Acorah Software Products - Accounts Production 16.3.350 false true 28 February 2024 1 March 2023 false 29 February 2024 28 February 2025 28 February 2025 02431765 Mr Geoffrey Galer Mr Martin Galer Mr Paul Humphreys Mr Joseph Galer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02431765 2024-02-28 02431765 2025-02-28 02431765 2024-02-29 2025-02-28 02431765 frs-core:CurrentFinancialInstruments 2025-02-28 02431765 frs-core:ComputerEquipment 2025-02-28 02431765 frs-core:ComputerEquipment 2024-02-29 2025-02-28 02431765 frs-core:ComputerEquipment 2024-02-28 02431765 frs-core:FurnitureFittings 2025-02-28 02431765 frs-core:FurnitureFittings 2024-02-29 2025-02-28 02431765 frs-core:FurnitureFittings 2024-02-28 02431765 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-02-28 02431765 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 2025-02-28 02431765 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-28 02431765 frs-core:MotorVehicles 2025-02-28 02431765 frs-core:MotorVehicles 2024-02-29 2025-02-28 02431765 frs-core:MotorVehicles 2024-02-28 02431765 frs-core:PlantMachinery 2025-02-28 02431765 frs-core:PlantMachinery 2024-02-29 2025-02-28 02431765 frs-core:PlantMachinery 2024-02-28 02431765 frs-core:CapitalRedemptionReserve 2025-02-28 02431765 frs-core:SharePremium 2025-02-28 02431765 frs-core:ShareCapital 2025-02-28 02431765 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 2025-02-28 02431765 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 02431765 frs-bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 02431765 frs-bus:FilletedAccounts 2024-02-29 2025-02-28 02431765 frs-bus:SmallEntities 2024-02-29 2025-02-28 02431765 frs-bus:AuditExempt-NoAccountantsReport 2024-02-29 2025-02-28 02431765 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 02431765 frs-bus:Director1 2024-02-29 2025-02-28 02431765 frs-bus:Director2 2024-02-29 2025-02-28 02431765 frs-bus:Director3 2024-02-29 2025-02-28 02431765 frs-bus:Director4 2024-02-29 2025-02-28 02431765 frs-countries:EnglandWales 2024-02-29 2025-02-28 02431765 2023-02-28 02431765 2024-02-28 02431765 2023-03-01 2024-02-28 02431765 frs-core:CurrentFinancialInstruments 2024-02-28 02431765 frs-core:CapitalRedemptionReserve 2023-02-28 02431765 frs-core:CapitalRedemptionReserve 2024-02-28 02431765 frs-core:SharePremium 2023-02-28 02431765 frs-core:SharePremium 2024-02-28 02431765 frs-core:ShareCapital 2023-02-28 02431765 frs-core:ShareCapital 2024-02-28 02431765 frs-core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-28 02431765 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-02-28 02431765 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28
Registered number: 02431765
E.T. Marine & Industrial Engineering Company Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 02431765
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 194,486 174,565
194,486 174,565
CURRENT ASSETS
Debtors 5 370,074 124,018
Cash at bank and in hand 543,826 672,130
913,900 796,148
Creditors: Amounts Falling Due Within One Year 6 (728,921 ) (713,455 )
NET CURRENT ASSETS (LIABILITIES) 184,979 82,693
TOTAL ASSETS LESS CURRENT LIABILITIES 379,465 257,258
PROVISIONS FOR LIABILITIES
Deferred Taxation (45,882 ) (40,539 )
NET ASSETS 333,583 216,719
CAPITAL AND RESERVES
Called up share capital 7 150,000 150,000
Share premium account 1,000 1,000
Capital redemption reserve 4,020 4,020
Profit and Loss Account 178,563 61,699
SHAREHOLDERS' FUNDS 333,583 216,719
Page 1
Page 2
For the year ending 28 February 2025 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.
On behalf of the board
Mr Geoffrey Galer
Director
Mr Joseph Galer
Director
30th April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 March 2023 150,000 1,000 4,020 450,552 605,572
Profit for the year and total comprehensive income - - - 420,147 420,147
Dividends paid - - - (809,000) (809,000)
As at 28 February 2024 and 29 February 2024 150,000 1,000 4,020 61,699 216,719
Profit for the year and total comprehensive income - - - 473,864 473,864
Dividends paid - - - (357,000) (357,000)
As at 28 February 2025 150,000 1,000 4,020 178,563 333,583
Page 3
Page 4
Notes to the Financial Statements
1. General Information
E.T. Marine & Industrial Engineering Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02431765 . The registered office is 46 Hullbridge Road, South Woodham Ferrers, Essex, CM3 5NG.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 Over the term of the lease
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% on cost
Computer Equipment 10% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2024: 22)
22 22
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 29 February 2024 69,974 321,839 127,345 27,903
Additions - 13,421 - 26,376
As at 28 February 2025 69,974 335,260 127,345 54,279
Depreciation
As at 29 February 2024 69,974 221,636 71,862 16,394
Provided during the period - 15,890 13,871 3,707
As at 28 February 2025 69,974 237,526 85,733 20,101
Net Book Value
As at 28 February 2025 - 97,734 41,612 34,178
As at 29 February 2024 - 100,203 55,483 11,509
Computer Equipment Total
£ £
Cost
As at 29 February 2024 37,453 584,514
Additions 14,446 54,243
As at 28 February 2025 51,899 638,757
Depreciation
As at 29 February 2024 30,083 409,949
Provided during the period 854 34,322
As at 28 February 2025 30,937 444,271
Net Book Value
As at 28 February 2025 20,962 194,486
As at 29 February 2024 7,370 174,565
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 351,076 90,312
Amounts recoverable on contracts 8,380 26,275
Prepayments and accrued income 8,618 7,431
Other debtors 2,000 -
370,074 124,018
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 85,239 149,366
Bank loans and overdrafts - 15,566
Corporation tax 141,552 139,227
Other taxes and social security 28,048 25,207
VAT 66,003 33,038
Accruals and deferred income 132,897 37,900
Amounts owed to group undertakings 275,182 313,151
728,921 713,455
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 150,000 150,000
Page 6