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REGISTERED NUMBER: 12370276 (England and Wales)













Financial Statements

for the Year Ended 31 July 2023

for

UK Docks Royal Clarence Yard Ltd

UK Docks Royal Clarence Yard Ltd (Registered number: 12370276)






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 Royal Clarence Yard Ltd

Company Information
for the year ended 31 July 2023







DIRECTORS: J Wilson
H Wilson
G Wilson
C Wilson





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





REGISTERED NUMBER: 12370276 (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 Royal Clarence Yard Ltd (Registered number: 12370276)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,083 -
Tangible assets 5 1,566,292 650,187
1,574,375 650,187

CURRENT ASSETS
Debtors 6 144,455 72,115
Cash at bank 285,440 145,952
429,895 218,067
CREDITORS
Amounts falling due within one year 7 1,951,219 1,063,532
NET CURRENT LIABILITIES (1,521,324 ) (845,465 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,051

(195,278

)

PROVISIONS FOR LIABILITIES 107,726 -
NET LIABILITIES (54,675 ) (195,278 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (54,676 ) (195,279 )
(54,675 ) (195,278 )

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 Royal Clarence Yard Ltd (Registered number: 12370276)

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

1. STATUTORY INFORMATION

UK Docks Royal Clarence Yard Ltd 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, there was a net liability position at the balance sheet date, however the directors and group have confirmed continued support.

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

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Plant and machinery - 20% on reducing balance
Computer equipment - 33% Straight line

Depreciation is not provided for on improvements to property as it's maintained to such a state whereby it's residual value is equal to atleast that of it's 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 Royal Clarence Yard Ltd (Registered number: 12370276)

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 9,329
At 31 July 2023 9,329
AMORTISATION
Amortisation for year 1,246
At 31 July 2023 1,246
NET BOOK VALUE
At 31 July 2023 8,083

UK Docks Royal Clarence Yard Ltd (Registered number: 12370276)

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

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 August 2022 627,027 26,615 590 654,232
Additions 864,930 59,974 943 925,847
At 31 July 2023 1,491,957 86,589 1,533 1,580,079
DEPRECIATION
At 1 August 2022 - 3,818 227 4,045
Charge for year - 9,315 427 9,742
At 31 July 2023 - 13,133 654 13,787
NET BOOK VALUE
At 31 July 2023 1,491,957 73,456 879 1,566,292
At 31 July 2022 627,027 22,797 363 650,187

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 138,857 67,551
Other debtors - 483
Prepayments and accrued income 5,598 4,081
144,455 72,115

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 53,291 12,840
Amounts owed to group undertakings 1,759,289 1,002,952
Tax 25,006 -
VAT 9,513 3,621
Accrued expenses 104,120 44,119
1,951,219 1,063,532

8. 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

9. 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.

UK Docks Royal Clarence Yard Ltd (Registered number: 12370276)

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

10. 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 its registered office is River Drive, South Shields, Tyne and Wear, NE33 1LH.