Company Registration No. 12149954 (England and Wales)
Just Marine Aquatics Ltd
Unaudited accounts
for the year ended 31 August 2024
Just Marine Aquatics Ltd
Unaudited accounts
Contents
Just Marine Aquatics Ltd
Company Information
for the year ended 31 August 2024
Company Number
12149954 (England and Wales)
Registered Office
5K Longcasueway
Farnworth
BOLTON
BL4 9BS
ENGLAND
Just Marine Aquatics Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
37,965
53,485
Inventories
108,000
88,000
Cash at bank and in hand
812
6,871
Creditors: amounts falling due within one year
(189,337)
(94,770)
Net current (liabilities)/assets
(80,525)
101
Total assets less current liabilities
(42,560)
53,586
Creditors: amounts falling due after more than one year
(104,348)
(128,866)
Net liabilities
(146,908)
(75,280)
Called up share capital
100
100
Profit and loss account
(147,008)
(75,380)
Shareholders' funds
(146,908)
(75,280)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 August 2025 and were signed on its behalf by
Lee Fletcher
Director
Company Registration No. 12149954
Just Marine Aquatics Ltd
Notes to the Accounts
for the year ended 31 August 2024
Just Marine Aquatics Ltd is a private company, limited by shares, registered in England and Wales, registration number 12149954. The registered office is 5K Longcasueway, Farnworth, BOLTON, BL4 9BS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
20%
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Just Marine Aquatics Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
6,950
35,117
39,576
6,316
87,959
Additions
11,178
-
4,877
-
16,055
Disposals
-
-
(4,920)
(809)
(5,729)
At 31 August 2024
18,128
35,117
39,533
5,507
98,285
At 1 September 2023
1,797
8,779
20,994
2,904
34,474
Charge for the year
4,118
8,779
10,622
2,798
26,317
On disposals
-
-
(212)
(259)
(471)
At 31 August 2024
5,915
17,558
31,404
5,443
60,320
At 31 August 2024
12,213
17,559
8,129
64
37,965
At 31 August 2023
5,153
26,338
18,582
3,412
53,485
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
38
313
Other creditors
55,987
51,833
Loans from directors
128,712
37,472
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
25,520
29,233
Other creditors
50,821
71,628
The company took out a Bounce Back Loan in May 2020 for £12,000 repayable over 6 years. A further advance of £20,000 was taken in November 2020. The term was increased to 10 years making the final instalment due 8 May 2030.
On 28 July 2023, the company took hire purchase loan agreement of £29,917.86 repayable over 49 months at 1.9 APR.
Five further loans are outstanding totalling £50,821 taken over various periods with varying interest.
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).