REGISTERED NUMBER: 05046394 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

S.R.M. MARINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S Miller

SECRETARY:

Miss R J Gambles

REGISTERED OFFICE:

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

REGISTERED NUMBER:

05046394 (England and Wales)

ACCOUNTANTS:

Graham Martin & Co

Accountants

89 Leigh Road

Eastleigh

Hampshire

SO50 9DQ

FIXED ASSETS

Intangible assets

4

-

1,750

Tangible assets

5

40,778

47,184

40,778

48,934

CURRENT ASSETS

Stocks

366

318

Debtors

6

75,503

29,151

Cash at bank

23,864

94,120

99,733

123,589

CREDITORS

Amounts falling due within one year

7

64,086

61,682

NET CURRENT ASSETS

35,647

61,907

TOTAL ASSETS LESS CURRENT LIABILITIES

76,425

110,841

CREDITORS

Amounts falling due after more than one year

8

(17,581

)

(32,963

)

PROVISIONS FOR LIABILITIES

(6,244

)

(4,961

)

NET ASSETS

52,600

72,917

CAPITAL AND RESERVES

Called up share capital

125

125

Retained earnings

52,475

72,792

SHAREHOLDERS' FUNDS

52,600

72,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th September 2025 and were signed by:

Mr S Miller - Director

1.	STATUTORY INFORMATION

S.R.M. Marine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in April 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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 tax 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 differences 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

40,000

AMORTISATION

At 1st January 2024

38,250

Charge for year

1,750

At 31st December 2024

40,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

1,750

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

88,372

Additions

11,759

Disposals

(23,296

)

At 31st December 2024

76,835

DEPRECIATION

At 1st January 2024

41,188

Charge for year

13,594

Eliminated on disposal

(18,725

)

At 31st December 2024

36,057

NET BOOK VALUE

At 31st December 2024

40,778

At 31st December 2023

47,184

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

44,554

25,999

Other debtors

30,949

3,152

75,503

29,151

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

5,258

4,974

Trade creditors

16,737

15,906

Taxation and social security

8,113

6,931

Other creditors

23,978

23,871

64,086

61,682

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,655

15,779

Hire purchase contracts

11,926

17,184

17,581

32,963

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

£

Mr S Miller

Balance outstanding at start of year

16,453

7,191

Amounts advanced

41,482

61,159

Amounts repaid

(39,532

)

(51,897

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,403

16,453

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Miller.