International Marine Holdings Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 00744776

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		504,818		513,850
Investments	6		3,824		3,824

			508,642		517,674
CURRENT ASSETS
Debtors	7	684,409		652,072
Cash at bank and in hand		-		5,124

		684,409		657,196
Creditors: Amounts Falling Due Within One Year	8	(143,906 )		(137,506 )

NET CURRENT ASSETS (LIABILITIES)			540,503		519,690

TOTAL ASSETS LESS CURRENT LIABILITIES			1,049,145		1,037,364

Creditors: Amounts Falling Due After More Than One Year	9		(1,090,918 )		(1,029,654 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(29,695 )		(23,346 )

NET LIABILITIES			(71,468 )		(15,636 )

CAPITAL AND RESERVES
Called up share capital	11		99,802		99,802
Revaluation reserve	13		122,541		122,541
Profit and Loss Account			(293,811 )		(237,979 )

SHAREHOLDERS' FUNDS			(71,468)		(15,636)

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International Marine Holdings Limited

Balance Sheet (continued)

As At 30 September 2024

For the year 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 Tim Alderson

Director

29/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

International Marine Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00744776 . The registered office is 1 & 2 Studley Court Mews Studley Court, Guildford Road, Chobham, GU24 8EB.

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.

As shown in note 7 the company has provided loans to its subsidiaries of £327,500, but at the balance sheet date these loans would not be fully recoverable as those company's balance sheets show significant net liabilities. These losses exceed the shareholders funds of this parent company. The group is supported by a loan from the shareholder of £413,241 and he has confirmed his intention to support the group for the forseeable future. The financial statements have therefore been prepared on the going concern basis.

The company is in an ongoing dispute with its Landlord regarding an asbestos issue at the factory premises occupied by its subsidiary RWO (Marine Equipment) Limited. These financial statements have been prepared to fulfil the company's filing obligation at Companies House and are subject to any revisions that maybe necessary relating to that dispute.

2.2. 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:

Freehold	Revaluation
Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	20% straight line

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. 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.

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 year, 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 year was: 2 (2023: 2)

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International Marine Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 October 2023	735

As at 30 September 2024	735

Amortisation
As at 1 October 2023	735

As at 30 September 2024	735

Net Book Value
As at 30 September 2024	-

As at 1 October 2023	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 October 2023	450,000	943,864	10,170	52,242
Additions	-	1,004	-	-

As at 30 September 2024	450,000	944,868	10,170	52,242

Depreciation
As at 1 October 2023	-	885,433	10,079	48,665
Provided during the period	-	8,916	22	536

As at 30 September 2024	-	894,349	10,101	49,201

Net Book Value
As at 30 September 2024	450,000	50,519	69	3,041

As at 1 October 2023	450,000	58,431	91	3,577


	Computer Equipment	Total
	£	£
Cost
As at 1 October 2023	18,263	1,474,539
Additions	-	1,004

As at 30 September 2024	18,263	1,475,543

Depreciation
As at 1 October 2023	16,512	960,689
Provided during the period	562	10,036

As at 30 September 2024	17,074	970,725

...CONTINUED

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International Marine Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

Net Book Value
As at 30 September 2024	1,189	504,818

As at 1 October 2023	1,751	513,850

6. Investments

	Other
	£
Cost
As at 1 October 2023	3,824

As at 30 September 2024	3,824

Provision
As at 1 October 2023	-

As at 30 September 2024	-

Net Book Value
As at 30 September 2024	3,824

As at 1 October 2023	3,824

7. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	6,504	6,504
Asbestos repairs	207,186	198,402
VAT	143,219	119,666
Amounts owed by group undertakings	327,500	327,500

	684,409	652,072

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	36,416	35,526
Bank loans and overdrafts	68,561	67,599
Corporation tax	10,255	15,296
Other creditors	-	7,500
Accruals and deferred income	28,674	11,585

	143,906	137,506

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

	2024	2023
	£	£
Bank loans	66,880	96,247
Other creditors	1,024,038	530,152
Directors loan account	-	403,255

	1,090,918	1,029,654

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International Marine Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	29,695	23,346

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	99,802	99,802

12. Contingent Liabilities

The company is currently in dispute with their former accountant over fees owed. The final liability has not been decided or settled.

13. Reserves

	Revaluation Reserve
	£
As at 1 October 2023	122,541

As at 30 September 2024	122,541

	Retained Reserves £
As at 1 October 2023	(237,979)
Loss for the year	(55,832)
As at 30 September 2024	(293,811)

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