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ORCA MARINE COATINGS LTD

Registered Number
13447352
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ORCA MARINE COATINGS LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

ARRINGTON, Thomas William
SHEPHERD, James Keith

Registered Address

Penhallick Church Road
Mabe Burnthouse
Penryn
TR10 9HW

Registered Number

13447352 (England and Wales)
ORCA MARINE COATINGS LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,030557
1,030557
Current assets
Debtors48199,871
Cash at bank and on hand40,92984,148
41,74894,019
Creditors amounts falling due within one year5(2,621)(15,968)
Net current assets (liabilities)39,12778,051
Total assets less current liabilities40,15778,608
Net assets40,15778,608
Capital and reserves
Called up share capital11
Profit and loss account40,15678,607
Shareholders' funds40,15778,608
The financial statements were approved and authorised for issue by the Board of Directors on 4 November 2024, and are signed on its behalf by:
ARRINGTON, Thomas William
Director
Registered Company No. 13447352
ORCA MARINE COATINGS LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 July 23743-743
Additions-816816
At 30 June 247438161,559
Depreciation and impairment
At 01 July 23186-186
Charge for year139204343
At 30 June 24325204529
Net book value
At 30 June 244186121,030
At 30 June 23557-557
4.Debtors: amounts due within one year

2024

2023

££
Other debtors249,141
Prepayments and accrued income795730
Total8199,871
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-37
Taxation and social security-15,867
Other creditors6464
Accrued liabilities and deferred income2,557-
Total2,62115,968