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REGISTERED NUMBER: 04306860












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

NORFOLK MARINE (CHANDLERS) LIMITED

NORFOLK MARINE (CHANDLERS) LIMITED (REGISTERED NUMBER: 04306860)

ABRIDGED BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 56,609 65,782
56,609 65,782

CURRENT ASSETS
Stocks 600,297 623,731
Debtors 48,261 41,688
Cash in hand 9,029 1,747
657,587 667,166
CREDITORS
Amounts falling due within one year 287,325 189,276
NET CURRENT ASSETS 370,262 477,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

426,871

543,672

PROVISIONS FOR LIABILITIES - 5,217
NET ASSETS 426,871 538,455

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 426,841 538,425
SHAREHOLDERS' FUNDS 426,871 538,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NORFOLK MARINE (CHANDLERS) LIMITED (REGISTERED NUMBER: 04306860)

ABRIDGED BALANCE SHEET - continued
31 October 2024


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

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 June 2025 and were signed by:





A Jobson - Director


NORFOLK MARINE (CHANDLERS) LIMITED (REGISTERED NUMBER: 04306860)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Norfolk Marine (Chandlers) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is 30A Elm Hill, Norwich, Norfolk, NR3 1HG.

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 represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill is written off to the profit and loss account over 10 years being its estimated economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants capital outlay - 2% on cost
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


NORFOLK MARINE (CHANDLERS) LIMITED (REGISTERED NUMBER: 04306860)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Basis of trading
Some purchases of goods by the company are made on the terms that legal ownership shall not pass until payment. The financial statements have been drawn up on the basis that such ownership will be established in the normal course of trading.

Foreign currency amounts
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences ate taken into account in arriving at the operating profit.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 200,000
AMORTISATION
At 1 November 2023
and 31 October 2024 200,000
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 -

NORFOLK MARINE (CHANDLERS) LIMITED (REGISTERED NUMBER: 04306860)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 228,333
Additions 1,481
At 31 October 2024 229,814
DEPRECIATION
At 1 November 2023 162,551
Charge for year 10,654
At 31 October 2024 173,205
NET BOOK VALUE
At 31 October 2024 56,609
At 31 October 2023 65,782

6. SECURED DEBTS

The company bankers hold a debenture dated 30 January 2002 over the assets of the company.