Registered number
06396681
Thameside Services Marine Ltd
Filleted Accounts
31 March 2024
Thameside Services Marine Ltd
Registered number: 06396681
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 536,392 563,357
536,393 563,358
Current assets
Debtors 5 460,249 321,891
Cash at bank and in hand 24,210 187,834
484,459 509,725
Creditors: amounts falling due within one year 6 (69,686) (85,220)
Net current assets 414,773 424,505
Total assets less current liabilities 951,166 987,863
Creditors: amounts falling due after more than one year 7 (13,333) (23,333)
Provisions for liabilities (95,588) (80,936)
Net assets 842,245 883,594
Capital and reserves
Called up share capital 100 100
Profit and loss account 842,145 883,494
Shareholders' funds 842,245 883,594
The director is 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 director acknowledges his 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.
John Furrents
Director
Approved by the board on 5 December 2024
Thameside Services Marine Ltd
Notes to the Accounts
for the year ended 31 March 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Boats over 20 years
Motor vehicles over 4 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 31 March 2024 -
Amortisation
At 1 April 2023 (1)
At 31 March 2024 (1)
Net book value
At 31 March 2024 1
At 31 March 2023 1
Goodwill is being written off in annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 129,623 783,120 53,589 966,332
Additions - 24,337 - 24,337
Disposals - (25,518) (2,450) (27,968)
At 31 March 2024 129,623 781,939 51,139 962,701
Depreciation
At 1 April 2023 - 368,136 34,839 402,975
Charge for the year - 44,188 6,250 50,438
On disposals - (24,654) (2,450) (27,104)
At 31 March 2024 - 387,670 38,639 426,309
Net book value
At 31 March 2024 129,623 394,269 12,500 536,392
At 31 March 2023 129,623 414,984 18,750 563,357
5 Debtors 2024 2023
£ £
Trade debtors 318,663 165,304
Other debtors 141,586 156,587
460,249 321,891
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 27,010 40,332
Taxation and social security costs 12,857 23,694
Other creditors 19,819 11,194
69,686 85,220
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,333 23,333
8 Controlling party
During the year, the company was under the ultimate control of it's Director, John Furrents, who owns 51% of the issued share capital.
9 Other information
Thameside Services Marine Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Warden Court Cottage
Thorn Hill Road
Warden
Kent
ME12 4HF
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