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Company Registration No. SC113496 (Scotland)
THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Unaudited accounts for the year ended 31 March 2024
THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Unaudited accounts Contents
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THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Company Information for the year ended 31 March 2024
Directors
Medhi Laftavi Margaret Laftavi
Secretary
Margaret Laftavi
Company Number
SC113496 (Scotland)
Registered Office
Heriot Watt University Research Park Edinburgh Midlothian EH14 4AP
Accountants
River CCyF Limited 2 Orchard Grove Kilmacolm Renfrewshire PA13 4HQ
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THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
22,528 
32,925 
Current assets
Debtors
228,550 
369,741 
Cash at bank and in hand
4,694,005 
4,552,750 
4,922,555 
4,922,491 
Creditors: amounts falling due within one year
(329,572)
(433,566)
Net current assets
4,592,983 
4,488,925 
Net assets
4,615,511 
4,521,850 
Capital and reserves
Called up share capital
12,000 
12,000 
Profit and loss account
4,603,511 
4,509,850 
Shareholders' funds
4,615,511 
4,521,850 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by
Medhi Laftavi Director Company Registration No. SC113496
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THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED is a private company, limited by shares, registered in Scotland, registration number SC113496. The registered office is Heriot Watt University Research Park, Edinburgh, Midlothian, EH14 4AP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over Life of Lease
Motor vehicles
25%-33% Straight Line
Fixtures & fittings
25%- 33% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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THE CENTRE FOR MARITIME & INDUSTRIAL SAFETY TECHNOLOGY LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
15,340 
181,402 
468,769 
31,115 
696,626 
At 31 March 2024
15,340 
181,402 
468,769 
31,115 
696,626 
Depreciation
At 1 April 2023
15,340 
180,527 
465,574 
2,260 
663,701 
Charge for the year
- 
875 
- 
9,522 
10,397 
At 31 March 2024
15,340 
181,402 
465,574 
11,782 
674,098 
Net book value
At 31 March 2024
- 
- 
3,195 
19,333 
22,528 
At 31 March 2023
- 
875 
3,195 
28,855 
32,925 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
209,570 
350,154 
Accrued income and prepayments
17,934 
19,587 
Other debtors
1,046 
- 
228,550 
369,741 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
13,122 
21,273 
Trade creditors
40,952 
39,444 
Taxes and social security
45,080 
25,672 
Loans from directors
23,699 
(5,498)
Accruals
146,722 
242,067 
Deferred income
59,997 
110,608 
329,572 
433,566 
7
Loans to directors
At the Year End the company owed the Directors £23,699 Previous year the Directors owed the company £5498
8
Average number of employees
During the year the average number of employees was 8 (2023: 12).
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