Company No: 02576494 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	D E Jennings
	M E Jennings
	R E Jennings

Secretary

M E Jennings

Registered office	Unit 4 Ozengell Place
	Eurokent Business Park
	Ramsgate
	CT12 6PB
	United Kingdom

Company number

02576494 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marine Software Limited for the financial year ended 31 May 2025 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Marine Software Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marine Software Limited. You consider that Marine Software Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Marine Software Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Marine Software Limited, as a body, in accordance with the terms of our engagement letter dated 22 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Marine Software Limited and state those matters that we have agreed to state to the Board of Directors of Marine Software Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marine Software Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP

37 St Margarets Street
Canterbury
Kent
CT1 2TU

16 December 2025

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	22,679		23,416
		22,679		23,416
Current assets
Debtors	4	52,406		48,205
Cash at bank and in hand		2,104,750		2,134,221
		2,157,156		2,182,426
Creditors: amounts falling due within one year	5	( 226,785)		( 243,512)
Net current assets		1,930,371		1,938,914
Total assets less current liabilities		1,953,050		1,962,330
Provision for liabilities	6	( 3,427)		( 3,441)
Net assets		1,949,623		1,958,889
Capital and reserves
Called-up share capital	7	930		930
Capital redemption reserve		70		70
Profit and loss account		1,948,623		1,957,889
Total shareholders' funds		1,949,623		1,958,889

For the financial year ending 31 May 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 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 Comprehensive Income has not been delivered.

The financial statements of Marine Software Limited (registered number: 02576494) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

M E Jennings 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

Marine Software Limited (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 Unit 4 Ozengell Place, Eurokent Business Park, Ramsgate, CT12 6PB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	20 years straight line
Office equipment	4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Comprehensive Income 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Leasehold improve- ments		Office equipment		Total
	£		£		£
Cost
At 01 June 2024	13,259		183,466		196,725
Additions	0		7,760		7,760
At 31 May 2025	13,259		191,226		204,485
Accumulated depreciation
At 01 June 2024	7,956		165,353		173,309
Charge for the financial year	663		7,834		8,497
At 31 May 2025	8,619		173,187		181,806
Net book value
At 31 May 2025	4,640		18,039		22,679
At 31 May 2024	5,303		18,113		23,416

4. Debtors

	2025		2024
	£		£
Trade debtors	31,012		22,150
Prepayments	21,394		20,824
Other debtors	0		5,231
	52,406		48,205

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Corporation tax	63,892		71,771
Other taxation and social security	9,513		3,813
Other creditors	153,380		167,928
	226,785		243,512

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 3,441)		( 2,682)
Credited/(charged) to the Profit and Loss Account	14		( 759)
At the end of financial year	( 3,427)		( 3,441)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 3,427)		( 3,441)

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
930 Ordinary shares of £ 1.00 each	930		930

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	56,000		56,000
between one and five years	224,000		224,000
after five years	0		56,000
Total future minimum lease payments under non-cancellable operating leases	280,000		336,000

9. Related party transactions

During the year the company paid directors' remuneration under normal market conditions.

10. Ultimate controlling party

The ultimate controlling parties are Mr M E Jennings and Mr R E Jennings by virute of owning 50% each of the issued share capital.