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REGISTERED NUMBER: 01447628 (England and Wales)




































AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MARY ROSE TRADING LIMITED

MARY ROSE TRADING LIMITED (REGISTERED NUMBER: 01447628)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARY ROSE TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Duncan Smith
Dominic Jones
Timothy Rusby
Nigel Purse
Pippa Bostock
Jason Sexton
Terence Richard Stevens


SECRETARY: Susan Wright ACMA


REGISTERED OFFICE: 1/10 College Road
H M Naval Base
Portsmouth
Hampshire
PO1 3LX


REGISTERED NUMBER: 01447628 (England and Wales)


SENIOR STATUTORY AUDITOR: Kerry Lawrance FCA


AUDITORS: Compass Accountants Limited
Chartered Accountants and Statutory Auditors
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR


BANKERS: Lloyds Bank PLC
3 Town Quay
Southampton
Hampshire
SO14 2AQ

MARY ROSE TRADING LIMITED (REGISTERED NUMBER: 01447628)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Inventories 5 62,611 33,995
Debtors 6 29,913 36,103
Cash at bank and in hand 121,174 141,991
213,698 212,089
CREDITORS
Amounts falling due within one year 7 213,507 211,898
NET CURRENT ASSETS 191 191
TOTAL ASSETS LESS CURRENT
LIABILITIES

191

191

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 189 189
SHAREHOLDERS' FUNDS 191 191

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2024 and were signed on its behalf by:




Duncan Smith - Director



Jason Sexton - Director


MARY ROSE TRADING LIMITED (REGISTERED NUMBER: 01447628)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Mary Rose Trading 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
Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

MARY ROSE TRADING LIMITED (REGISTERED NUMBER: 01447628)

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


2. ACCOUNTING POLICIES - continued

Gift aid payment
The company has entered into a Gift Aid arrangement with The Mary Rose Trust whereby the company agrees to pay in each accounting period such a sum as will amount to its net taxable profit for the period.

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1st April 2023
and 31st March 2024 17,635
DEPRECIATION
At 1st April 2023
and 31st March 2024 17,635
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. INVENTORIES
31.3.24 31.3.23
£    £   
Stocks 62,611 33,995

20242023
££
Slow moving and obsolete stock1,015546

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 19,201 14,086
Prepayments and accrued income 10,712 22,017
29,913 36,103

MARY ROSE TRADING LIMITED (REGISTERED NUMBER: 01447628)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,518 20,090
Amounts owed to group undertakings 16,787 15,100
Gift aid due payable 162,413 164,209
Other creditors 500 -
Accrued expenses and deferred
income 24,289 12,499
213,507 211,898

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kerry Lawrance FCA (Senior Statutory Auditor)
for and on behalf of Compass Accountants Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Mary Rose Trust, whose registered office is the same as that on page 1.