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IVY BRIDGE MARINE LIMITED

Registered Number
02281464
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

IVY BRIDGE MARINE LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Roger Louis Farrington

Registered Address

Dark Lane
Bottom Lock
Braunston
NN11 7HJ

Registered Number

02281464 (England and Wales)
IVY BRIDGE MARINE LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,8967,055
5,8967,055
Current assets
Debtors4660572
Cash at bank and on hand15,48113,246
16,14113,818
Creditors amounts falling due within one year5(2,485)(3,041)
Net current assets (liabilities)13,65610,777
Total assets less current liabilities19,55217,832
Provisions for liabilities6(1,474)(1,341)
Net assets18,07816,491
Capital and reserves
Called up share capital22
Profit and loss account18,07616,489
Shareholders' funds18,07816,491
The financial statements were approved and authorised for issue by the Director on 24 May 2025, and are signed on its behalf by:
Roger Louis Farrington
Director
Registered Company No. 02281464
IVY BRIDGE MARINE LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Office Equipment25
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 2326,0086,1003,88135,989
At 30 September 2426,0086,1003,88135,989
Depreciation and impairment
At 01 October 2319,9585,1053,87128,934
Charge for year90824921,159
At 30 September 2420,8665,3543,87330,093
Net book value
At 30 September 245,14274685,896
At 30 September 236,050995107,055
4.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income660572
Total660572
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security909737
Other creditors2921,019
Accrued liabilities and deferred income1,2841,285
Total2,4853,041
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,4741,341
Total1,4741,341