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REGISTERED NUMBER: 01884348 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WAKE MARINE LIMITED

WAKE MARINE LIMITED (REGISTERED NUMBER: 01884348)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WAKE MARINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Lavallin
D Barclay





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





BUSINESS ADDRESS: Quay House
Town Quay
River Road
Arundel
West Sussex
BN18 9DF





REGISTERED NUMBER: 01884348 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

WAKE MARINE LIMITED (REGISTERED NUMBER: 01884348)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,654 4,439

CURRENT ASSETS
Debtors 306,633 273,720
Cash at bank 491,028 644,958
797,661 918,678
CREDITORS
Amounts falling due within one year 236,954 281,356
NET CURRENT ASSETS 560,707 637,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,361

641,761

CREDITORS
Amounts falling due after more than one
year

(53,334

)

(93,333

)

PROVISIONS FOR LIABILITIES 7 (1,664 ) (1,110 )
NET ASSETS 512,363 547,318

CAPITAL AND RESERVES
Called up share capital 1,206 1,206
Share premium 9,794 9,794
Retained earnings 501,363 536,318
SHAREHOLDERS' FUNDS 512,363 547,318

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WAKE MARINE LIMITED (REGISTERED NUMBER: 01884348)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





S J Lavallin - Director


WAKE MARINE LIMITED (REGISTERED NUMBER: 01884348)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Wake 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.

Turnover
Turnover represents amounts receivable for international freight services net of VAT.

Revenue from the sale of services is recognised by reference to the stage of completion and when the costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture,fittings & equipment - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

WAKE MARINE LIMITED (REGISTERED NUMBER: 01884348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 26,945
Additions 4,206
At 31 March 2024 31,151
DEPRECIATION
At 1 April 2023 22,506
Charge for year 1,991
At 31 March 2024 24,497
NET BOOK VALUE
At 31 March 2024 6,654
At 31 March 2023 4,439

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 49,752 27,114
Between one and five years 68,816 42,492
118,568 69,606

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 1,084 -
Bank loans 93,334 133,333
94,418 133,333

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,664 1,110

Deferred
tax
£   
Balance at 1 April 2023 1,110
Charge to Income Statement during year 554
Balance at 31 March 2024 1,664