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Registration number: 06379057

Ely Marine (Property) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Ely Marine (Property) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ely Marine (Property) Limited

Company Information

Director

Mr Jeremy Martin Tyrrell

Company secretary

Mr Michael Jonathan Tyrrell

Registered office

Cathedral Marina
Waterside
Ely
Cambridgeshire
CB7 4AU

Accountants

Tayabali & White 5 High Green
Great Shelford
Cambridge
CB22 5EG

 

Ely Marine (Property) Limited

(Registration number: 06379057)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,629,967

2,629,967

Current assets

 

Debtors

5

542,480

464,131

Creditors: Amounts falling due within one year

6

(1,172,446)

(1,094,097)

Net current liabilities

 

(629,966)

(629,966)

Total assets less current liabilities

 

2,000,001

2,000,001

Creditors: Amounts falling due after more than one year

6

(2,000,000)

(2,000,000)

Net assets

 

1

1

Capital and reserves

 

Called up share capital

7

1

1

Shareholders' funds

 

1

1

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 

.........................................
Mr Jeremy Martin Tyrrell
Director

 

Ely Marine (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company's registered number is 06379057.

The address of its registered office is:
Cathedral Marina
Waterside
Ely
Cambridgeshire
CB7 4AU

These financial statements were authorised for issue by the director on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ely Marine (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Not depreciated

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Ely Marine (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2023

2,629,967

2,629,967

At 31 October 2024

2,629,967

2,629,967

Depreciation

Carrying amount

At 31 October 2024

2,629,967

2,629,967

At 31 October 2023

2,629,967

2,629,967

Included within the net book value of land and buildings above is £2,629,967 (2023 - £2,629,967) in respect of freehold land and buildings.
 

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

542,480

464,131

   

542,480

464,131

 

Ely Marine (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

453,913

453,913

Amounts due to related parties

718,533

640,184

1,172,446

1,094,097

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other financial liabilities

2,000,000

2,000,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Related party transactions

 

Ely Marine (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Other transactions with the director

The director's loan account balance of £453,913 (2023 £453,913) is due in more than one year with no interest charged.