REGISTERED NUMBER: 00985696 (England and Wales)

M. B. MARINE SALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M R M Bleecker

REGISTERED OFFICE:

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

REGISTERED NUMBER:

00985696 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Tangible assets

4

71,475

84,719

CURRENT ASSETS

Stocks

48,057

64,932

Debtors

5

33,759

18,971

Cash at bank

113,889

99,320

195,705

183,223

CREDITORS

Amounts falling due within one year

6

85,687

86,604

NET CURRENT ASSETS

110,018

96,619

TOTAL ASSETS LESS CURRENT LIABILITIES

181,493

181,338

CREDITORS

Amounts falling due after more than one year

7

(13,667

)

(30,824

)

PROVISIONS FOR LIABILITIES

9

(13,580

)

(15,378

)

NET ASSETS

154,246

135,136

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

154,146

135,036

SHAREHOLDERS' FUNDS

154,246

135,136

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

M R M Bleecker - Director

1.	STATUTORY INFORMATION

M. B. Marine Sales 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue is measured at fair value of the consideration received or receivable. Revenue represents commissions from sales of marine chandlery equipment, service and repair of outboard motors and other marine motors net of VAT. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

35,256

29,783

98,235

940

164,214

Additions

2,958

110

2,500

2,941

8,509

Disposals

-

(2,775

)

-

-

(2,775

)

At 31 December 2024

38,214

27,118

100,735

3,881

169,948

DEPRECIATION

At 1 January 2024

29,427

22,500

27,464

104

79,495

Charge for year

1,039

1,108

17,747

1,040

20,934

Eliminated on disposal

-

(1,956

)

-

-

(1,956

)

At 31 December 2024

30,466

21,652

45,211

1,144

98,473

NET BOOK VALUE

At 31 December 2024

7,748

5,466

55,524

2,737

71,475

At 31 December 2023

5,829

7,283

70,771

836

84,719

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

35,369

DEPRECIATION

At 1 January 2024

14,369

Charge for year

5,250

At 31 December 2024

19,619

NET BOOK VALUE

At 31 December 2024

15,750

At 31 December 2023

21,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

26,662

11,183

Other debtors

7,097

7,788

33,759

18,971

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,376

10,060

Hire purchase contracts (see note 8)

6,736

6,736

Trade creditors

54,937

53,316

Taxation and social security

8,802

11,748

Other creditors

4,836

4,744

85,687

86,604

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,247

15,668

Hire purchase contracts (see note 8)

8,420

15,156

13,667

30,824

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

6,736

6,736

Between one and five years

8,420

15,156

15,156

21,892

Non-cancellable

operating leases

2024

2023

£

£

Within one year

14,494

14,210

Between one and five years

36,178

51,685

50,672

65,895

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

13,580

15,378

Deferred

tax

£

Balance at 1 January 2024

15,378

Credit to Income Statement during year

(1,798

)

Balance at 31 December 2024

13,580

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

M R M Bleecker

Balance outstanding at start of year

332

322

Amounts advanced

349

325

Amounts repaid

(943

)

(315

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(262

)

332