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Company No: 02256465 (England and Wales)

# JENKINS MARINE LTD

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

JENKINS MARINE LTD

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

JENKINS MARINE LTD

## BALANCE SHEET

As at 30 April 2025
JENKINS MARINE LTD

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 4,418,559 |  | 4,793,640
|  | 4,418,559 |  | 4,793,640
Current assets |  |  |  |
Stocks | 4 | 25,000 |  | 25,000
Debtors | 5 | 736,505 |  | 759,279
Cash at bank and in hand |  | 387,361 |  | 148,155
|  | 1,148,866 |  | 932,434
Creditors: amounts falling due within one year | 6 | ( 1,106,555) |  | ( 821,784)
Net current assets |  | 42,311 |  | 110,650
Total assets less current liabilities |  | 4,460,870 |  | 4,904,290
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 762,000)
Provision for liabilities |  | ( 842,293) |  | ( 870,178)
Net assets |  | 3,618,577 |  | 3,272,112
Capital and reserves |  |  |  |
Called-up share capital | 8 | 300 |  | 300
Profit and loss account |  | 3,618,277 |  | 3,271,812
Total shareholder's funds |  | 3,618,577 |  | 3,272,112

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Jenkins Marine Ltd (registered number: 02256465) were approved and authorised for issue by the Board of Directors on 05 November 2025. They were signed on its behalf by:

D Jenkins Director |

JENKINS MARINE LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
JENKINS MARINE LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Jenkins Marine Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office Container New Harbour Road West, Hamworthy, Poole, BH15 4AJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings | 10 years straight line
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance
Office equipment | 25 % reducing balance
Other property, plant and equipment | 5 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 38 |  | 36

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 96,560 |  | 465,642 |  | 32,397 |  | 78,822 |  | 8,980 |  | 7,527,516 |  | 8,209,917
Additions | 0 |  | 0 |  | 0 |  | 0 |  | 419 |  | 0 |  | 419
Disposals | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 660,000) |  | ( 660,000)
At 30 April 2025 | 96,560 |  | 465,642 |  | 32,397 |  | 78,822 |  | 9,399 |  | 6,867,516 |  | 7,550,336
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 96,560 |  | 275,803 |  | 25,325 |  | 76,791 |  | 5,570 |  | 2,936,228 |  | 3,416,277
Charge for the financial year | 0 |  | 47,632 |  | 1,767 |  | 507 |  | 901 |  | 225,864 |  | 276,671
Disposals | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | ( 561,171) |  | ( 561,171)
At 30 April 2025 | 96,560 |  | 323,435 |  | 27,092 |  | 77,298 |  | 6,471 |  | 2,600,921 |  | 3,131,777
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 30 April 2025 | 0 |  | 142,207 |  | 5,305 |  | 1,524 |  | 2,928 |  | 4,266,595 |  | 4,418,559
At 30 April 2024 | 0 |  | 189,839 |  | 7,072 |  | 2,031 |  | 3,410 |  | 4,591,288 |  | 4,793,640

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 25,000 |  | 25,000

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 448,532 |  | 422,033
Amounts owed by Parent undertakings | 153,603 |  | 153,603
Other debtors | 134,370 |  | 183,643
| 736,505 |  | 759,279

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 208,123 |  | 193,839
Amounts owed to Group undertakings | 220,000 |  | 220,000
Taxation and social security | 267,626 |  | 50,103
Obligations under finance leases and hire purchase contracts (secured) | 0 |  | 72,000
Other creditors | 410,806 |  | 285,842
| 1,106,555 |  | 821,784

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 0 |  | 762,000

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary A shares of £ 1.00 each | 100 |  | 100
100 Ordinary B shares of £ 1.00 each | 100 |  | 100
100 Ordinary C shares of £ 1.00 each | 100 |  | 100
| 300 |  | 300

#### 9. Ultimate controlling party

Parent Company:

Jenkins Marine Holdings Ltd