Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-302025-05-137The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-12-01falseThe principal activity of the company in the year under review was that of retail sales via mail order houses5truetruefalse 05152483 2023-12-01 2024-11-30 05152483 2022-12-01 2023-11-30 05152483 2024-11-30 05152483 2023-11-30 05152483 c:Director1 2023-12-01 2024-11-30 05152483 d:PlantMachinery 2023-12-01 2024-11-30 05152483 d:PlantMachinery 2024-11-30 05152483 d:PlantMachinery 2023-11-30 05152483 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 05152483 d:MotorVehicles 2023-12-01 2024-11-30 05152483 d:MotorVehicles 2024-11-30 05152483 d:MotorVehicles 2023-11-30 05152483 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 05152483 d:ComputerEquipment 2023-12-01 2024-11-30 05152483 d:ComputerEquipment 2024-11-30 05152483 d:ComputerEquipment 2023-11-30 05152483 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 05152483 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 05152483 d:CurrentFinancialInstruments 2024-11-30 05152483 d:CurrentFinancialInstruments 2023-11-30 05152483 d:Non-currentFinancialInstruments 2024-11-30 05152483 d:Non-currentFinancialInstruments 2023-11-30 05152483 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 05152483 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05152483 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 05152483 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 05152483 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 05152483 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 05152483 d:ShareCapital 2024-11-30 05152483 d:ShareCapital 2023-11-30 05152483 d:RetainedEarningsAccumulatedLosses 2024-11-30 05152483 d:RetainedEarningsAccumulatedLosses 2023-11-30 05152483 c:FRS102 2023-12-01 2024-11-30 05152483 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 05152483 c:FullAccounts 2023-12-01 2024-11-30 05152483 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 05152483 d:WithinOneYear 2024-11-30 05152483 d:WithinOneYear 2023-11-30 05152483 6 2023-12-01 2024-11-30 05152483 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 05152483










THE MARINE WAREHOUSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
THE MARINE WAREHOUSE LIMITED
REGISTERED NUMBER: 05152483

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
120,173
137,688

  
120,173
137,688

Current assets
  

Stocks
  
84,845
86,589

Debtors: amounts falling due within one year
 5 
15,355
21,588

Cash at bank and in hand
  
46,869
54,655

  
147,069
162,832

Creditors: amounts falling due within one year
 6 
(134,241)
(125,122)

Net current assets
  
 
 
12,828
 
 
37,710

Total assets less current liabilities
  
133,001
175,398

Creditors: amounts falling due after more than one year
 7 
(5,000)
(15,000)

Provisions for liabilities
  

Deferred tax
  
(21,845)
(29,589)

  
 
 
(21,845)
 
 
(29,589)

Net assets
  
106,156
130,809


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
106,056
130,709

  
106,156
130,809


Page 1

 
THE MARINE WAREHOUSE LIMITED
REGISTERED NUMBER: 05152483
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2025.




Richard Alan Harvey
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The Marine Warehouse Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05152483 and the registered office address is Unit 2 Fishmarket Quay, Swansea Marina, Swansea, SA1 1UP.

The presentation currency of the financial statements is the Pound Sterling (£) and has been rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

  
2.2

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Page 3

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Going concern

The company has made a profit in the year ended 30 November 2024 and has both net current assets and net assets at the balance sheet date.
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its financial obligations as they fall due. Accordingly, the director continues to adopt the going concern basis in preparing the annual report and accounts.

  
2.4

Turnover and revenue recognition

Turnover represents amounts derived from the provision of retail sales in the United Kingdom, excluding VAT and trade discounts. Revenue is recognised at the point of sale.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.10

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.


3.


Employees

2024
2023
£
£

Wages and salaries
148,294
109,789

Social security costs
6,764
4,119

Cost of defined contribution scheme
70,058
35,972

225,116
149,880


The average monthly number of employees, including directors, during the year was 7 (2023 - 5).

Page 6

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2023
211,733
28,587
12,098
252,418


Additions
22,987
41,287
-
64,274


Disposals
(24,988)
(22,987)
-
(47,975)



At 30 November 2024

209,732
46,887
12,098
268,717



Depreciation


At 1 December 2023
86,347
17,091
11,290
114,728


Charge for the year on owned assets
61,772
7,742
778
70,292


Disposals
(24,984)
(11,493)
-
(36,477)



At 30 November 2024

123,135
13,340
12,068
148,543



Net book value



At 30 November 2024
86,597
33,547
30
120,174



At 30 November 2023
125,386
11,495
808
137,689


5.


Debtors

2024
2023
£
£


Trade debtors
14,599
10,887

Other debtors
-
10,004

Prepayments and accrued income
756
697

15,355
21,588


Page 7

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
47,062
54,829

Other taxation and social security
10,686
15,603

Other creditors
62,997
41,432

Accruals and deferred income
3,496
3,258

134,241
125,122



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,000
15,000

5,000
15,000



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
5,000
15,000


5,000
15,000


15,000
25,000


Page 8

 
THE MARINE WAREHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
12,500
12,500

12,500
12,500

 
Page 9