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COMPANY REGISTRATION NUMBER: NI610324

Inland and Coastal Marina Systems UK Ltd

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Inland and Coastal Marina Systems UK Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 79,014 | 89,208

Current assets

Debtors | 6 | 913,274 |  | 532,799
Cash at bank and in hand | 279,482 |  | 514,806
| ------------ |  | ------------
| 1,192,756 |  | 1,047,605

Creditors: amounts falling due within one year | 7 | 666,425 |  | 520,686
| ------------ |  | ------------
Net current assets |  | 526,331 | 526,919
|  | --------- | ---------
Total assets less current liabilities |  | 605,345 | 616,127
|  | --------- | ---------
Net assets |  | 605,345 | 616,127
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 1 | 1
Profit and loss account |  | 605,344 | 616,126
|  | --------- | ---------
Shareholders funds |  | 605,345 | 616,127
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Inland and Coastal Marina Systems UK Ltd

Statement of Financial Position (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

Mr O Shortall |
Director |

Company registration number: NI610324

Inland and Coastal Marina Systems UK Ltd

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 6b Upper Water Street, Newry, Co. Down, BT34 1DJ, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and Machinery | - | 12% reducing balance
| Motor Vehicles | - | 20% reducing balance
| Office Equipment | - | 12% reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).
5. Tangible assets

| Plant and machinery | Motor vehicles | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 January 2024 | 55,354 | 60,834 | 5,318 | 121,506
Additions | – | – | 4,629 | 4,629
| -------- | -------- | ------- | ---------
At 31 December 2024 | 55,354 | 60,834 | 9,947 | 126,135
| -------- | -------- | ------- | ---------
Depreciation |  |  |  |
At 1 January 2024 | 10,054 | 19,584 | 2,660 | 32,298
Charge for the year | 5,662 | 8,250 | 911 | 14,823
| -------- | -------- | ------- | ---------
At 31 December 2024 | 15,716 | 27,834 | 3,571 | 47,121
| -------- | -------- | ------- | ---------
Carrying amount |  |  |  |
At 31 December 2024 | 39,638 | 33,000 | 6,376 | 79,014
| -------- | -------- | ------- | ---------
At 31 December 2023 | 45,300 | 41,250 | 2,658 | 89,208
| -------- | -------- | ------- | ---------

6. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 598,103 | 528,492
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 310,408 | –
Other debtors | 4,763 | 4,307
| --------- | ---------
| 913,274 | 532,799
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 3,830 | 4,314
Trade creditors | 79,816 | 149,061
Amounts owed to group undertakings and undertakings in which the company has a participating interest | – | 46,835
Corporation tax | 532 | 56,973
Social security and other taxes | 216,751 | 117,709
Payment received on account | 351,336 | –
Other creditors | 14,160 | 145,794
| --------- | ---------
| 666,425 | 520,686
| --------- | ---------

8. Related party transactions
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.
9. Parent company
The company regards Laurob Holdings Limited as its parent company.
10. Post-balance sheet events
There have been no significant events affecting the company since the financial year-end.