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Company No: 01022626 (England and Wales)

# ELLIS-FROST MARINE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ELLIS-FROST MARINE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ELLIS-FROST MARINE LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
ELLIS-FROST MARINE LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 324,268 |  | 327,961
|  | 324,268 |  | 327,961
Current assets |  |  |  |
Debtors | 4 | 11,289 |  | 17,985
Cash at bank and in hand |  | 81,831 |  | 121,615
|  | 93,120 |  | 139,600
Creditors: amounts falling due within one year | 5 | ( 64,508) |  | ( 108,750)
Net current assets |  | 28,612 |  | 30,850
Total assets less current liabilities |  | 352,880 |  | 358,811
Provision for liabilities | 6 | ( 667) |  | ( 2,092)
Net assets |  | 352,213 |  | 356,719
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 352,113 |  | 356,619
Total shareholder's funds |  | 352,213 |  | 356,719

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

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Ellis-Frost Marine Limited (registered number: 01022626) were approved and authorised for issue by the Director. They were signed on its behalf by:

Ms C E King Director |

27 August 2025

ELLIS-FROST MARINE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ELLIS-FROST MARINE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Ellis-Frost Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Pinewood Drive, Horning, Norwich, NR12 8LZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 20 % reducing balance
Fixtures and fittings | 20 % reducing balance
Office equipment | 30 % reducing balance
Other property, plant and equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest 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.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 6 |  | 4

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Fixtures and fittings |  | Office equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 January 2024 | 307,011 |  | 4,096 |  | 70,808 |  | 12,613 |  | 21,117 |  | 415,645
Additions | 0 |  | 0 |  | 888 |  | 0 |  | 0 |  | 888
At 31 December 2024 | 307,011 |  | 4,096 |  | 71,696 |  | 12,613 |  | 21,117 |  | 416,533
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 January 2024 | 0 |  | 2,673 |  | 55,619 |  | 9,916 |  | 19,476 |  | 87,684
Charge for the financial year | 0 |  | 285 |  | 3,158 |  | 810 |  | 328 |  | 4,581
At 31 December 2024 | 0 |  | 2,958 |  | 58,777 |  | 10,726 |  | 19,804 |  | 92,265
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 December 2024 | 307,011 |  | 1,138 |  | 12,919 |  | 1,887 |  | 1,313 |  | 324,268
At 31 December 2023 | 307,011 |  | 1,423 |  | 15,189 |  | 2,697 |  | 1,641 |  | 327,961

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Prepayments | 5,152 |  | 4,939
Other debtors | 6,137 |  | 13,046
| 11,289 |  | 17,985

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 1,905 |  | 3,610
Accruals and deferred income | 23,607 |  | 46,689
Other taxation and social security | 1,730 |  | 5,185
Other creditors | 37,266 |  | 53,266
| 64,508 |  | 108,750

#### 6. Deferred tax

| 2024 |  | 2023
| £ |  | £
At the beginning of financial year | ( 2,092) |  | ( 5,447)
Credited to the Income Statement | 1,425 |  | 3,355
At the end of financial year | ( 667) |  | ( 2,092)

The deferred taxation balance is made up as follows:

| 2024 |  | 2023
| £ |  | £
Accelerated capital allowances | ( 4,100) |  | ( 4,966)
Pension Surplus | 0 |  | 57
Losses and other deductions | 3,433 |  | 2,817
| ( 667) |  | ( 2,092)

#### 7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2024 |  | 2023
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 0 |  | 579