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REGISTERED NUMBER: 07585952 (England and Wales)













Financial Statements

for the Year Ended 31 July 2023

for

UK Docks Marine Services Teesside
Limited

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UK Docks Marine Services Teesside
Limited

Company Information
for the year ended 31 July 2023







DIRECTORS: H Wilson
G Wilson
J Wilson
C Wilson
S W Syvret





REGISTERED OFFICE: River Drive
South Shields
Tyne & Wear
NE33 1LH





REGISTERED NUMBER: 07585952 (England and Wales)





AUDITORS: TTR Barnes Limited
Chartered Accountants and Statutory Auditors
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 916,398 911,782

CURRENT ASSETS
Debtors 5 2,819,817 1,630,843
Cash at bank and in hand 775,076 337,776
3,594,893 1,968,619
CREDITORS
Amounts falling due within one year 6 3,185,330 2,031,445
NET CURRENT ASSETS/(LIABILITIES) 409,563 (62,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,325,961

848,956

PROVISIONS FOR LIABILITIES 13,314 7,031
NET ASSETS 1,312,647 841,925

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,312,547 841,825
SHAREHOLDERS' FUNDS 1,312,647 841,925

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





G Wilson - Director


UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

UK Docks Marine Services Teesside 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover & income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised upon completion of work and services undertaken for customers.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% Straight line

Long Leasehold assets are not depreciated as they are maintained to such a degree that their residual value is at least equal to their cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contracts
Amounts recoverable on contracts are in respect of revenue generating contracts entered into which are not yet complete. Long term contract costs incurred are released to the profit and loss account as they fall due. Revenue is valued using a stage of completion method and recognised accordingly in the period for which the corresponding costs have been recognised. They are reviewed on a contract by contract basis and any foreseeable losses are recognised immediately in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 874,776 153,611 20,322 13,898 1,062,607
Additions 5,812 3,843 - 5,328 14,983
At 31 July 2023 880,588 157,454 20,322 19,226 1,077,590
DEPRECIATION
At 1 August 2022 - 120,691 16,658 13,476 150,825
Charge for year - 8,443 916 1,008 10,367
At 31 July 2023 - 129,134 17,574 14,484 161,192
NET BOOK VALUE
At 31 July 2023 880,588 28,320 2,748 4,742 916,398
At 31 July 2022 874,776 32,920 3,664 422 911,782

Long Leasehold assets are not depreciated as they are maintained to such a degree that their residual value is at least equal to their cost.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 434,084 650,261
Amounts owed by group undertakings 248,057 61,374
Amounts recoverable on contract 1,707,945 613,659
Tax - 46,486
VAT 351,036 197,297
Prepayments and accrued income 78,695 61,766
2,819,817 1,630,843

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,556,608 1,614,770
Tax 192,146 -
Social security and other taxes 39,736 37,464
Other creditors 24,952 24,952
Accrued expenses 371,888 354,259
3,185,330 2,031,445

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 103,059 50,583
Between one and five years 397,086 3,788
In more than five years 465,194 -
965,339 54,371

8. SECURED DEBTS

There is an unlimited debenture and a letter of set off in place across the company. This is with UK Docks Marine Services North.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David J Cook FCCA (Senior Statutory Auditor)
for and on behalf of TTR Barnes Limited

10. RELATED PARTY DISCLOSURES

Associated Parties 2023 2022
£    £   

Amounts due to associated company 152,303 80,649

No interest was charged.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

11. AUDITOR LIABILITY LIMITATION AGREEMENT

The limitation of liability in respect of this audit is 10 times the audit fee which was agreed in our terms of engagement letter dated 1st August 2022.

12. PARENT COMPANY

The ultimate parent company is Wilson Group Holdings Limited, a company registered in England and Wales.

Wilson Group Holdings Limited prepare group financial statements and the registered office is River Drive, South Shields, Tyne and Wear, NE33 1LH.