Registered number
07596060
R MARINE LTD
Filleted Accounts
For the year ended 31 May 2024
R MARINE LTD
Registered number: 07596060
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 752 1,002
Current assets
Stocks 2,651 2,237
Debtors 4 5,821 3,649
Cash at bank and in hand 8,482 27,276
16,954 33,162
Creditors: amounts falling due within one year 5 (11,172) (12,768)
Net current assets 5,782 20,394
Total assets less current liabilities 6,534 21,396
Creditors: amounts falling due after more than one year 6 (11,832) (17,086)
Provisions for liabilities (143) (190)
Net (liabilities)/assets (5,441) 4,120
Capital and reserves
Called up share capital 2 2
Profit and loss account (5,443) 4,118
Shareholders' funds (5,441) 4,120
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Davey
Director
Approved by the board on 13 August 2024
R MARINE LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 8,921
At 31 May 2024 8,921
Depreciation
At 1 June 2023 7,919
Charge for the year 250
At 31 May 2024 8,169
Net book value
At 31 May 2024 752
At 31 May 2023 1,002
4 Debtors 2024 2023
£ £
Other debtors 5,821 3,649
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 501 960
Corporation tax - 260
Director current - 177
Other taxes and social security costs 1,338 2,207
Other creditors 9,333 9,164
11,172 12,768
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,832 17,086
7 Other information
R MARINE LTD is a private company limited by shares and incorporated in England. Its registered office is:
7 Bell Yard
London
WC2A 2JR
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