1,030 Ordinary £1 1,030

1,030 Ordinary shares of £1 each were allotted as fully paid at a premium of 48.4466 per share during the period.