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Company Registration No. 12122539 (England and Wales)
CITRINE MARINE SERVICES LTD Unaudited accounts for the year ended 31 July 2024
CITRINE MARINE SERVICES LTD Unaudited accounts Contents
Page
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CITRINE MARINE SERVICES LTD Company Information for the year ended 31 July 2024
Directors
Totyu Gyurov VASILEV Gergana Mateeva VASILEVA
Company Number
12122539 (England and Wales)
Registered Office
13 Curton Close, Edgware HA8 8GR
Accountants
VSCT Tax Consultancy Ltd Chartered Certified Accountants and Tax Advisers 406 Brighton Road South Croydon CR2 6AN
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CITRINE MARINE SERVICES LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
49,302 
65,020 
Current assets
Debtors
362 
- 
Cash at bank and in hand
569,048 
340,108 
569,410 
340,108 
Creditors: amounts falling due within one year
(123,485)
(63,704)
Net current assets
445,925 
276,404 
Total assets less current liabilities
495,227 
341,424 
Creditors: amounts falling due after more than one year
(29,144)
(33,010)
Net assets
466,083 
308,414 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
466,082 
308,413 
Shareholders' funds
466,083 
308,414 
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by
Totyu Gyurov VASILEV Director Company Registration No. 12122539
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CITRINE MARINE SERVICES LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
CITRINE MARINE SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 12122539. The registered office is 13 Curton Close,, Edgware, HA8 8GR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Motor vehicles
20% on cost
Computer equipment
25% on cost
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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CITRINE MARINE SERVICES LTD Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
44,384 
72,414 
4,000 
13,063 
133,861 
At 31 July 2024
44,384 
72,414 
4,000 
13,063 
133,861 
Depreciation
At 1 August 2023
30,868 
29,776 
1,000 
7,197 
68,841 
Charge for the year
11,126 
1,854 
- 
2,738 
15,718 
At 31 July 2024
41,994 
31,630 
1,000 
9,935 
84,559 
Net book value
At 31 July 2024
2,390 
40,784 
3,000 
3,128 
49,302 
At 31 July 2023
13,516 
42,638 
3,000 
5,866 
65,020 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
308 
- 
Other debtors
54 
- 
362 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
400 
Obligations under finance leases and hire purchase contracts
3,941 
3,941 
Taxes and social security
118,644 
58,463 
Accruals
900 
900 
123,485 
63,704 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
29,144 
33,010 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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