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REGISTERED NUMBER: 04043381 (England and Wales)













Financial Statements

for the Year Ended 31 July 2023

for

UK Docks Marine Services South Limited

UK Docks Marine Services South Limited (Registered number: 04043381)






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 South Limited

Company Information
for the year ended 31 July 2023







DIRECTORS: H Wilson
D P Barley
G Wilson
C Wilson
J Wilson





SECRETARY: G Wilson





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





REGISTERED NUMBER: 04043381 (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 South Limited (Registered number: 04043381)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,270 257,248

CURRENT ASSETS
Debtors 5 987,281 1,000,771
Cash at bank 554,800 211,371
1,542,081 1,212,142
CREDITORS
Amounts falling due within one year 6 575,512 308,661
NET CURRENT ASSETS 966,569 903,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,180,839

1,160,729

CREDITORS
Amounts falling due after more than one
year

7

(119,148

)

(171,881

)

PROVISIONS FOR LIABILITIES (53,568 ) (48,877 )
NET ASSETS 1,008,123 939,971

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,008,023 939,871
SHAREHOLDERS' FUNDS 1,008,123 939,971

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 South Limited (Registered number: 04043381)

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

1. STATUTORY INFORMATION

UK Docks Marine Services South 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
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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 5% on reducing balance
Computer equipment - 33% Straight line

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 South Limited (Registered number: 04043381)

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 is in respect of revenue generating contracts entered into which are not yet complete. 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 22 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 280,054 48,272 76,504 25,519 430,349
Additions 11,597 1,025 - - 12,622
Disposals - - (8,000 ) - (8,000 )
At 31 July 2023 291,651 49,297 68,504 25,519 434,971
DEPRECIATION
At 1 August 2022 122,936 17,770 13,148 19,247 173,101
Charge for year 40,952 7,677 3,303 2,865 54,797
Eliminated on disposal - - (7,197 ) - (7,197 )
At 31 July 2023 163,888 25,447 9,254 22,112 220,701
NET BOOK VALUE
At 31 July 2023 127,763 23,850 59,250 3,407 214,270
At 31 July 2022 157,118 30,502 63,356 6,272 257,248

UK Docks Marine Services South Limited (Registered number: 04043381)

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 482,682 154,095
Amounts owed by group undertakings - 201,891
Amounts recoverable on contract 398,097 571,021
Tax 56,272 31,970
Prepayments and accrued income 50,230 41,794
987,281 1,000,771

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 57,779 62,824
Trade creditors 240,397 116,668
Amounts owed to group undertakings 65,900 -
Social security and other taxes 24,949 23,480
VAT 89,967 54,424
Accrued expenses 96,520 51,265
575,512 308,661

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 119,148 171,881

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 57,779 62,824
Between one and five years 119,148 171,881
176,927 234,705

Non-cancellable operating leases
2023 2022
£    £   
Within one year 121,169 52,627
Between one and five years 308,654 125,874
429,823 178,501

UK Docks Marine Services South Limited (Registered number: 04043381)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 176,927 234,705

Hire purchase contracts are secured upon the assets to which they relate.

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
54 A Ordinary £1 54 54
15 B Ordinary £1 15 15
15 C Ordinary £1 15 15
15 D Ordinary £1 15 15
1 E Ordinary £1 1 1
100 100

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

The Report of the Auditors was unqualified.

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

12. RELATED PARTY DISCLOSURES

Associated Parties 2023 2022
£    £   

Balance owed to associated company 3,480 3,480

No interest was charged.

13. 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.

14. PARENT COMPANY

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

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