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Company Registration No. 12671145 (England and Wales)
LGM Marine Ltd Unaudited accounts for the year ended 30 June 2025
LGM Marine Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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LGM Marine Ltd Company Information for the year ended 30 June 2025
Director
Louis Morris
Company Number
12671145 (England and Wales)
Registered Office
Egerton House 68 Baker Street Weybridge Surrey KT13 8AL United Kingdom
Accountants
P10 Accountancy Ltd Egerton House 68 Baker Street Weybridge KT13 8AL
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LGM Marine Ltd Statement of financial position as at 30 June 2025
2025
2024
Notes
£
£
Current assets
Inventories
205,000
205,000
Debtors
4
2,416
2,064
Cash at bank and in hand
199
152
207,615
207,216
Creditors: amounts falling due within one year
5
(211,051)
(170,021)
Net current (liabilities)/assets
(3,436)
37,195
Total assets less current liabilities
(3,436)
37,195
Creditors: amounts falling due after more than one year
6
(87,472)
(99,849)
Net liabilities
(90,908)
(62,654)
Capital and reserves
Called up share capital
1
1
Profit and loss account
(90,909)
(62,655)
Shareholders' funds
(90,908)
(62,654)
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2026 and were signed on its behalf by
Louis Morris Director Company Registration No. 12671145
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LGM Marine Ltd Notes to the Accounts for the year ended 30 June 2025
1
Statutory information
LGM Marine Ltd is a private company, limited by shares, registered in England and Wales, registration number 12671145. The registered office is Egerton House, 68 Baker Street, Weybridge, Surrey, KT13 8AL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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LGM Marine Ltd Notes to the Accounts for the year ended 30 June 2025
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
2,416
2,064
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
12,376
12,376
Amounts owed to group undertakings and other participating interests
196,375
154,645
Accruals
2,300
3,000
211,051
170,021
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
87,472
99,849
7
Transactions with related parties
At the balance sheet date the company owed £196,375 (2024: £154,645) to LGM Aviation, a company under common control. This balance is unsecured, interest-free, and repayable on demand.
8
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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