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Registration number: 02352181

Dale Marine Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Dale Marine Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Dale Marine Limited

Company Information

Directors

Mr R J Reynolds

Mr M G Reynolds

Registered office

Brunel Quay
Neyland
Milford Haven
Dyfed
SA73 1PY

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Dale Marine Limited

(Registration number: 02352181)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

848,267

876,847

Current assets

 

Debtors

5

69,180

12,318

Investments

6

100

100

Cash at bank and in hand

 

2,165

70,708

 

71,445

83,126

Creditors: Amounts falling due within one year

7

(199,254)

(162,103)

Net current liabilities

 

(127,809)

(78,977)

Total assets less current liabilities

 

720,458

797,870

Creditors: Amounts falling due after more than one year

7

(231,177)

(274,747)

Provisions for liabilities

(58,191)

(63,994)

Net assets

 

431,090

459,129

Capital and reserves

 

Called up share capital

200

200

Retained earnings

430,890

458,929

Shareholders' funds

 

431,090

459,129

 

Dale Marine Limited

(Registration number: 02352181)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:
 

.........................................
Mr R J Reynolds
Company secretary and director

.........................................
Mr M G Reynolds
Director

 
 

Dale Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Brunel Quay
Neyland
Milford Haven
Dyfed
SA73 1PY

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.

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 and deferred 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.

 

Dale Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Fixture and fittings

10% reducing balance

Motor vehicles

10% reducing balance

Plant and machinery

10% reducing balance

Freehold property

not provided

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Dale Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Dale Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

591,046

514,110

1,105,156

At 31 October 2024

591,046

514,110

1,105,156

Depreciation

At 1 November 2023

-

228,309

228,309

Charge for the year

-

28,580

28,580

At 31 October 2024

-

256,889

256,889

Carrying amount

At 31 October 2024

591,046

257,221

848,267

At 31 October 2023

591,046

285,801

876,847

Included within the net book value of land and buildings above is £591,046 (2023 - £591,046) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

69,180

12,318

 

69,180

12,318

6

Current asset investments

2024
£

2023
£

Shares in group undertakings

100

100

 

Dale Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

50,896

50,896

Amounts due to related parties

139,442

67,089

Social security and other taxes

 

8,916

9,226

Other payables

 

-

34,892

 

199,254

162,103

Due after one year

 

Loans and borrowings

8

231,177

274,747

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

231,177

274,747

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

231,177

274,747

Current loans and borrowings

2024
£

2023
£

Bank borrowings

50,896

50,896