Dragonet Marine Systems Ltd

Dragonet Marine Systems Ltd
Statement of Financial Position
As at 31 March 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	76	174
		76	174
Current assets
Debtors: amounts falling due within one year	4	0	5,871
Cash at bank and in hand		1,680	3,125
		1,680	8,996
Creditors: amount falling due within one year	5	(4,443)	(4,959)
Net current assets		(2,763)	4,037

Total assets less current liabilities		(2,687)	4,211
Creditors: amount falling due after more than one year	6	0	(5,153)
Net assets		(2,687)	(942)

Capital and reserves
Called up share capital	7	800	800
Profit and loss account		(3,486)	(1,742)
Shareholders' funds		(2,686)	(942)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question 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 accounts.

These 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 income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 30 November 2025 and were signed on its behalf by:

-------------------------------
Mr I Webb
Director

Dragonet Marine Systems Ltd
Notes to the Financial Statements
For the year ended 31 March 2025

General Information

Dragonet Marine Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 02877229, registration address Beck Farm Cottage, St Leonards's Road, Lymington, Hampshire, SO41 5SR.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The company has negative equity of -£3,798 (2024: -£1,742). The directors believe that the company will be able to meet its financial obligations as they fall due and have guaranteed that they will continue to support the business for a period of 12 months from the date the accounts are authorised for issue. Therefore they see no reason to disapply the going concern basis.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.

Computer Equipment

33% Straight Line

Financial instruments

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

2.	Average number of employees Average number of employees during the year was 0 (2024 : 0).

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 April 2024	11,186	11,186
Additions	-	-
Disposals	-	-
At 31 March 2025	11,186	11,186
Depreciation
At 01 April 2024	11,012	11,012
Charge for year	98	98
On disposals	-	-
At 31 March 2025	11,110	11,110
Net book values
Closing balance as at 31 March 2025	76	76
Opening balance as at 01 April 2024	174	174

Debtors: amounts falling due within one year

	2025 £		2024 £
Directors' Current Accounts	0		5,871
	0		5,871

Creditors: amount falling due within one year

	2025 £	2024 £
Bank Loans & Overdrafts	3,031	3,833
Accrued Expenses	1,100	1,101
Directors' Current Accounts	312	0
VAT	0	25
	4,443	4,959

Creditors: amount falling due after more than one year

	2025 £		2024 £
Bank Loans & Overdrafts	0		5,153
	0		5,153

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
800 Ordinary shares of £1.00 each	800		800
	800		800

8.	Director’s loan

Mr I Webb

Particulars	2025 £	2024 £
Opening Balance	5,871	(2,489)
Advances to director	-	12,572
Repayments by director	(6,182)	(4,212)
Closing Balance	(311)	5,871

The loan is interest free with no fixed date of repayment.

9.	Loan The loan is unsecured for a period of 15 months and attracts interest of 2.5% per annum. Repayments are made monthly. Amounts due for repayment: Less than 1 year: £3,031 (2024: £3,833) More than 1 year and less than 5 years: Nil (2024: £5,153)

Registered Number: 02877229
England and Wales
DRAGONET MARINE SYSTEMS LTD

Unaudited Financial Statements

Period of accounts Start date: 01 April 2024 End date: 31 March 2025