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Registered number: 11444360
4 Corners Marine Services Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 July 2024
James Khan
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11444360
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 146,805 193,040
146,805 193,040
CURRENT ASSETS
Debtors 102,217 147,888
Cash at bank and in hand 203,586 125,783
305,803 273,671
Creditors: Amounts Falling Due Within One Year (68,546 ) (69,835 )
NET CURRENT ASSETS (LIABILITIES) 237,257 203,836
TOTAL ASSETS LESS CURRENT LIABILITIES 384,062 396,876
Creditors: Amounts Falling Due After More Than One Year (108,027 ) (144,303 )
NET ASSETS 276,035 252,573
CAPITAL AND RESERVES
Called up share capital 6 106 100
Profit and Loss Account 275,929 252,473
SHAREHOLDERS' FUNDS 276,035 252,573
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For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr John Rebhan
Director
Mr Joel Reddin
Director
Mr Paul Robbins
Director
11/03/2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
4 Corners Marine Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11444360 . The registered office is The Embassy, 389 Newport Road, Cardiff, CF24 1TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
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4. Tangible Assets
Total
£
Cost
As at 1 August 2023 262,061
Additions 2,721
As at 31 July 2024 264,782
Depreciation
As at 1 August 2023 69,021
Provided during the period 48,956
As at 31 July 2024 117,977
Net Book Value
As at 31 July 2024 146,805
As at 1 August 2023 193,040
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,113 13,112
Later than one year and not later than five years 64,010 77,123
77,123 90,235
77,123 90,235
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 106 100
7. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr John Rebhan (2,480 ) (24,851 ) 27,385 - 54
Mr Joel Reddin (2,530 ) (21,918 ) 24,500 - 52
Mr Paul Robbins (2,530 ) (21,412 ) 23,995 - 53
The above loans are unsecured, interest free and repayable on demand.
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