Company Information
Contents
Director's report
For the year ended 31 December 2024
The director presents his report and the financial statements for Marine Sales UK Limited ('the company') for the year ended 31 December 2024.
The director who served during the year was:
Going concern
The company has ceased trading and the director intends to wind up the company within the next 12 months from the
date of signing the financial statements. Therefore, the accounts have been prepared on a basis other than going concern.
The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Director's report (continued)
For the year ended 31 December 2024
In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the sole director on 30 September 2025 and signed on its behalf by:
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Independent auditor's report to the members of Marine Sales UK Limited
For the year ended 31 December 2024
We have audited the financial statements of Marine Sales UK Limited ('the company') for the year ended 31 December 2024, which comprise the Income statement, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.1 in the financial statements, which explains that the director has indicated his intention to wind down the company and therefore does not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. As explained in note 2.1, the company has ceased trading since the reporting date. The financial statements have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value. The financial statements do not include any provision for the future costs of terminating the business of the company except to the extent that such costs were committed at the reporting date.
Our opinion is not modified in respect of this matter.
Our opinion is not modified in respect of this matter.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Independent auditor's report to the members of Marine Sales UK Limited (continued)
For the year ended 31 December 2024
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Director's report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Independent auditor's report to the members of Marine Sales UK Limited (continued)
For the year ended 31 December 2024
Auditor's responsibilities for the audit of the financnial statements (continued)
How the audit was considered capable of detecting irregularities including fraud
How the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, was as follows:
∙the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we made enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual, suspected and alleged fraud;
∙we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the company through discussions with the director and other management at the planning stage;
∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to misstatement, including with respect to fraud and non-compliance with laws and regulations; and
∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including the Companies Act 2006 and taxation legislation.
We assessed the extent of compliance with the laws and regulations identified above through:
∙making enquiries of management; and
∙considering the internal controls in place that are designed to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙determined the susceptibility of the company to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process; and
∙performed analytical procedures to identify any large, unusual or unexpected transactions and investigated any large variances from the prior period.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included:
included:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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Independent auditor's report to the members of Marine Sales UK Limited (continued)
For the year ended 31 December 2024
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
130 Wood Street
EC2V 6DL
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Income statement
For the year ended 31 December 2024
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Statement of financial position
As at 31 December 2024
The financial statements were approved and authorised for issue by the sole director on 30 September 2025 and were signed on its behalf by:
The notes on pages 9 to 10 form part of these financial statements.
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Notes to the financial statements
For the year ended 31 December 2024
The company is a private company limited by shares and incorporated in England and Wales. Its registered office is 84 Grosvenor Street, London, W1K 3JZ. Its principal place of business is Swanwick Marina, Swanwick, Southampton, Hampshire, SO31 1ZL. The registered number is 06597786.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The company has ceased trading and the director intends to wind up the company within 12 months from
the date of signing the financial statements. Therefore, the accounts have been prepared on a basis other than going concern.
The following accounting poloicies have been applied:
The company has ceased trading and the director intends to wind up the company within 12 months from
the date of signing the financial statements. Therefore, the accounts have been prepared on a basis other than going concern.
The following accounting poloicies have been applied:
The company had no employees, other than the director (2023 - no employees), who did not receive any remuneration (2023 - £nil).
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Notes to the financial statements
For the year ended 31 December 2024
The company had no contingent liabilities at 31 December 2024 or 31 December 2023.
The company had no capital commitments at 31 December 2024 or 31 December 2023.
The smallest group of undertakings for which consolidated group accounts, which include the company, have been drawn up is headed by Hilco London Limited . Hilco London Limited has the same registered office as the company.
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