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REGISTERED NUMBER: 05975657 (England and Wales)




















Shoreline Marine Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






Shoreline Marine Limited (Registered number: 05975657)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Shoreline Marine Limited

Company Information
for the year ended 31 October 2024







DIRECTOR: Mr J R Mobley





SECRETARY: Mr J R Mobley





REGISTERED OFFICE: 6 Colton Industrial Units
Florida Close
Stoke-On-Trent
ST6 2DT





REGISTERED NUMBER: 05975657 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Shoreline Marine Limited (Registered number: 05975657)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,016 5,173

CURRENT ASSETS
Stocks 84,978 86,001
Debtors 5 10,302 4,596
Cash at bank 157 1,267
95,437 91,864
CREDITORS
Amounts falling due within one year 6 55,489 43,792
NET CURRENT ASSETS 39,948 48,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,964

53,245

CREDITORS
Amounts falling due after more than one
year

7

121,833

115,261
NET LIABILITIES (78,869 ) (62,016 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (78,969 ) (62,116 )
SHAREHOLDERS' FUNDS (78,869 ) (62,016 )

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.

Shoreline Marine Limited (Registered number: 05975657)

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.

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 15 July 2025 and were signed by:





Mr J R Mobley - Director


Shoreline Marine Limited (Registered number: 05975657)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Shoreline Marine 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.

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.

The financial statements are prepared to 31st October each year, and the presentation currency of the financial statements is Pound Sterling (£).

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the 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.

Income recognised on shipment of the product being sold, irrespective of when the money is recieved or invoice physically raised.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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 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.


Shoreline Marine Limited (Registered number: 05975657)

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 24,666 617 2,172 27,455
DEPRECIATION
At 1 November 2023 19,737 389 2,156 22,282
Charge for year 1,987 154 16 2,157
At 31 October 2024 21,724 543 2,172 24,439
NET BOOK VALUE
At 31 October 2024 2,942 74 - 3,016
At 31 October 2023 4,929 228 16 5,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,958 253
Other debtors 5,344 4,343
10,302 4,596

Shoreline Marine Limited (Registered number: 05975657)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,098 17,797
Trade creditors 7,442 2,829
Taxation and social security 3,101 3,412
Other creditors 19,848 19,754
55,489 43,792

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,122 10,194
Other creditors 111,711 105,067
121,833 115,261

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 13,000 13,000
Between one and five years 8,667 21,667
21,667 34,667

9. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity, cash flow interest rate risks. These are limited by the company's financial management policies and practices described below.

Liquidity Risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. This is supplemented by the directors and shareholders making personal funds available where required.

Interest Rate Risk
The company is exposed to interest rate risk due ot the type of borrowing the company uses, but where possible the directors will look for fixed deals to try and hedge this risk as far as possible.

Market Risk
There is a market risk associated with the fluctuation in demand for the products provided. Most of this is mitigated by monitoring the markets, and adapting accordingly, which the company has done and so now specialises in certain niche product ranges.

The company holds no derivative financial instruments at the year end.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

Shoreline Marine Limited (Registered number: 05975657)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

11. RELATED PARTY DISCLOSURES

At the year end the company owed persons with significant control £111,711 (2023 - £105,067). There are no set terms for the repayment of this amount.