B.J. MARINE LIMITED

Company Registration Number:
NI021377 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

B.J. MARINE LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Notes

B.J. MARINE LIMITED

Balance sheet

As at 31 August 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 8,115 0
Total fixed assets: 8,115 0
Current assets
Debtors:   27,692 17,808
Cash at bank and in hand: 745,496 665,868
Total current assets: 773,188 683,676
Creditors: amounts falling due within one year:   (357,008) (314,802)
Net current assets (liabilities): 416,180 368,874
Total assets less current liabilities: 424,295 368,874
Creditors: amounts falling due after more than one year:   (132,800) (132,800)
Total net assets (liabilities): 291,495 236,074
Capital and reserves
Called up share capital: 10,000 10,000
Profit and loss account: 281,495 226,074
Shareholders funds: 291,495 236,074

The notes form part of these financial statements

B.J. MARINE LIMITED

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 May 2025
and signed on behalf of the board by:

Name: Bernard Gallagher
Status: Director

The notes form part of these financial statements

B.J. MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings - over 50 years Leasehold land and buildings - over the lease term Plant and machinery - over 4 years Fixtures, fittings, tools and equipment - over 4 years

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Other accounting policies

Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Foreign currency translation Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

B.J. MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

B.J. MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible Assets

Total
Cost £
At 01 September 2023 79,118
Additions 9,500
At 31 August 2024 88,618
Depreciation
At 01 September 2023 79,118
Charge for year 1,385
At 31 August 2024 80,503
Net book value
At 31 August 2024 8,115
At 31 August 2023 0

B.J. MARINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Related party transactions

Name of the related party: BJ Marine Ltd Ireland
Relationship:
BJ Marine, BJ Marine UK, BJ Marine Malta Ltd and BJ Marine Ltd (Ireland) are related companies with common ownership and directors.
Description of the Transaction: Management Fees - 0 Insurance recharge - 11,160 Marketing - 11,764 Boat Shows - 7,862 Parts - 1,686 Totals - 32,472 Included in Cost of Sales are boats purchased from BJ Marine Ltd (Ireland) - 229,883
£
Balance at 01 September 2023 0
Balance at 31 August 2024 0
Name of the related party: BJ Marine Ltd Malta
Relationship:
BJ Marine, BJ Marine UK, BJ Marine Malta Ltd and BJ Marine Ltd (Ireland) are related companies with common ownership and directors.
Description of the Transaction: Management Fees - 19,130
£
Balance at 01 September 2023 0
Balance at 31 August 2024 2,037