REGISTERED NUMBER: 01447628 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

MARY ROSE TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Duncan Smith

Dominic Jones

Timothy Rusby

Jason Sexton

Professor Terence Stevens

Aileen Peirce

SECRETARY:

Susan Wright ACMA

REGISTERED OFFICE:

1/10 College Road

H M Naval Base

Portsmouth

Hampshire

PO1 3LX

REGISTERED NUMBER:

01447628 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kerry Lawrance FCA

AUDITORS:

Compass Accountants Limited

Chartered Accountants and Statutory Auditors

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

BANKERS:

Lloyds Bank PLC

3 Town Quay

Southampton

Hampshire

SO14 2AQ

CURRENT ASSETS

Inventories

5

45,012

62,611

Debtors

6

28,290

29,913

Cash at bank and in hand

159,699

121,174

233,001

213,698

CREDITORS

Amounts falling due within one year

7

232,810

213,507

NET CURRENT ASSETS

191

191

TOTAL ASSETS LESS CURRENT LIABILITIES

191

191

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

189

189

SHAREHOLDERS' FUNDS

191

191

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th October 2025 and were signed on its behalf by:

Duncan Smith - Director

Jason Sexton - Director

1.	STATUTORY INFORMATION

Mary Rose Trading 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

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Stocks

Inventories 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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

Gift aid payment

The company has entered into a Gift Aid arrangement with The Mary Rose Trust whereby the company agrees to pay in each accounting period such a sum as will amount to its net taxable profit for the period.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1st April 2024

and 31st March 2025

17,635

DEPRECIATION

At 1st April 2024

and 31st March 2025

17,635

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	INVENTORIES

2025

2024

£

£

Stocks

45,012

62,611

2025

2024

£

£

Slow moving and obsolete stock

577

1,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,927

19,201

Prepayments and accrued income

8,363

10,712

28,290

29,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

8,898

9,518

Amounts owed to group undertakings

20,591

16,787

Gift aid due payable

183,766

162,413

Other creditors

607

500

Accruals and deferred income

18,948

24,289

232,810

213,507

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kerry Lawrance FCA (Senior Statutory Auditor)

for and on behalf of Compass Accountants Limited

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Mary Rose Trust, whose registered office is the same as that on page 1.