IRIS Accounts Production v24.3.2.46 10367407 director 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh103674072023-04-30103674072024-04-30103674072023-05-012024-04-30103674072022-04-30103674072022-05-012023-04-30103674072023-04-3010367407ns15:EnglandWales2023-05-012024-04-3010367407ns14:PoundSterling2023-05-012024-04-3010367407ns10:Director12023-05-012024-04-3010367407ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3010367407ns10:SmallEntities2023-05-012024-04-3010367407ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3010367407ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3010367407ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3010367407ns10:FullAccounts2023-05-012024-04-3010367407ns10:RegisteredOffice2023-05-012024-04-3010367407ns5:CurrentFinancialInstruments2024-04-3010367407ns5:CurrentFinancialInstruments2023-04-3010367407ns5:Non-currentFinancialInstruments2024-04-3010367407ns5:Non-currentFinancialInstruments2023-04-3010367407ns5:ShareCapital2024-04-3010367407ns5:ShareCapital2023-04-3010367407ns5:RetainedEarningsAccumulatedLosses2024-04-3010367407ns5:RetainedEarningsAccumulatedLosses2023-04-3010367407ns5:PlantMachinery2023-05-012024-04-3010367407ns5:ComputerEquipment2023-05-012024-04-3010367407ns5:PlantMachinery2023-04-3010367407ns5:ComputerEquipment2023-04-3010367407ns5:PlantMachinery2024-04-3010367407ns5:ComputerEquipment2024-04-3010367407ns5:PlantMachinery2023-04-3010367407ns5:ComputerEquipment2023-04-3010367407ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3010367407ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3010367407ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3010367407ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3010367407ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3010367407ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-30
REGISTERED NUMBER: 10367407 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MARINA BOATS LIMITED

MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

MARINA BOATS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: A Pragnell





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: 10367407 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,940 58,753
Investment property 5 440,912 -
490,852 58,753

CURRENT ASSETS
Stocks 6 7,500 7,500
Debtors 7 28,144 34,431
Cash at bank 6,953 88,946
42,597 130,877
CREDITORS
Amounts falling due within one year 8 358,561 22,234
NET CURRENT (LIABILITIES)/ASSETS (315,964 ) 108,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,888

167,396

CREDITORS
Amounts falling due after more than one
year

9

(15,831

)

(25,946

)

PROVISIONS FOR LIABILITIES (9,489 ) (11,163 )
NET ASSETS 149,568 130,287

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 149,468 130,187
149,568 130,287

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.

MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





A Pragnell - Director


MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Marina Boats 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.

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.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover
Turnover represents net invoiced sales of products excluding value added tax. Turnover is recognised at the point at which consideration becomes due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 118,996 666 119,662
DEPRECIATION
At 1 May 2023 60,243 666 60,909
Charge for year 8,813 - 8,813
At 30 April 2024 69,056 666 69,722
NET BOOK VALUE
At 30 April 2024 49,940 - 49,940
At 30 April 2023 58,753 - 58,753

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 440,912
At 30 April 2024 440,912
NET BOOK VALUE
At 30 April 2024 440,912

6. STOCKS
30.4.24 30.4.23
£    £   
Stocks 7,500 7,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 19,239 -
Other debtors 8,905 24,475
Tax - 9,956
28,144 34,431

MARINA BOATS LIMITED (REGISTERED NUMBER: 10367407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 10) 9,872 9,628
Tax 2,702 -
VAT 20,059 9,272
Other creditors 77,121 -
Directors' current accounts 245,609 284
Accrued expenses 3,198 3,050
358,561 22,234

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 10) 15,831 25,946

10. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,872 9,628

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,872 9,872

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,959 16,074

11. RELATED PARTY DISCLOSURES

A directors loan account exists to which no terms are attached. At the year end, Mr Aidan Pragnell was owed £245,609 (2023: £284) by the company. The loan is repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARINA BOATS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marina Boats Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Marina Boats Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marina Boats Limited and state those matters that we have agreed to state to the director of Marina Boats Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marina Boats Limited and its director for our work or for this report.

It is your duty to ensure that Marina Boats Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marina Boats Limited. You consider that Marina Boats Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Marina Boats Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


29 January 2025