4r Marine Refurbishment Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12724604

		30 September 2024		31 July 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		13,873

			-		13,873
CURRENT ASSETS
Debtors	5	19,163		57,280
Cash at bank and in hand		158,832		68,152

		177,995		125,432
Creditors: Amounts Falling Due Within One Year	6	(177,895 )		(93,004 )

NET CURRENT ASSETS (LIABILITIES)			100		32,428

TOTAL ASSETS LESS CURRENT LIABILITIES			100		46,301

Creditors: Amounts Falling Due After More Than One Year	7		-		(3,696 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(2,636 )

NET ASSETS			100		39,969

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			-		39,869

SHAREHOLDERS' FUNDS			100		39,969

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4r Marine Refurbishment Ltd

Balance Sheet (continued)

As At 30 September 2024

For the period ending 30 September 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ruel Entac Director	Mr Rolly Garino Director	Mr Richard Genove Director
Mr. Roesholm Serenio Director
29/01/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

4r Marine Refurbishment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12724604 . The registered office is 25 Bishops Road, Newcastle Upon Tyne, Tyne And Wear, NE15 6RX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover 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.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% straight Line method
Motor Vehicles	25% reducing balance method
Computer Equipment	25% reducing balance method

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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4r Marine Refurbishment Ltd

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 30 September 2024

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 7 (2023: 7)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 August 2023	28,768	17,662	2,496	48,926
Disposals	(28,768 )	(17,662 )	(2,496 )	(48,926 )

As at 30 September 2024	-	-	-	-

Depreciation
As at 1 August 2023	27,714	6,689	650	35,053
Disposals	(27,714 )	(6,689 )	(650 )	(35,053 )

As at 30 September 2024	-	-	-	-

Net Book Value
As at 30 September 2024	-	-	-	-

As at 1 August 2023	1,054	10,973	1,846	13,873

5. Debtors

	30 September 2024	31 July 2023
	£	£
Due within one year
Trade debtors	-	38,183
Directors' loan accounts	19,163	19,097

	19,163	57,280

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4r Marine Refurbishment Ltd

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 30 September 2024

6. Creditors: Amounts Falling Due Within One Year

	30 September 2024	31 July 2023
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,685
Trade creditors	1	(1 )
Corporation tax	97,647	29,194
VAT	-	15,274
Pension creditor	-	100
Directors' loan accounts	80,247	44,752

	177,895	93,004

7. Creditors: Amounts Falling Due After More Than One Year

	30 September 2024	31 July 2023
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,696

8. Obligations Under Finance Leases and Hire Purchase

	30 September 2024	31 July 2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	3,685
Later than one year and not later than five years	-	3,696

	-	7,381

	-	7,381

9. Share Capital

	30 September 2024	31 July 2023
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 August 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2024
	£	£	£	£	£
Mr Ruel Entac	12,303	-	-	-	-
Mr Rolly Garino	4,424	-	-	-	-
Mr Roesholm Serenio	2,371	-	-	-	-

The above loan is unsecured, interest free and repayable on demand.

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