REGISTERED NUMBER: 04544308 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

AQUALINE MARINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Corker

REGISTERED OFFICE:

Hanbury Wharf

Hanbury Road

Droitwich

Worcestershire

WR9 7DU

REGISTERED NUMBER:

04544308 (England and Wales)

ACCOUNTANTS:

Neuhoff & Co

Chartered Accountants

Claydons Barns

11 Towcester Road

Whittlebury

Northamptonshire

NN12 8XU

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

-

10,000

-

10,000

CURRENT ASSETS

Stocks

-

203,461

Debtors

6

668,236

945,857

Cash at bank

199,520

195,451

867,756

1,344,769

CREDITORS

Amounts falling due within one year

7

(597,423

)

(643,106

)

NET CURRENT ASSETS

270,333

701,663

TOTAL ASSETS LESS CURRENT LIABILITIES

270,333

711,663

CAPITAL AND RESERVES

Called up share capital

64,326

64,326

Capital redemption reserve

46,785

46,785

Retained earnings

159,222

600,552

SHAREHOLDERS' FUNDS

270,333

711,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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

The financial statements were approved by the director and authorised for issue on 30 December 2025 and were signed by:

J Corker - Director

1.	STATUTORY INFORMATION

Aqualine 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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

Taxation

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

44,308

DEPRECIATION

At 1 January 2024

and 31 December 2024

44,308

NET BOOK VALUE

At 31 December 2024

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

10,000

Disposals

(10,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

10,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aqualine Marine Sp.z o.o.

Registered office: UL. Rakowiec 11 82-200 Malbork Poland

Nature of business: Boat builders

%

Class of shares:

holding

2024

2023

£

£

Aggregate capital and reserves

-

(177,019

)

Loss for the year

-

(105,792

)

On 18 December 2024, the company sold 100% of its investment in Aqualine Marine SP. z o.o to Passion Yachts GmbH, Am Pichelsee 50, 135959 Berlin, Germany.

The Share Purchase Agreement provided inter alia for the assignment of certain loans and for an outstanding loan balance of €85,000. to be repaid in 60 equal monthly instalments over a period of five years.

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

495,227

509,132

Other debtors

116,205

115,326

611,432

624,458

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

321,399

Other debtors

56,804

-

56,804

321,399

Aggregate amounts

668,236

945,857

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

565,434

584,894

Taxation and social security

2,507

39,783

Other creditors

29,482

18,429

597,423

643,106

8.	RELATED PARTY DISCLOSURES