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COMPANY REGISTRATION NUMBER: 00436443
Sanderson Marine Craft Limited
Unaudited financial statements
31 March 2024
Sanderson Marine Craft Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
22,533
23,554
Current assets
Stocks
4,000
5,000
Debtors
6
808
728
Cash at bank and in hand
100
30,272
------
-------
4,908
36,000
Creditors: Amounts falling due within one year
7
( 13,307)
( 23,588)
-------
-------
Net current (liabilities)/assets
( 8,399)
12,412
-------
-------
Total assets less current liabilities
14,134
35,966
-------
-------
Net assets
14,134
35,966
-------
-------
Capital and reserves
Called up share capital
2,550
2,550
Profit and loss account
11,584
33,416
-------
-------
Shareholders funds
14,134
35,966
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
C A Sanderson
Director
Company registration number: 00436443
Sanderson Marine Craft Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The company's place of business is Riverside, Reedham, Norwich NR13 3TE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has ceased to trade and steps have been taken to start winding down the business in an orderly fashion. All liabilities are expected to be settled in due course. The company is no longer considered to be a going concern.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Cruisers
-
5% reducing balance
Plant and machinery
-
15% reducing balance
Stocks
Stocks are measured 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.
4. Employee numbers
The average number of employees during the year was 1 (2023: 1 ).
5. Tangible assets
Cruisers
Plant and machinery
Boats under construction
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
67,263
15,869
4,000
87,132
-------
-------
------
-------
Depreciation
At 1 April 2023
48,142
15,436
63,578
Charge for the year
956
65
1,021
-------
-------
------
-------
At 31 March 2024
49,098
15,501
64,599
-------
-------
------
-------
Carrying amount
At 31 March 2024
18,165
368
4,000
22,533
-------
-------
------
-------
At 31 March 2023
19,121
433
4,000
23,554
-------
-------
------
-------
6. Debtors
2024
2023
£
£
Other debtors
808
728
----
----
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
588
Accruals and deferred income
7,950
4,800
Social security and other taxes
10,219
Director loan accounts
4,769
8,569
-------
-------
13,307
23,588
-------
-------