Saxton Marine Supplies Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05178799

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,931		11,502
Investments	5		-		14,897

			10,931		26,399
CURRENT ASSETS
Stocks	6	11,650		12,500
Debtors	7	400,465		359,436
Cash at bank and in hand		189,248		277,258

		601,363		649,194
Creditors: Amounts Falling Due Within One Year	8	(208,333 )		(207,743 )

NET CURRENT ASSETS (LIABILITIES)			393,030		441,451

TOTAL ASSETS LESS CURRENT LIABILITIES			403,961		467,850

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,649 )		(3,580 )

NET ASSETS			401,312		464,270

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			401,212		464,170

SHAREHOLDERS' FUNDS			401,312		464,270

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Saxton Marine Supplies Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Jeremy Saxton

Director

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Saxton Marine Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05178799 . The registered office is Llanvithyn Farm, Llancarfan, Barry, Vale Of Glamorgan, CF62 3AE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	5% straight line
Plant & Machinery	25% straight line/ 15% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Saxton Marine Supplies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 April 2024	1,201	39,039	40,240
Additions	-	1,419	1,419
Disposals	-	(1,047 )	(1,047 )

As at 31 March 2025	1,201	39,411	40,612

Depreciation
As at 1 April 2024	802	27,936	28,738
Provided during the period	60	1,930	1,990
Disposals	-	(1,047 )	(1,047 )

As at 31 March 2025	862	28,819	29,681

Net Book Value
As at 31 March 2025	339	10,592	10,931

As at 1 April 2024	399	11,103	11,502

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	14,897
Fair value adjustments	(14,897 )

As at 31 March 2025	-

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	14,897

The investment has been written off to the profit and loss in the year.

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Saxton Marine Supplies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Stocks

	2025	2024
	£	£
Stock	11,650	12,500

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	98,177	109,656
Other debtors	274,554	222,046

	372,731	331,702
Due after more than one year
Other debtors	27,734	27,734

	400,465	359,436

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	120,389	117,631
Other creditors	17,103	20,649
Taxation and social security	70,841	69,463

	208,333	207,743

Due to the unwinding of the investment, an additional tax liability has been recognised within the financial statements.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Jeremy Saxton	220,933	168,870	116,417	-	273,386

The above loan is unsecured and repayable on demand. Interest is charged at 2.25%.

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