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REGISTERED NUMBER: SC309430 (Scotland)




















RB MARINE SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

RB MARINE SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: C Reid





SECRETARY: S Reid





REGISTERED OFFICE: New Barremman Farm
Clynder
Helensburgh
G84 0QN





REGISTERED NUMBER: SC309430 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 312
Tangible assets 5 173,711 164,616
173,711 164,928

CURRENT ASSETS
Stocks 45,000 95,000
Debtors 6 2,372,319 2,211,157
Cash at bank 8,227 31,864
2,425,546 2,338,021
CREDITORS
Amounts falling due within one year 7 364,358 118,128
NET CURRENT ASSETS 2,061,188 2,219,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,234,899

2,384,821

CREDITORS
Amounts falling due after more than one
year

8

(54,780

)

(141,597

)

PROVISIONS FOR LIABILITIES 10 (42,211 ) (30,448 )
NET ASSETS 2,137,908 2,212,776

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 2,137,808 2,212,676
SHAREHOLDERS' FUNDS 2,137,908 2,212,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2024 and were signed by:




C Reid - Director


RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

RB Marine Services Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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.

Website Development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Website
Development
£   
COST
At 1 April 2023
and 31 March 2024 4,200
AMORTISATION
At 1 April 2023 3,888
Amortisation for year 312
At 31 March 2024 4,200
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 312

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 982,492 2,752 113,355 1,098,599
Additions 17,375 282 15,995 33,652
At 31 March 2024 999,867 3,034 129,350 1,132,251
DEPRECIATION
At 1 April 2023 857,498 2,271 74,214 933,983
Charge for year 13,611 167 10,779 24,557
At 31 March 2024 871,109 2,438 84,993 958,540
NET BOOK VALUE
At 31 March 2024 128,758 596 44,357 173,711
At 31 March 2023 124,994 481 39,141 164,616

RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 - 39,990 39,990
Additions - 15,995 15,995
Reclassification/transfer 25,000 - 25,000
At 31 March 2024 25,000 55,985 80,985
DEPRECIATION
At 1 April 2023 - 849 849
Charge for year 2,479 10,779 13,258
Reclassification/transfer 212 - 212
At 31 March 2024 2,691 11,628 14,319
NET BOOK VALUE
At 31 March 2024 22,309 44,357 66,666
At 31 March 2023 - 39,141 39,141

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 255,697 59,570
Amounts owed by group undertakings 1,952,500 2,004,623
Amounts owed by associates 130,279 142,279
Other debtors 2,905 255
Prepayments and accrued income 30,938 4,430
2,372,319 2,211,157

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,280 9,969
Hire purchase contracts 16,438 12,255
Trade creditors 19,092 5,124
Corporation tax 4,498 36,876
Social security and other taxes 12,102 3,000
VAT 68,997 16,978
Other creditors 8,675 1,505
Directors' current accounts 5,830 15,200
Accrued charges 184,446 17,221
364,358 118,128

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,062 52,480
Bank loans - 2-5 years 6,964 51,058
Hire purchase contracts 37,754 38,059
54,780 141,597

RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 54,192 50,314
Bank loans 34,264 76,728
88,456 127,042

Allica Bank Limited holds a Floating Charge over all property and assets owned by the company for amounts due or becoming due to the bank.

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 42,211 30,448

Deferred
tax
£   
Balance at 1 April 2023 30,448
Charge to Income Statement during year 11,763
Balance at 31 March 2024 42,211

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 April 2023 2,212,676
Profit for the year 26,132
Dividends (101,000 )
At 31 March 2024 2,137,808

13. RELATED PARTY DISCLOSURES

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.

RB MARINE SERVICES LTD (REGISTERED NUMBER: SC309430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. RELATED PARTY DISCLOSURES - continued

At the balance sheet date, an amount of £1,952,500 (2023: £2,004,623) was due by Reid & Bruce Holdings Ltd as a result of advances made by the company. This is included within other debtors.

At the balance sheet date, an amount of £130,279 (2023: £142,279) was due by Ribs Marine Services Ltd as a consequence of inter company trading during the year. This amount is included within other debtors. Management charges have been charged from the company to Ribs Marine Services, totalling £25,000 for management services rendered during the year.

The director C Reid is a director of R B Marine Services Ltd and Reid & Bruce Holdings Ltd.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the direct parent company, Reid & Bruce Holdings Limited (SC637949) a company registered in Scotland.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RB MARINE SERVICES LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RB Marine Services Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of RB Marine Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RB Marine Services Ltd and state those matters that we have agreed to state to the director of RB Marine Services Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that RB Marine Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RB Marine Services Ltd. You consider that RB Marine Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RB Marine Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


3 October 2024