Gravesend Marine Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01734560 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Gravesend Marine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A D Park

REGISTERED OFFICE:

Broom House

39/43 London Road

Hadleigh, Benfleet

Essex

SS7 2QL

REGISTERED NUMBER:

01734560 (England and Wales)

ACCOUNTANTS:

BPSL

Brooms Professional Services Limited

Chartered Certified Accountants

Broom House

39/43 London Road

Hadleigh, Benfleet

Essex

SS7 2QL

BANKERS:

HSBC Bank plc

84 New Road

Gravesend

Kent

DA11 0AS

FIXED ASSETS

Tangible assets

4

885

1,746

CURRENT ASSETS

Stocks

80,485

130,100

Debtors

5

85,015

177,425

Cash at bank

25,511

87,777

191,011

395,302

CREDITORS

Amounts falling due within one year

6

343,808

471,501

NET CURRENT LIABILITIES

(152,797

)

(76,199

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(151,912

)

(74,453

)

CAPITAL AND RESERVES

Called up share capital

7

7

Retained earnings

(151,919

)

(74,460

)

SHAREHOLDERS' FUNDS

(151,912

)

(74,453

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 July 2019 and were signed by:

Mr A D Park - Director

1.	STATUTORY INFORMATION

Gravesend Marine Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2017

and 30 June 2018

9,075

10,634

20,223

39,932

DEPRECIATION

At 1 July 2017

9,075

9,528

19,583

38,186

Charge for year

-

701

160

861

At 30 June 2018

9,075

10,229

19,743

39,047

NET BOOK VALUE

At 30 June 2018

-

405

480

885

At 30 June 2017

-

1,106

640

1,746

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

83,816

172,789

VAT

384

2,010

Prepayments

815

2,626

85,015

177,425

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans and overdrafts

88,811

149,403

Other loans

34,650

39,603

Trade creditors

123,522

144,854

Tax

9,240

19,013

Social security and other taxes

8,439

6,506

Other creditors

24,091

4,733

Payments received on account

10,362

17,465

Directors' current accounts

20,340

55,193

Accrued expenses

24,353

34,731

343,808

471,501

7.	RELATED PARTY DISCLOSURES

During the year the company paid property rent in the sum of £7,656 (2017: £11,400) to A D Park.