MarineCo Limited


Directors	BRYAN BROWN, Thomas
	DINHAM, Christopher Joseph
	GILMORE, Kathryn Lynn, Dr
	ROSIE, Craig Norman
	SCOTT, Richard William


Registered Address	Marineco House Gilston Road
	Saltash Industrial Estate
	Saltash
	PL12 6LF


Registered Number	08343440 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,131,281		1,136,679
			1,131,281		1,136,679
Current assets
Stocks	4	954,663		924,151
Debtors	5	389,397		396,002
Cash at bank and on hand		1,278,419		1,036,837
		2,622,479		2,356,990
Creditors amounts falling due within one year	6	(792,605)		(613,672)
Net current assets (liabilities)			1,829,874		1,743,318
Total assets less current liabilities			2,961,155		2,879,997
Provisions for liabilities	7		(6,720)		(8,070)
Net assets			2,954,435		2,871,927
Capital and reserves
Called up share capital			190,626		190,626
Revaluation reserve			219,853		219,853
Profit and loss account			2,543,956		2,461,448
Shareholders' funds			2,954,435		2,871,927

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 31 August 2026, and are signed on its behalf by:

DINHAM, Christopher Joseph
Director
Registered Company No. 08343440

MarineCo Limited

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Previously the company operated a defined benefit pension scheme, which is now closed, however obligations existed under the scheme in the form of a recovery plan. This has been paid in full in the current year and no further obligations to the plan.

Defined contribution pension plan

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

Previously the company operated a defined benefit pension scheme, which is now closed, however obligations existed under the scheme in the form of a recovery plan. This has been paid in full in the current year and no further obligations to the plan.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	25
	Vehicles	25
	Office Equipment	20

	Stocks and work in progress
	Stock is valued at the lower of cost and Net realisable Value after provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	6		6

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 25	1,104,400	99,097	22,250	13,790	1,239,537
Additions	-	500	-	2,748	3,248
At 31 December 25	1,104,400	99,597	22,250	16,538	1,242,785
Depreciation and impairment
At 01 January 25	-	75,957	15,096	11,805	102,858
Charge for year	-	5,910	1,789	947	8,646
At 31 December 25	-	81,867	16,885	12,752	111,504
Net book value
At 31 December 25	1,104,400	17,730	5,365	3,786	1,131,281
At 31 December 24	1,104,400	23,140	7,154	1,985	1,136,679

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	954,663	924,151
Total	954,663	924,151

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	378,997	313,183
Other debtors	-	61,385
Prepayments and accrued income	10,400	21,434
Total	389,397	396,002

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	269,791	182,035
Taxation and social security	187,855	181,441
Dividends payable	286,385	246,936
Accrued liabilities and deferred income	48,574	3,260
Total	792,605	613,672

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	6,720	8,070
Total	6,720	8,070

8.	Controlling party
	No individual or small group of shareholders has control of the company.