Registration number:
Admiral Marine Limited
for the Year Ended 31 December 2025
Pages for filing with Registrar
Admiral Marine Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Admiral Marine Limited
Company Information
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Directors |
J W Woollam B R K Leah |
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Registered office |
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Registered number |
02666794 |
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Accountant |
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Admiral Marine Limited
(Registration number: 02666794)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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19,152 |
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Current assets |
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Debtors |
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265,012 |
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Cash at bank and in hand |
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1,049,612 |
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964,281 |
1,314,624 |
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Creditors: Amounts falling due within one year |
(533,046) |
(910,472) |
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Net current assets |
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404,152 |
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Total assets less current liabilities |
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423,304 |
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Provisions for liabilities |
(6,794) |
(2,619) |
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Net assets |
461,984 |
420,685 |
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Capital and reserves |
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Called up share capital |
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19,000 |
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Share premium reserve |
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10,800 |
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Capital redemption reserve |
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1,000 |
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Profit and loss account |
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389,885 |
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Total equity |
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420,685 |
Admiral Marine Limited
(Registration number: 02666794)
Balance Sheet as at 31 December 2025
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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
J W Woollam
Director
Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. Given the company's profitability and financial resources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Revenue recognition
Turnover represents the insurance broking commission and fees receivable for insurances arranged in the year.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax
Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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 in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Short leasehold land and buildings |
Over the term of the lease |
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Furniture, fittings and equipment |
25% on reducing balance |
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Office equipment |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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2 |
Accounting policies (continued) |
Insurance debtors
Insurance debtors are recognised initially at the transaction price. They are subsequently measured less any provision for impairment. A provision for the impairment of insurance debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised at the transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividends distributed to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as a liability and an expense, in the period in which the employees' services are received.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Taxation |
Deferred tax
Deferred tax assets and liabilities
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2025 |
Liability |
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Fixed asset timing differences |
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2024 |
Liability |
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Fixed asset timing differences |
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Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Tangible fixed assets |
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Short leasehold land and buildings |
Office Equipment |
Furniture, fittings and equipment |
Total |
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Cost |
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At 1 January 2025 |
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Additions |
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- |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
- |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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- |
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At 31 December 2024 |
- |
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Debtors: amounts falling due within one year |
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2025 |
2024 |
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Owed by group undertakings |
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239,110 |
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Prepayments |
36,315 |
25,902 |
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365,764 |
265,012 |
Admiral Marine Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Creditors |
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2025 |
2024 |
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Trade creditors |
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194 |
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Corporation tax |
12,988 |
21,446 |
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Social security and other taxes |
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2,317 |
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Other creditors |
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868,423 |
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Accruals |
17,473 |
18,092 |
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533,046 |
910,472 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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19,000 |
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19,000 |
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Parent and ultimate parent undertaking |
The company's immediate parent is Hayes Parsons Holdings Limited, incorporated in England and Wales.
The ultimate parent is Wingardium Holdings Limited, incorporated in England and Wales.
The ultimate controlling party is Mr J W Woollam by virtue of his majority shareholding in Wingardium Holdings Limited.