Company No: 02256465 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	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

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