Company No: 08532397 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	828,888		857,728
		828,888		857,728
Current assets
Stocks		9,405		9,662
Debtors	5	56,295		25,869
Cash at bank and in hand		119,341		151,159
		185,041		186,690
Creditors: amounts falling due within one year	6	( 312,645)		( 347,440)
Net current liabilities		(127,604)		(160,750)
Total assets less current liabilities		701,284		696,978
Creditors: amounts falling due after more than one year	7	( 445,910)		( 480,836)
Provision for liabilities		( 80,725)		( 66,243)
Net assets		174,649		149,899
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		174,549		149,799
Total shareholders' funds		174,649		149,899

For the financial 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.

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 Income and Retained Earnings has not been delivered.

The financial statements of Blackness Marine Limited (registered number: 08532397) were approved and authorised for issue by the Board of Directors on 31 December 2025. They were signed on its behalf by:

Mr D R Fry 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

Blackness Marine 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 C/O Blackness Marine, Higher East Cornworthy Farm, Totnes, TQ9 7HQ, 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

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

Leasehold improvements	50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	10 % reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	44,000		44,000
At 31 March 2025	44,000		44,000
Accumulated amortisation
At 01 April 2024	44,000		44,000
At 31 March 2025	44,000		44,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	601,902		417,887		10,792		275,010		1,305,591
Additions	11,675		0		0		29,358		41,033
At 31 March 2025	613,577		417,887		10,792		304,368		1,346,624
Accumulated depreciation
At 01 April 2024	87,711		216,700		9,563		133,889		447,863
Charge for the financial year	12,270		40,236		307		17,060		69,873
At 31 March 2025	99,981		256,936		9,870		150,949		517,736
Net book value
At 31 March 2025	513,596		160,951		922		153,419		828,888
At 31 March 2024	514,191		201,187		1,229		141,121		857,728

5. Debtors

	2025		2024
	£		£
Trade debtors	36,130		21,272
Other debtors	20,165		4,597
	56,295		25,869

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,000		10,000
Trade creditors	43,994		47,280
Taxation and social security	39,185		35,309
Obligations under finance leases and hire purchase contracts (secured £24,296)	24,926		24,786
Other creditors	194,540		230,065
	312,645		347,440

Hire Purchase borrowings are secured on the individual assets taken out on purchase.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,667		11,667
Obligations under finance leases and hire purchase contracts (secured)	44,243		69,169
Other creditors	400,000		400,000
	445,910		480,836

Hire Purchase borrowings are secured on the individual assets taken out on purchase.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
49 Ordinary A shares of £ 1.00 each	49		49
51 Ordinary B shares of £ 1.00 each	51		51
	100		100