Registration number: 07336252

M. J. Marine Electronics Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

M. J. Marine Electronics Limited

Company Information

Directors

Mr Mark Nicholas Johns Mr Robert Trembath

Registered office

15 Alverton Street Penzance Cornwall TR18 2QP

Accountants

D.J. Reynolds & Co. Chartered Accountants15 Alverton Street Penzance Cornwall TR18 2QP

M. J. Marine Electronics Limited

(Registration number: 07336252)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,235	6,886
Current assets
Stocks	5	49,209	56,035
Debtors	6	39,332	45,596
Cash at bank and in hand		100,246	66,378
		188,787	168,009
Creditors: Amounts falling due within one year	7	(95,700)	(46,832)
Net current assets		93,087	121,177
Total assets less current liabilities		97,322	128,063
Creditors: Amounts falling due after more than one year	7	(2,919)	(42,753)
Provisions for liabilities		(804)	(1,308)
Net assets		93,599	84,002
Capital and reserves
Called up share capital	8	101	101
Retained earnings		93,498	83,901
Shareholders' funds		93,599	84,002

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2026 and signed on its behalf by:
 

......................................... Mr Mark Nicholas Johns Director

M. J. Marine Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

The principal place of business is:
Unit 4
Albert Pier
Penzance
Cornwall
TR18 2LL

These financial statements were authorised for issue by the Board on 10 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 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.

M. J. Marine Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Government grants

Before a government grant can be recognized in an entities financial statements, there must be reasonable assurance that:

a) The entity will comply with the conditions attaching to them
b) The grants will be received

Government grants will be initially recognised at the fair value of the asset received (or receivable) to comply with FRS102 Section 24.5 and if any of the grant becomes repayable, the reporting entity must recognise a liability at the point in time the repayment meets the definition of a liability.

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Office equipment	33% reducing balance basis
Motor vehicles	20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

M. J. Marine Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 September 2024	12,273	26,506	7,958	46,737
Additions	234	-	-	234
At 31 August 2025	12,507	26,506	7,958	46,971
Depreciation
At 1 September 2024	10,109	22,849	6,893	39,851
Charge for the year	791	1,828	266	2,885
At 31 August 2025	10,900	24,677	7,159	42,736
Carrying amount
At 31 August 2025	1,607	1,829	799	4,235
At 31 August 2024	2,164	3,657	1,065	6,886

M. J. Marine Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

5

Stocks

	2025 £	2024 £
Other inventories	49,209	56,035

6

Debtors

Current	2025 £	2024 £
Trade debtors	18,054	20,820
Other debtors	21,278	24,776
	39,332	45,596

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	5,892	11,115
Taxation and social security	16,065	4,641
Accruals and deferred income	2,278	2,031
Other creditors	71,465	29,045
	95,700	46,832

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other financial liabilities	2,919	42,753

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	100	100	100	100
"A" Share of £0.01 each	100	1	100	1
	200	101	200	101

M. J. Marine Electronics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

9	Related party transactions

Transactions with directors

2025	At 1 September 2024 £	Advances to director £	Repayments by director £	At 31 August 2025 £
Mr Mark Nicholas Johns
Interest-bearing loan to the company, repayable on demand	67,953	(40,034)	-	27,919
Mr Robert Trembath
Interest-bearing loan to the company,repayable on demand	3,700	(3,700)	12,000	12,000

2024	At 1 September 2023 £	Advances to director £	Repayments by director £	At 31 August 2024 £
Mr Mark Nicholas Johns
Interest-bearing loan to the company, repayable on demand	95,627	(35,974)	8,300	67,953
Mr Robert Trembath
Interest-bearing loan to the company,repayable on demand	2,000	-	1,700	3,700

Summary of transactions with parent

M J Marine Group Ltd
(A company with a controlling interest.) During the year the company met expenditure on behalf of M J Marine Group Ltd.
At the balance sheet date the amount due to M J Marine Group Ltd was £34,190 (2024 - £3,510.)

Summary of transactions with other related parties

M.J. Marine Charters Limited
Company under common control During the year the company met expenditure on behalf of M. J. Marine Charters Limited.
At the balance sheet date the amount owed from M. J. Marine Charters Limited was £19,873 (2024 - £19,873.)