31/03/2020
2020-03-31
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No description of principal activities is disclosed
2019-04-01
Sage Accounts Production 19.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
4714980
2019-04-01
2020-03-31
4714980
2020-03-31
4714980
2019-03-31
4714980
2018-04-01
2019-03-31
4714980
2019-03-31
4714980
2018-03-31
4714980
core:PlantMachinery
2019-04-01
2020-03-31
4714980
core:FurnitureFittingsToolsEquipment
2019-04-01
2020-03-31
4714980
core:MotorVehicles
2019-04-01
2020-03-31
4714980
bus:RegisteredOffice
2019-04-01
2020-03-31
4714980
bus:LeadAgentIfApplicable
2019-04-01
2020-03-31
4714980
bus:Director1
2019-04-01
2020-03-31
4714980
bus:Director2
2019-04-01
2020-03-31
4714980
bus:CompanySecretary1
2019-04-01
2020-03-31
4714980
core:PlantMachinery
2019-03-31
4714980
core:FurnitureFittingsToolsEquipment
2019-03-31
4714980
core:WithinOneYear
2020-03-31
4714980
core:WithinOneYear
2019-03-31
4714980
core:ShareCapital
2020-03-31
4714980
core:ShareCapital
2019-03-31
4714980
core:RetainedEarningsAccumulatedLosses
2020-03-31
4714980
core:RetainedEarningsAccumulatedLosses
2019-03-31
4714980
core:PlantMachinery
2019-03-31
4714980
core:FurnitureFittingsToolsEquipment
2019-03-31
4714980
bus:Director1
2019-03-31
4714980
bus:Director1
2018-03-31
4714980
bus:Director1
2019-03-31
4714980
bus:Director1
2018-04-01
2019-03-31
4714980
bus:Director2
2018-04-01
2019-03-31
4714980
bus:SmallEntities
2019-04-01
2020-03-31
4714980
bus:AuditExempt-NoAccountantsReport
2019-04-01
2020-03-31
4714980
bus:FullAccounts
2019-04-01
2020-03-31
4714980
bus:SmallCompaniesRegimeForAccounts
2019-04-01
2020-03-31
4714980
bus:PrivateLimitedCompanyLtd
2019-04-01
2020-03-31
4714980
core:AllAssociates
2019-04-01
2020-03-31
4714980
core:AllAssociates
2018-04-01
2019-03-31
4714980
core:AllAssociates
2020-03-31
4714980
core:AllAssociates
2019-03-31
Company registration number:
4714980
Tony Hole Marine Limited
Unaudited filleted financial statements
31 March 2020
Tony Hole Marine Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Tony Hole Marine Limited
Directors and other information
|
|
|
|
Directors |
Mr D Mallett |
|
|
Mr D J Mallett |
|
|
|
|
|
|
|
Secretary |
Mr D Mallett |
|
|
|
|
|
|
|
Company number |
4714980 |
|
|
|
|
|
|
|
Registered office |
Plymouth Marine Centre |
|
|
Pomphlett Quay |
|
|
Billacombe Road |
|
|
Plymouth |
|
|
PL9 7HP |
|
|
|
|
|
|
|
Accountants |
Franklins Accountants LLP |
|
|
Astor House |
|
|
2 Alexandra Road |
|
|
Mutley Plain |
|
|
Plymouth |
|
|
PL4 7JR |
|
|
|
Tony Hole Marine Limited
Statement of financial position
31 March 2020
|
|
|
2020 |
|
|
|
2019 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
- |
|
|
|
5,135 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
- |
|
|
|
5,135 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
- |
|
|
|
41,000 |
|
|
Debtors |
|
6 |
218,638 |
|
|
|
474,601 |
|
|
Cash at bank and in hand |
|
|
2,608 |
|
|
|
13,938 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
221,246 |
|
|
|
529,539 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
9,228) |
|
|
|
(
341,824) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
212,018 |
|
|
|
187,715 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
212,018 |
|
|
|
192,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
- |
|
|
|
(
924) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
212,018 |
|
|
|
191,926 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
|
|
|
211,018 |
|
|
|
190,926 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
212,018 |
|
|
|
191,926 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2020 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 October 2020
, and are signed on behalf of the board by:
Mr D Mallett
Director
Company registration number:
4714980
Tony Hole Marine Limited
Notes to the financial statements
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Plymouth Marine Centre, Pomphlett Quay, Billacombe Road, Plymouth, PL9 7HP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2019:
2
).
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2019 |
18,924 |
8,661 |
27,585 |
|
|
|
|
|
Disposals |
(
18,924) |
(
8,661) |
(
27,585) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2020 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2019 |
16,225 |
6,225 |
22,450 |
|
|
|
|
|
Charge for the year |
2,699 |
2,436 |
5,135 |
|
|
|
|
|
Disposals |
(
18,924) |
(
8,661) |
(
27,585) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2020 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2020 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2019 |
2,699 |
2,436 |
5,135 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2020 |
2019 |
|
|
|
£ |
£ |
|
Trade debtors |
|
- |
137,701 |
|
Other debtors |
|
218,638 |
336,900 |
|
|
|
_______ |
_______ |
|
|
|
218,638 |
474,601 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2020 |
2019 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
7,215 |
|
Trade creditors |
|
(
58,563) |
97,020 |
|
Social security and other taxes |
|
19,049 |
40,760 |
|
Other creditors |
|
48,742 |
196,829 |
|
|
|
_______ |
_______ |
|
|
|
9,228 |
341,824 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr D Mallett |
(
96,587) |
98,587 |
(
2,000) |
- |
|
|
|
Mr D J Mallett |
- |
353 |
(
353) |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
96,587) |
98,940 |
(
2,353) |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr D Mallett |
(
78,482) |
41,895 |
(
60,000) |
(
96,587) |
|
|
|
Mr D J Mallett |
- |
15,000 |
(
15,000) |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
78,482) |
56,895 |
(
75,000) |
(
96,587) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
During the year dividends totalling £2,353 were paid to the directors.
9.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2020 |
2019 |
2020 |
2019 |
|
|
£ |
£ |
£ |
£ |
|
Plymouth Marine Ltd |
108,951 |
(
130,747) |
218,638 |
327,589 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The company is related to Plymouth Marine Ltd having the same directors and shareholders. Funds are transferred from one to the other for cash flow purposes. The company also paid Plymouth Marine Ltd management charges of £70,000 (2019 - £250,000) for the year.
10.
Controlling party
The company is controlled by
Mr D Mallett
by virtue of his directorship and shareholding.