Company Registration No. 10870974 (England and Wales)
Eyemouth Marine Limited
Unaudited accounts
for the year ended 31 December 2024
Eyemouth Marine Limited
Unaudited accounts
Contents
Eyemouth Marine Limited
Company Information
for the year ended 31 December 2024
Company Number
10870974 (England and Wales)
Registered Office
Level One Basecamp Liverpool
49 Jamaica Street
Liverpool
L1 0AH
United Kingdom
Accountants
Graham Reid Accountancy
Industrial Estate
Coldingham Road
Eyemouth
TD14 5AN
Eyemouth Marine Limited
Statement of financial position
as at 31 December 2024
Tangible assets
1,630,754
1,590,854
Cash at bank and in hand
16,564
27,883
Creditors: amounts falling due within one year
(290,390)
(406,563)
Net current liabilities
(171,356)
(290,518)
Total assets less current liabilities
1,459,398
1,300,336
Creditors: amounts falling due after more than one year
(2,959,489)
(2,554,925)
Net liabilities
(1,500,091)
(1,254,589)
Called up share capital
2
2
Profit and loss account
(1,500,093)
(1,254,591)
Shareholders' funds
(1,500,091)
(1,254,589)
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. 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 4 September 2025 and were signed on its behalf by
P J Flockhart
Director
Company Registration No. 10870974
Eyemouth Marine Limited
Notes to the Accounts
for the year ended 31 December 2024
Eyemouth Marine Limited is a private company, limited by shares, registered in England and Wales, registration number 10870974. The registered office is Level One Basecamp Liverpool, 49 Jamaica Street, Liverpool, L1 0AH, United Kingdom.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the provisions of Section 1A 'Small Entities' and the Companies Act 2006.
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.
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.
Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.
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 cost less estimated residual value of each asset over its estimated useful life.
Land & buildings
Nil and 20% RB
Plant & machinery
Nil and 20% RB
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.
Directors' loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Eyemouth Marine Limited
Notes to the Accounts
for the year ended 31 December 2024
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The continued trading of the company is dependent on the future support of the director through his loan account. The director has confirmed that he will continue to support the company throughout the coming year. The accounts have therefore been prepared on the going concern basis.
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
1,347,976
532,928
16,995
22,493
1,920,392
Additions
102,979
15,382
-
3,364
121,725
At 31 December 2024
1,450,955
548,310
16,995
25,857
2,042,117
At 1 January 2024
73,259
242,503
4,948
8,828
329,538
Charge for the year
18,167
58,165
2,410
3,083
81,825
At 31 December 2024
91,426
300,668
7,358
11,911
411,363
At 31 December 2024
1,359,529
247,642
9,637
13,946
1,630,754
At 31 December 2023
1,274,717
290,425
12,047
13,665
1,590,854
Eyemouth Marine Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
22,373
6,746
Other debtors
18,993
10,219
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,400
10,400
Trade creditors
53,095
84,876
Taxes and social security
16,653
10,787
Deferred income
206,151
300,500
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
2,955,567
2,540,867
8
Average number of employees
During the year the average number of employees was 14 (2023: 10).