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REGISTERED NUMBER: 07867507 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

DESTY MARINE INTERNATIONAL LIMITED

DESTY MARINE INTERNATIONAL LIMITED (REGISTERED NUMBER: 07867507)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DESTY MARINE INTERNATIONAL LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTOR: N A Desty





REGISTERED OFFICE: 13 Hursley Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2FW





REGISTERED NUMBER: 07867507 (England and Wales)

DESTY MARINE INTERNATIONAL LIMITED (REGISTERED NUMBER: 07867507)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Stocks 50,000 201,464
Debtors 4 2,417,021 2,544,631
Cash at bank and in hand 43,152 37,083
2,510,173 2,783,178
CREDITORS
Amounts falling due within one year 5 3,268,701 2,810,756
NET CURRENT LIABILITIES (758,528 ) (27,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(758,528

)

(27,578

)

CREDITORS
Amounts falling due after more than one
year

6

283,034

452,043
NET LIABILITIES (1,041,562 ) (479,621 )

CAPITAL AND RESERVES
Called up share capital 3 3
Capital redemption reserve 1 1
Retained earnings (1,041,566 ) (479,625 )
SHAREHOLDERS' FUNDS (1,041,562 ) (479,621 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 17 January 2025 and were signed by:





N A Desty - Director


DESTY MARINE INTERNATIONAL LIMITED (REGISTERED NUMBER: 07867507)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

Desty Marine International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the income derived from the ordinary activity of the company, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

DESTY MARINE INTERNATIONAL LIMITED (REGISTERED NUMBER: 07867507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 27 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 910,634 345,036
Amounts owed by group undertakings - 372,585
Other debtors 1,506,387 1,827,010
2,417,021 2,544,631

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 175,342 175,342
Trade creditors 1,714,921 1,401,278
Taxation and social security 1,293,932 690,873
Other creditors 84,506 543,263
3,268,701 2,810,756

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 283,034 452,043

7. GOING CONCERN

The director considers that, due to circumstances beyond it's control the company can not continue to trade without jeopardising the interest of its suppliers and stakeholders. The director has decided to review the financial position of the company together with external consultants with a view to winding up the operations of Desty Marine International Limited.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
N A Desty
Balance outstanding at start of year 262,462 449,830
Amounts advanced 2,456 185,376
Amounts repaid (244,125 ) (372,744 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,793 262,462

J K Desty
Balance outstanding at start of year - 40,347
Amounts advanced - 18,603
Amounts repaid - (58,950 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

DESTY MARINE INTERNATIONAL LIMITED (REGISTERED NUMBER: 07867507)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R W Desty
Balance outstanding at start of year - 87,582
Amounts advanced - 42,203
Amounts repaid - (129,785 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The company has made advances to the directors. The agreed terms are that the advances are repayable on demand and interest is to be charged on the advances at the official rate where the balance exceeds £10,000 at any time during the year.

Interest of £2,022 (2023: £12,423) has been charged during the year.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors.