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Registered number: 04462972

Hover Marine Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023

Prepared By:
R F Love and Company
Chartered Accountant
Holly House
21d, Chudleigh Road
Exeter
Devon
EX2 8TS

Hover Marine Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023
DIRECTORS
R F Love
G S Litton
SECRETARY
Roy Love
REGISTERED OFFICE
23 Chudleigh Road
Exeter
Devon
EX2 8TS
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04462972
ACCOUNTANTS
R F Love and Company
Chartered Accountant
Holly House
21d, Chudleigh Road
Exeter
Devon
EX2 8TS

Hover Marine Limited

ACCOUNTS
FOR THEYEARENDED31/12/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Hover Marine Limited

BALANCE SHEET AT 31/12/2023
20232022
Notes££
FIXED ASSETS
Tangible assets37691,028
CURRENT ASSETS
Stock44,60044,600
Debtors5457457
Cash at bank and in hand1365
45,07045,122
CREDITORS: Amounts falling due within one year645,59044,609
NET CURRENT (LIABILITIES) / ASSETS(520)513
TOTAL ASSETS LESS CURRENT LIABILITIES2491,541
CREDITORS: Amounts falling due after more than one year7316246
NET (LIABILITIES) / ASSETS(67)1,295
CAPITAL AND RESERVES
Called up share capital89,0009,000
Profit and loss account(9,067)(7,705)
SHAREHOLDERS' FUNDS(67)1,295
For the year ending 31/12/2023 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 17/11/2014 and signed on their behalf by
.............................
R F Love
Director

Hover Marine Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20232022
No.No.
Average number of employees22

Hover Marine Limited

3. TANGIBLE FIXED ASSETS
Fixtures
and FittingsTotal
££
Cost
At 01/01/202310,27410,274
At 31/12/202310,27410,274
Depreciation
At 01/01/20239,2469,246
For the year259259
At 31/12/20239,5059,505
Net Book Amounts
At 31/12/2023769769
At 31/12/20221,0281,028
4. STOCK 20232022
££
Stock comprises:
Work in progress44,60044,600
44,60044,600
5. DEBTORS 20232022
££
Amounts falling due within one year
Amounts falling due over more than one year
Long term debtor457457
457457
457457
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Directors current account45,59044,609
45,59044,609

Hover Marine Limited

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Long term creditor316246
316246
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
9000 Ordinary shares of £1 each90009000
9,0009,000