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REGISTERED NUMBER: SC285528 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

D H Marine (Mergi) Limited

D H Marine (Mergi) Limited (Registered number: SC285528)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D H Marine (Mergi) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr D J Henry
Mrs H Henry





REGISTERED OFFICE: Marina Business Park
Gremista
Lerwick
Shetland
ZE1 0TA





REGISTERED NUMBER: SC285528 (Scotland)





ACCOUNTANTS: Thickbroom Coventry Limited
Chartered Accountants
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

D H Marine (Mergi) Limited (Registered number: SC285528)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 404,666 409,005
Investments 6 25,125 25,125
429,791 434,130

CURRENT ASSETS
Stocks 17,146 15,024
Debtors 7 65,248 61,526
Cash at bank and in hand 197,009 169,681
279,403 246,231
CREDITORS
Amounts falling due within one year 8 125,049 67,458
NET CURRENT ASSETS 154,354 178,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,145

612,903

PROVISIONS FOR LIABILITIES 700 1,500
NET ASSETS 583,445 611,403

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 583,443 611,401
SHAREHOLDERS' FUNDS 583,445 611,403

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

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

The directors acknowledge their 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.

D H Marine (Mergi) Limited (Registered number: SC285528)

Statement of Financial Position - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr D J Henry - Director


D H Marine (Mergi) Limited (Registered number: SC285528)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

D H Marine (Mergi) Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Departure from Companies Act Requirements
No depreciation is provided in respect of freehold land and buildings. The treatment in regards to this may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Land and buildingsNo depreciation
Plant and machinery25% straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


D H Marine (Mergi) Limited (Registered number: SC285528)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023
and 31 May 2024 10,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

D H Marine (Mergi) Limited (Registered number: SC285528)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 401,190 76,417 477,607
DEPRECIATION
At 1 June 2023 - 68,602 68,602
Charge for year - 4,339 4,339
At 31 May 2024 - 72,941 72,941
NET BOOK VALUE
At 31 May 2024 401,190 3,476 404,666
At 31 May 2023 401,190 7,815 409,005

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 25,125
NET BOOK VALUE
At 31 May 2024 25,125
At 31 May 2023 25,125

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,725 55,949
Amounts owed by group undertakings - 1,879
Other debtors 7,523 3,698
65,248 61,526

D H Marine (Mergi) Limited (Registered number: SC285528)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,418 26,004
Amounts owed to group undertakings 83,325 -
Taxation and social security 4,876 39,021
Other creditors 2,430 2,433
125,049 67,458

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2