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FLAME MARINE LIMITED

Registered Number
06595105
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

FLAME MARINE LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors

J Hodges
D McGeary

Company Secretary

D McGeary

Registered Address

Freshford House
Redcliffe Way
Bristol
BS1 6NL

Registered Number

06595105 (England and Wales)
FLAME MARINE LIMITED
Balance Sheet as at
31 May 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets46,5266,256
6,5266,256
Current assets
Debtors546,61037,031
Cash at bank and on hand74,64279,523
121,252116,554
Creditors amounts falling due within one year6(4,046,126)(4,211,665)
Net current assets (liabilities)(3,924,874)(4,095,111)
Total assets less current liabilities(3,918,348)(4,088,855)
Net assets(3,918,348)(4,088,855)
Capital and reserves
Called up share capital7272
Profit and loss account(3,918,420)(4,088,927)
Shareholders' funds(3,918,348)(4,088,855)
The financial statements were approved and authorised for issue by the Board of Directors on 20 August 2025, and are signed on its behalf by:
J Hodges
Director
Registered Company No. 06595105
FLAME MARINE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20252024
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 246,390,1856,390,185
At 31 May 256,390,1856,390,185
Amortisation and impairment
At 01 June 246,390,1856,390,185
At 31 May 256,390,1856,390,185
Net book value
At 31 May 25--
At 31 May 24--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 2410,69010,690
Additions1,8331,833
At 31 May 2512,52312,523
Depreciation and impairment
At 01 June 244,4344,434
Charge for year1,5631,563
At 31 May 255,9975,997
Net book value
At 31 May 256,5266,526
At 31 May 246,2566,256
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables46,01736,716
Other debtors593315
Total46,61037,031
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables5476
Bank borrowings and overdrafts2,8593,620
Amounts owed to related parties4,040,0124,196,318
Accrued liabilities and deferred income3,25011,251
Total4,046,1264,211,665
7.Share capital
56 Ordinary A shares of £1 nominal value in the year (56 - 2024). 16 Ordinary B shares of £1 nominal value in the year (16 - 2024). The voting rights attached to Ordinary A shares is one vote per share held. Ordinary B shares are not entitled to vote at the meeting of the board of directors.
8.Related party transactions
Amount due owed to Key management is £4,040,012 (£4,196,318 - 2024). This is interest-free and repayable on demand.