Audacious Marine Boats and Mouldings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12347588

AUDACIOUS MARINE BOATS AND MOULDINGS LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

31 December 2024

AUDACIOUS MARINE BOATS AND MOULDINGS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

FIXED ASSETS

Tangible assets	4		26,539	33,173

CURRENT ASSETS

Stocks	43,820	22,890
Debtors	99,762	45,575
Cash at bank and in hand	19,520	41,473
	-----------	-----------
	163,102	109,938

CREDITORS: amounts falling due within one year	175,584		123,539
	-----------		-----------
NET CURRENT LIABILITIES		12,482	13,601
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		14,057	19,572

CREDITORS: amounts falling due after more than one year	100	100
	---------	---------
NET ASSETS	13,957	19,472
	---------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	13,857	19,372
	---------	---------
SHAREHOLDERS FUNDS	13,957	19,472
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

AUDACIOUS MARINE BOATS AND MOULDINGS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mrs J S Cannon
Director

Company registration number: 12347588

AUDACIOUS MARINE BOATS AND MOULDINGS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 High Street, St Lawrence, Ramsgate, Kent, CT11 0QL.

2. ACCOUNTING POLICIES

Basis of Preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	20% reducing balance
Fixtures & fittings	-	20% reducing balance
Motor vehicles	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

4. TANGIBLE ASSETS

	£
Cost
At 1 January 2024 and 31 December 2024	76,249
	---------
Depreciation
At 1 January 2024	43,076
Charge for the year	6,634
	---------
At 31 December 2024	49,710
	---------
Carrying amount
At 31 December 2024	26,539
	---------
At 31 December 2023	33,173
	---------

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J S Cannon	( 8,280)	( 25,058)	( 33,338)
	--------	---------	---------

	2023
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J S Cannon	( 1,525)	( 6,755)	( 8,280)
	--------	--------	--------