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REGISTERED NUMBER: 13963679 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOUTH WEST UK MARINE SALES LTD

SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH WEST UK MARINE SALES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Mr S White
Mr M H Smith



REGISTERED OFFICE: Unit 6 Prince William Quay
Brixham Marina
Brixham
Devon
TQ5 9BW



REGISTERED NUMBER: 13963679 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: NatWest
28 Fore Street
Brixham
Devon
TQ5 8AZ

SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 8,500 9,000
Tangible assets 5 13,056 819
21,556 9,819

CURRENT ASSETS
Stocks 6 - 176,559
Debtors 7 363,722 55,615
Cash at bank 77,586 147,276
441,308 379,450
CREDITORS
Amounts falling due within one year 8 433,308 295,812
NET CURRENT ASSETS 8,000 83,638
TOTAL ASSETS LESS CURRENT LIABILITIES 29,556 93,457

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 29,436 93,337
SHAREHOLDERS' FUNDS 29,556 93,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

BALANCE SHEET - continued
31 MARCH 2025


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:




Mr S White - Director



Mr M H Smith - Director


SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

South West UK Marine Sales Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 10,000
AMORTISATION
At 1 April 2024 1,000
Amortisation for year 500
At 31 March 2025 1,500
NET BOOK VALUE
At 31 March 2025 8,500
At 31 March 2024 9,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024 1 1 1,090 1,092
Additions 15,500 - - 15,500
At 31 March 2025 15,501 1 1,090 16,592
DEPRECIATION
At 1 April 2024 - - 273 273
Charge for year 3,100 - 163 3,263
At 31 March 2025 3,100 - 436 3,536
NET BOOK VALUE
At 31 March 2025 12,401 1 654 13,056
At 31 March 2024 1 1 817 819

SOUTH WEST UK MARINE SALES LTD (REGISTERED NUMBER: 13963679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


6. STOCKS
2025 2024
£    £   
Stocks - 176,559

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 11,401 16,274
Other debtors 346,531 38,449
Tax 5,101 -
Prepayments 689 892
363,722 55,615

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other loans 270,433 115,779
Trade creditors 12,108 4,207
Tax 1,206 38,866
Social security and other taxes (1,750 ) -
VAT 34,847 34,792
Other creditors 28,023 224
Directors' current accounts 80,114 83,539
Accrued expenses 8,327 18,405
433,308 295,812

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
Mr S White
Balance outstanding at start of year (26,758 ) 6,520
Amounts advanced 31,055 46,738
Amounts repaid (22,496 ) (80,016 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,199 ) (26,758 )

Mr M H Smith
Balance outstanding at start of year (56,781 ) (31,866 )
Amounts advanced 16,000 26,090
Amounts repaid (21,135 ) (51,005 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (61,916 ) (56,781 )

Loan are unsecured and repayable on demand. Interest is charged at 10% in the year on credit balances.