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REGISTERED NUMBER: 07722462 (England and Wales)












Marine Associates Limited

Unaudited Financial Statements

for the Year Ended 31st May 2024






Marine Associates Limited (Registered number: 07722462)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Marine Associates Limited

Company Information
for the Year Ended 31st May 2024







DIRECTOR: J Fielding





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07722462 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Marine Associates Limited (Registered number: 07722462)

Statement of Financial Position
31st May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 346,400 346,400

CURRENT ASSETS
Debtors 5 151,240 150,660
Cash at bank 241 184
151,481 150,844
CREDITORS
Amounts falling due within one year 6 (400,476 ) (327,217 )
NET CURRENT LIABILITIES (248,995 ) (176,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,405

170,027

CREDITORS
Amounts falling due after more than one
year

7

(40,679

)

(58,666

)
NET ASSETS 56,726 111,361

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 56,626 111,261
SHAREHOLDERS' FUNDS 56,726 111,361

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

Marine Associates Limited (Registered number: 07722462)

Statement of Financial Position - continued
31st May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th June 2025 and were signed by:





J Fielding - Director


Marine Associates Limited (Registered number: 07722462)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Marine Associates Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Marine Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1st June 2023
and 31st May 2024 346,400
NET BOOK VALUE
At 31st May 2024 346,400
At 31st May 2023 346,400

Marine Associates Limited (Registered number: 07722462)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 144,400 144,400
Other debtors 6,840 -
Prepayments - 6,260
151,240 150,660

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 8,000 37,160
Trade creditors 288 7,148
Amounts owed to group undertakings 286,720 196,890
Tax 93,572 74,297
Accrued expenses 1,896 1,722
400,476 327,217

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 13,346 23,333
Other loans 27,333 35,333
40,679 58,666