2023-04-012024-03-312024-03-31false04389142Anglo European Marine 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Anglo European Marine Limited

Registered Number
04389142
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Anglo European Marine Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

FOWDEN, Balliol Gascoigne

Company Secretary

FOWDEN, Doreen Estelle

Registered Address

Burleigh House
273 Hillmorton Road
Rugby
CV22 5BH

Registered Number

04389142 (England and Wales)
Anglo European Marine Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,5162,105
2,5162,105
Current assets
Stocks4,060-
Debtors1,7072,085
Cash at bank and on hand20,07115,493
25,83817,578
Creditors amounts falling due within one year4(4,295)(920)
Net current assets (liabilities)21,54316,658
Total assets less current liabilities24,05918,763
Creditors amounts falling due after one year5(19,975)(15,237)
Provisions for liabilities6(479)(401)
Net assets3,6053,125
Capital and reserves
Called up share capital33
Profit and loss account3,6023,122
Shareholders' funds3,6053,125
The financial statements were approved and authorised for issue by the Director on 16 September 2024, and are signed on its behalf by:
FOWDEN, Balliol Gascoigne
Director
Registered Company No. 04389142
Anglo European Marine Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 2317,20617,206
Additions1,2491,249
At 31 March 2418,45518,455
Depreciation and impairment
At 01 April 2315,10115,101
Charge for year838838
At 31 March 2415,93915,939
Net book value
At 31 March 242,5162,516
At 31 March 232,1052,105
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security3,184910
Accrued liabilities and deferred income1,11110
Total4,295920
5.Creditors: amounts due after one year

2024

2023

££
Other creditors19,97515,237
Total19,97515,237
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)479401
Total479401
7.Related party transactions
Dividends totaling £13,200 (2023-£3,000) were paid in the year in respect of shares held by the company's directors. Included in other creditors at the balance sheet date is £19,975 (2023-£15,237) due from the company to the director. the loan is interest free and has no fixed repayment date.