Company Registration No. 1827526 (England and Wales)
Maritime Workshop (The)
Unaudited accounts
for the year ended 31 December 2018
Maritime Workshop (The)
Unaudited accounts
Contents
Maritime Workshop (The)
Company Information
for the year ended 31 December 2018
Directors
Mr A Dilley
Mr I Steele
Mr J Kundert
Company Number
1827526 (England and Wales)
Registered Office
50 Ferrol Road
Gosport
Hants
PO12 4UG
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Maritime Workshop (The)
Statement of financial position
as at 31 December 2018
Tangible assets
209,759
215,409
Cash at bank and in hand
13,008
10,376
Creditors: amounts falling due within one year
(2,976)
(2,398)
Net current assets
24,493
35,922
Total assets less current liabilities
234,252
251,331
Creditors: amounts falling due after more than one year
(35,284)
(44,886)
Net assets
198,968
206,445
Revaluation reserve
140,912
140,912
Profit and loss account
58,056
65,533
Members' funds
198,968
206,445
For the year ending 31 December 2018 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 17 August 2019.
Mr A Dilley
Director
Company Registration No. 1827526
Maritime Workshop (The)
Notes to the Accounts
for the year ended 31 December 2018
Maritime Workshop (The) is a private company, limited by guarantee, registered in England and Wales, registration number 1827526. The registered office is 50 Ferrol Road, Gosport, Hants, PO12 4UG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% reducing balances
Fixtures & fittings
18% reducing balances
Computer equipment
18% reducing balances
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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.
Maritime Workshop (The)
Notes to the Accounts
for the year ended 31 December 2018
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2018
200,000
12,808
124,002
7,798
344,608
Additions
-
-
1,050
-
1,050
Disposals
-
(12,808)
-
(7,798)
(20,606)
At 31 December 2018
200,000
-
125,052
-
325,052
At 1 January 2018
-
8,173
113,228
7,798
129,199
Charge for the year
-
-
2,065
-
2,065
On disposals
-
(8,173)
-
(7,798)
(15,971)
At 31 December 2018
-
-
115,293
-
115,293
At 31 December 2018
200,000
-
9,759
-
209,759
At 31 December 2017
200,000
4,635
10,774
-
215,409
Trade debtors
11,032
22,880
Accrued income and prepayments
3,229
4,864
7
Creditors: amounts falling due within one year
2018
2017
8
Creditors: amounts falling due after more than one year
2018
2017
Maritime Workshop (The)
Notes to the Accounts
for the year ended 31 December 2018
9
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
10
Average number of employees
During the year the average number of employees was 0 (2017: 0).
