Quay Marine Ireland Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI611484

Quay Marine Ireland Limited

Filleted Unaudited Financial Statements

31 March 2025

Quay Marine Ireland Limited

Balance Sheet

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		–	132

Current assets

Debtors	7	45,335	50,072
Cash at bank and in hand		5,557	7,573
		--------	--------
		50,892	57,645

Creditors: amounts falling due within one year	8	11,238		12,991
		--------		--------
Net current assets			39,654	44,654
			--------	--------
Total assets less current liabilities			39,654	44,786
			--------	--------
Net assets			39,654	44,786
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	39,554	44,686
	--------	--------
Shareholders funds	39,654	44,786
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Quay Marine Ireland Limited

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 6 November 2025 , and are signed on behalf of the board by:

Robin Eddy
Director

Company registration number: NI611484

Quay Marine Ireland Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 492, Moat House, 54 Bloomfield Avenue, Belfast, BT5 5AD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	straight line over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & fittings	-	20% reducing balance
Computers	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	100,000
	---------
Amortisation
At 1 April 2024 and 31 March 2025	100,000
	---------
Carrying amount
At 31 March 2025	–
	---------
At 31 March 2024	–
	---------

6. Tangible assets

	Fixtures and fittings	Computers	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	1,228	3,048	4,276
	-------	-------	-------
Depreciation
At 1 April 2024	1,096	3,048	4,144
Charge for the year	132	–	132
	-------	-------	-------
At 31 March 2025	1,228	3,048	4,276
	-------	-------	-------
Carrying amount
At 31 March 2025	–	–	–
	-------	-------	-------
At 31 March 2024	132	–	132
	-------	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	35,910	47,631
Other debtors	9,425	2,441
	--------	--------
	45,335	50,072
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	7,727	10,225
Social security and other taxes	1,666	933
Other creditors	1,845	1,833
	--------	--------
	11,238	12,991
	--------	--------

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	5,557	7,573
	-------	-------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Robin Eddy	1,036	9,425	( 1,036)	9,425
	-------	-------	-------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Robin Eddy	1,059	1,036	( 1,059)	1,036
	-------	-------	-------	-------

The loan was on an interest free basis .