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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
Page
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Just Marine Aquatics Ltd Company Information for the year ended 31 August 2024
Director
Lee Fletcher
Company Number
12149954 (England and Wales)
Registered Office
5K Longcasueway Farnworth BOLTON BL4 9BS ENGLAND
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Just Marine Aquatics Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
37,965 
53,485 
Current assets
Inventories
108,000 
88,000 
Cash at bank and in hand
812 
6,871 
108,812 
94,871 
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)
Capital and reserves
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
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Just Marine Aquatics Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Motor vehicles
25%
Fixtures & fittings
33%
Computer equipment
33%
Other tangible fixed assets
20%
Inventories
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.
Leased assets
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.
Pension costs
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.
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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 
Depreciation
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 
Net book value
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 
£ 
£ 
VAT
4,253 
479 
Trade creditors
347 
4,673 
Taxes and social security
38 
313 
Other creditors
55,987 
51,833 
Loans from directors
128,712 
37,472 
189,337 
94,770 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
28,007 
28,005 
Obligations under finance leases and hire purchase contracts
25,520 
29,233 
Other creditors
50,821 
71,628 
104,348 
128,866 
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).
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