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REGISTERED NUMBER: 07677480 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Tipos Marine Services Limited

Tipos Marine Services Limited (Registered number: 07677480)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tipos Marine Services Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr I Cottam
Mrs S Y Cottam





REGISTERED OFFICE: 87 Bawtry Road
Brinsworth
Rotherham
South Yorkshire
S60 5NB





REGISTERED NUMBER: 07677480 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Tipos Marine Services Limited (Registered number: 07677480)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,655 42,263

CURRENT ASSETS
Debtors 5 22,357 9,545
Cash at bank 29,878 29,788
52,235 39,333
CREDITORS
Amounts falling due within one year 6 85,662 64,409
NET CURRENT LIABILITIES (33,427 ) (25,076 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,772

)

17,187

CREDITORS
Amounts falling due after more than
one year

7

(10,517

)

(23,028

)

PROVISIONS FOR LIABILITIES 8 (4,147 ) (8,030 )
NET LIABILITIES (19,436 ) (13,871 )

Tipos Marine Services Limited (Registered number: 07677480)

Balance Sheet - continued
31 August 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,536 ) (13,971 )
SHAREHOLDERS' FUNDS (19,436 ) (13,871 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 13 December 2024 and were signed on its behalf by:




Mr I Cottam - Director



Mrs S Y Cottam - Director


Tipos Marine Services Limited (Registered number: 07677480)

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

1. STATUTORY INFORMATION

Tipos Marine Services Limited is a private company, limited by shares, domiciled in England and Wales, registration number 07677480. The registered office is 87 Bawtry Road, Brinsworth, Rotherham,South Yorkshire S60 5NB.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on reducing balance basis
Plant and machinery - 20% on reducing balance basis
Fixtures and fittings - 20% on reducing balance basis
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance basis

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 balance sheet date.


Tipos Marine Services Limited (Registered number: 07677480)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company meets its day to day working capital requirements through monies introduced by the director. The director will continue to provide funds as they are required by the company to meet its day to day requirements. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

Tipos Marine Services Limited (Registered number: 07677480)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 6,866 32,124 3,320
Disposals - - -
At 31 August 2024 6,866 32,124 3,320
DEPRECIATION
At 1 September 2023 5,055 24,626 2,582
Charge for year 272 1,501 111
At 31 August 2024 5,327 26,127 2,693
NET BOOK VALUE
At 31 August 2024 1,539 5,997 627
At 31 August 2023 1,811 7,498 738

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 101,775 3,892 147,977
Disposals (3,669 ) - (3,669 )
At 31 August 2024 98,106 3,892 144,308
DEPRECIATION
At 1 September 2023 69,964 3,487 105,714
Charge for year 7,953 102 9,939
At 31 August 2024 77,917 3,589 115,653
NET BOOK VALUE
At 31 August 2024 20,189 303 28,655
At 31 August 2023 31,811 405 42,263

Tipos Marine Services Limited (Registered number: 07677480)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 23,987
DEPRECIATION
At 1 September 2023
and 31 August 2024 16,398
NET BOOK VALUE
At 31 August 2024 7,589
At 31 August 2023 7,589

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,357 9,545

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,512 9,283
Hire purchase contracts 4,628 4,628
Trade creditors 26,126 25,164
Taxation and social security 22,845 10,112
Other creditors 24,551 15,222
85,662 64,409

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,260 13,772
Hire purchase contracts 4,257 9,256
10,517 23,028

Tipos Marine Services Limited (Registered number: 07677480)

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

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances - 8,030
Deferred tax 4,147 -
4,147 8,030

Deferred
tax
£   
Balance at 1 September 2023 8,030
Provided during year (3,883 )
Balance at 31 August 2024 4,147