Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-29marine engineering2024-01-01false013truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13555230 2024-01-01 2024-12-31 13555230 2023-01-01 2023-12-31 13555230 2024-12-31 13555230 2023-12-31 13555230 c:Director2 2024-01-01 2024-12-31 13555230 d:Buildings 2024-01-01 2024-12-31 13555230 d:Buildings 2024-12-31 13555230 d:Buildings 2023-12-31 13555230 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:PlantMachinery 2024-01-01 2024-12-31 13555230 d:PlantMachinery 2024-12-31 13555230 d:PlantMachinery 2023-12-31 13555230 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:MotorVehicles 2024-01-01 2024-12-31 13555230 d:MotorVehicles 2024-12-31 13555230 d:MotorVehicles 2023-12-31 13555230 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:FurnitureFittings 2024-01-01 2024-12-31 13555230 d:FurnitureFittings 2024-12-31 13555230 d:FurnitureFittings 2023-12-31 13555230 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:OfficeEquipment 2024-01-01 2024-12-31 13555230 d:OfficeEquipment 2024-12-31 13555230 d:OfficeEquipment 2023-12-31 13555230 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13555230 d:Goodwill 2024-12-31 13555230 d:Goodwill 2023-12-31 13555230 d:CurrentFinancialInstruments 2024-12-31 13555230 d:CurrentFinancialInstruments 2023-12-31 13555230 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 13555230 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13555230 d:ShareCapital 2024-12-31 13555230 d:ShareCapital 2023-12-31 13555230 d:RetainedEarningsAccumulatedLosses 2024-12-31 13555230 d:RetainedEarningsAccumulatedLosses 2023-12-31 13555230 c:FRS102 2024-01-01 2024-12-31 13555230 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13555230 c:FullAccounts 2024-01-01 2024-12-31 13555230 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13555230 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 13555230


   







GILLINGHAM MARINE ENGINEERING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
GILLINGHAM MARINE ENGINEERING LTD
REGISTERED NUMBER: 13555230

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 7 
379,123
561,459

  
379,123
561,459

Current assets
  

Stocks
 8 
-
16,191

Debtors: amounts falling due within one year
 9 
41,442
12,331

Cash at bank and in hand
  
3,931
22,148

  
45,373
50,670

Creditors: amounts falling due within one year
 10 
(1,018,363)
(1,043,321)

Net current liabilities
  
 
 
(972,990)
 
 
(992,651)

Total assets less current liabilities
  
(593,867)
(431,192)

  

Net liabilities
  
(593,867)
(431,192)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(593,967)
(431,292)

  
(593,867)
(431,192)


Page 1

 
GILLINGHAM MARINE ENGINEERING LTD
REGISTERED NUMBER: 13555230
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 by: 




M Beckwith
Director

Date: 29 May 2025

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

Page 2

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Gillingham Marine Engineering Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through Director and shareholder
loans. The Directors intend to continue to support the company, will extend further capital as
required by the company and do not intend to withdraw funding. As a result they have adopted the
going concern basis of accounting in the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

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:

Freehold property
-
Not depreciated
Plant and machinery
-
5 Year straight-line
Motor vehicles
-
5 Year straight-line
Fixtures and fittings
-
5 Year straight-line
Office equipment
-
5 Year straight-line

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 4

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the period was 0 (2023 - 13).

Page 5

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
1



At 31 December 2024

1



Amortisation


At 1 January 2024
1



At 31 December 2024

1



Net book value



At 31 December 2024
-



At 31 December 2023
-




6.


Tax losses carried forwards

The company has unused losses for tax to carry forward of £652,916 (2023: £620,840). No deferred tax asset has been recognised in these accounts due to the uncertainty of future revenues.






Page 6

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

7.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 January 2024
370,000
13,280
1,667
309,993
90


Disposals
-
-
-
(190,266)
-



At 31 December 2024

370,000
13,280
1,667
119,727
90



Depreciation


At 1 January 2024
-
4,391
-
129,164
16


Charge for the period on owned assets
-
2,656
333
62,000
16


Disposals
-
-
-
(72,935)
-



At 31 December 2024

-
7,047
333
118,229
32



Net book value



At 31 December 2024
370,000
6,233
1,334
1,498
58



At 31 December 2023
370,000
8,889
1,667
180,829
74
Page 7

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

           7.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2024
695,030


Disposals
(190,266)



At 31 December 2024

504,764



Depreciation


At 1 January 2024
133,571


Charge for the period on owned assets
65,005


Disposals
(72,935)



At 31 December 2024

125,641



Net book value



At 31 December 2024
379,123



At 31 December 2023
561,459


8.


Stocks

2024
2023
£
£

Work in progress
-
16,191

-
16,191


Page 8

 
GILLINGHAM MARINE ENGINEERING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Debtors

2024
2023
£
£


Trade debtors
-
12,331

Amounts owed by group undertakings
41,442
-

41,442
12,331



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
278,119
256,253

Amounts owed to group undertakings
716,060
726,060

Other taxation and social security
1,232
15,140

Other creditors
20,799
19,073

Accruals and deferred income
2,153
26,795

1,018,363
1,043,321



11.


Related party transactions

Included within creditors, in amounts owed to group undertakings is an amount of £679,000 (2023: £679,900) due to Gillingham Marina Holdings Ltd, the parent company. There are also amounts of £36,160 (2023: £36,160) due to Gillingham Marina Management Ltd and £10,000 (2023: £10,000) due to Gillingham Marina Ltd. No interest is charged on these amounts and they are repayable on demand.
Included in Trade Creditors there is an amount due to Gillingham Marina Management Ltd of £278,995 (2023: £249,913). This is a group company.
In other creditors there is a loan due to a director of £19,073 (2023: £19,073). There is interest of 0% charged on this loan and it is repayable on demand.


12.


Controlling party

The ultimate controlling party of the entity is Gary Beckwith, the director.

 
Page 9