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REGISTERED NUMBER: 09597906 (England and Wales)















NWS MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NWS MARINE LIMITED

COMPANY INFORMATION
for the Year Ended 31 MAY 2024







DIRECTOR: Mr N W Scotto





REGISTERED OFFICE: Unit B5
Hilton Main Industrial Estate
Essington
Wolverhampton
West Midlands
WV11 2BE





REGISTERED NUMBER: 09597906 (England and Wales)





ACCOUNTANTS: Wallace Crooke
Chartered Accountants
College House
St. Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 800 1,600
Tangible assets 5 23,252 27,776
24,052 29,376

CURRENT ASSETS
Stocks 183,000 81,398
Debtors 6 11,824 13,405
Cash at bank and in hand 14,160 28,829
208,984 123,632
CREDITORS
Amounts falling due within one year 7 196,626 134,928
NET CURRENT ASSETS/(LIABILITIES) 12,358 (11,296 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,410

18,080

CREDITORS
Amounts falling due after more than one
year

8

(32,321

)

(38,809

)

PROVISIONS FOR LIABILITIES 10 (3,397 ) -
NET ASSETS/(LIABILITIES) 692 (20,729 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 592 (20,829 )
SHAREHOLDERS' FUNDS 692 (20,729 )

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

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

NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2025 and were signed by:





Mr N W Scotto - Director


NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024

1. STATUTORY INFORMATION

NWS Marine 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 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.


NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 8,000
AMORTISATION
At 1 June 2023 6,400
Charge for year 800
At 31 May 2024 7,200
NET BOOK VALUE
At 31 May 2024 800
At 31 May 2023 1,600

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 1,542 43,994 2,369 47,905
Additions - - 1,549 1,549
At 31 May 2024 1,542 43,994 3,918 49,454
DEPRECIATION
At 1 June 2023 587 17,598 1,944 20,129
Charge for year 143 5,279 651 6,073
At 31 May 2024 730 22,877 2,595 26,202
NET BOOK VALUE
At 31 May 2024 812 21,117 1,323 23,252
At 31 May 2023 955 26,396 425 27,776

NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,152 1,088
Other debtors 1,672 12,317
11,824 13,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 6,060 6,060
Hire purchase contracts 3,761 3,761
Trade creditors 182,366 116,686
Other creditors 4,439 8,421
196,626 134,928

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 16,304 19,031
Hire purchase contracts 16,017 19,778
32,321 38,809

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 851

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,060 6,060

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,304 18,180

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 851

NWS MARINE LIMITED (REGISTERED NUMBER: 09597906)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,397 -

Deferred
tax
£   
Provided during year 3,397
Balance at 31 May 2024 3,397

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100