3 3 M5 Marine Limited 09057862 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is principally marine engineering and industrial/commercial repair works Digita Accounts Production Advanced 6.30.9574.0 true 09057862 2023-10-01 2024-09-30 09057862 2024-09-30 09057862 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-09-30 09057862 core:CurrentFinancialInstruments 2024-09-30 09057862 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 09057862 core:FurnitureFittingsToolsEquipment 2024-09-30 09057862 bus:SmallEntities 2023-10-01 2024-09-30 09057862 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 09057862 bus:FilletedAccounts 2023-10-01 2024-09-30 09057862 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 09057862 bus:RegisteredOffice 2023-10-01 2024-09-30 09057862 bus:Director1 2023-10-01 2024-09-30 09057862 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-10-01 2024-09-30 09057862 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09057862 bus:Agent1 2023-10-01 2024-09-30 09057862 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 09057862 core:PlantMachinery 2023-10-01 2024-09-30 09057862 countries:EnglandWales 2023-10-01 2024-09-30 09057862 2023-09-30 09057862 core:FurnitureFittingsToolsEquipment 2023-09-30 09057862 2022-10-01 2023-09-30 09057862 2023-09-30 09057862 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-09-30 09057862 core:CurrentFinancialInstruments 2023-09-30 09057862 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 09057862 core:FurnitureFittingsToolsEquipment 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 09057862

M5 Marine Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

M5 Marine Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

M5 Marine Limited

Company Information

Director

Mr Simon Reader

Registered office

Retreat Boatyard
Retreat Drive
Topsham
Exeter
Devon
EX3 0LS

Accountants

Redwoods
Chartered Certified Accountants2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

M5 Marine Limited

(Registration number: 09057862)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

607

910

Current assets

 

Debtors

5

116,367

68,276

Cash at bank and in hand

 

93,386

85,996

 

209,753

154,272

Creditors: Amounts falling due within one year

6

(255,835)

(141,842)

Net current (liabilities)/assets

 

(46,082)

12,430

Net (liabilities)/assets

 

(45,475)

13,340

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(45,476)

13,339

Shareholders' (deficit)/funds

 

(45,475)

13,340

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 June 2025
 

.........................................
Mr Simon Reader
Director

 

M5 Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Retreat Boatyard
Retreat Drive
Topsham
Exeter
Devon
EX3 0LS

These financial statements were authorised for issue by the director on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in £ sterling and rounded to £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

M5 Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

M5 Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

M5 Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

1,365

1,365

At 30 September 2024

1,365

1,365

Depreciation

At 1 October 2023

455

455

Charge for the year

303

303

At 30 September 2024

758

758

Carrying amount

At 30 September 2024

607

607

At 30 September 2023

910

910

5

Debtors

Current

2024
£

2023
£

Trade debtors

99,724

66,979

Other debtors

16,643

1,297

 

116,367

68,276

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

214,680

18,037

Taxation and social security

484

15,166

Accruals and deferred income

25,477

102,643

Other creditors

15,194

5,996

255,835

141,842

7

Share capital

Allotted, called up and fully paid shares

 

M5 Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1