Company No: 01022626 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,176,693		324,268
		1,176,693		324,268
Current assets
Debtors	4	5,585		11,289
Cash at bank and in hand		100,825		81,831
		106,410		93,120
Creditors: amounts falling due within one year	5	( 69,245)		( 64,508)
Net current assets		37,165		28,612
Total assets less current liabilities		1,213,858		352,880
Provision for liabilities		( 214,160)		( 667)
Net assets		999,698		352,213
Capital and reserves
Called-up share capital		100		100
Revaluation reserve		630,513		0
Profit and loss account		369,085		352,113
Total shareholder's funds		999,698		352,213

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Income Statement has not been delivered.

The financial statements of Ellis-Frost Marine Limited (registered number: 01022626) were approved and authorised for issue by the Director. They were signed on its behalf by:

Ms C E King Director

29 June 2026

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

Ellis-Frost 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 4 Pinewood Drive, Horning, Norwich, NR12 8LZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Income Statement 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 Statement of Financial Position.

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 Statement of Financial Position 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:

Land and buildings	not depreciated
Plant and machinery	20 % reducing balance
Fixtures and fittings	20 % reducing balance
Office equipment	30 % reducing balance
Other property, plant and equipment	20 % 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.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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.

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 creditors: amounts falling due within one year.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	6		8

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost/Valuation
At 01 January 2025	307,011		4,096		71,696		12,613		21,117		416,533
Additions	12,305		199		2,982		1,110		0		16,596
Disposals	0		( 1,277)		( 5,153)		( 411)		0		( 6,841)
Revaluations	840,684		0		0		0		0		840,684
At 31 December 2025	1,160,000		3,018		69,525		13,312		21,117		1,266,972
Accumulated depreciation
At 01 January 2025	0		2,958		58,777		10,726		19,804		92,265
Charge for the financial year	0		240		3,092		650		263		4,245
Disposals	0		( 1,105)		( 4,731)		( 395)		0		( 6,231)
At 31 December 2025	0		2,093		57,138		10,981		20,067		90,279
Net book value
At 31 December 2025	1,160,000		925		12,387		2,331		1,050		1,176,693
At 31 December 2024	307,011		1,138		12,919		1,887		1,313		324,268

Revaluation of tangible assets

If the land and buildings had been accounted for under the cost accounting rules, these would have been measured as follows:

	2025		2024
	£		£
Historical cost	319,316		307,011
Carrying value	319,316		307,011

4. Debtors

	2025		2024
	£		£
Prepayments	5,404		5,152
Other debtors	181		6,137
	5,585		11,289

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,622		1,905
Accruals	23,228		23,607
Corporation tax	1,660		0
Other taxation and social security	2,421		1,730
Other creditors	39,314		37,266
	69,245		64,508