REGISTERED NUMBER: 01884348 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

WAKE MARINE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Lavallin

REGISTERED OFFICE:

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

BUSINESS ADDRESS:

Quay House

Town Quay

River Road

Arundel

West Sussex

BN18 9DF

REGISTERED NUMBER:

01884348 (England and Wales)

ACCOUNTANTS:

Advanta

Chartered Accountants

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

FIXED ASSETS

Tangible assets

4

4,653

6,654

CURRENT ASSETS

Debtors

275,413

306,633

Cash at bank

303,681

491,028

579,094

797,661

CREDITORS

Amounts falling due within one year

327,473

236,954

NET CURRENT ASSETS

251,621

560,707

TOTAL ASSETS LESS CURRENT LIABILITIES

256,274

567,361

CREDITORS

Amounts falling due after more than one year

(13,334

)

(53,334

)

PROVISIONS FOR LIABILITIES

7

(1,163

)

(1,664

)

NET ASSETS

241,777

512,363

CAPITAL AND RESERVES

Called up share capital

1,206

1,206

Share premium

9,794

9,794

Retained earnings

230,777

501,363

SHAREHOLDERS' FUNDS

241,777

512,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

S J Lavallin - Director

1.	STATUTORY INFORMATION

Wake Marine 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.

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

Turnover represents amounts receivable for international freight services net of VAT.

Revenue from the sale of services is recognised by reference to the stage of completion and when the costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

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

Furniture,fittings & equipment

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

31,151

Additions

3,134

At 31 March 2025

34,285

DEPRECIATION

At 1 April 2024

24,497

Charge for year

5,135

At 31 March 2025

29,632

NET BOOK VALUE

At 31 March 2025

4,653

At 31 March 2024

6,654

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

50,511

49,752

Between one and five years

48,984

68,816

99,495

118,568

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

61,801

1,084

Bank loans

53,334

93,334

115,135

94,418

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,163

1,664

Deferred

tax

£

Balance at 1 April 2024

1,664

Provided during year

(501

)

Balance at 31 March 2025

1,163

8.	SHARE-BASED PAYMENT TRANSACTIONS

The company operates an approved Enterprise Management Incentive (EMI) share option scheme for employees. Options are granted at an exercise price equal to the market value of the company's shares at the date of grant, as agreed with HMRC. The options vest over either six months or over four from the date of grant, subject to continued employment.

The number and weighted average exercise prices of share options are as follows:

Weighted average exercise price

Number

Weighted average exercise price

Number

2025

2025

2024

2024

Outstanding at the beginning of the year

1

225

1

225

Granted during the year

-

-

-

-

Exercised during the year

-

-

-

-

Expired during the year

-

-

-

-

Outstanding at the end of the year

1

225

1

225

Exercisable at the end of the year

-

-

-

-