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REGISTERED NUMBER: 02839092 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SEAWORK MARINE SERVICES LIMITED

SEAWORK MARINE SERVICES LIMITED (REGISTERED NUMBER: 02839092)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SEAWORK MARINE SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTOR: A W S Baillie





SECRETARY: A W S Baillie





REGISTERED OFFICE: 24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA





REGISTERED NUMBER: 02839092 (England and Wales)





ACCOUNTANTS: Richard Small & Co
Chartered Accountants
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
SO53 2GA

SEAWORK MARINE SERVICES LIMITED (REGISTERED NUMBER: 02839092)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,064 134,311

CURRENT ASSETS
Debtors 5 129,487 76,390
Cash at bank and in hand 315,527 366,063
445,014 442,453
CREDITORS
Amounts falling due within one year 6 87,840 84,417
NET CURRENT ASSETS 357,174 358,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,238

492,347

PROVISIONS FOR LIABILITIES 25,267 25,267
NET ASSETS 477,971 467,080

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 477,969 467,078
SHAREHOLDERS' FUNDS 477,971 467,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 30 January 2025 and were signed by:



A W S Baillie - Director


SEAWORK MARINE SERVICES LIMITED (REGISTERED NUMBER: 02839092)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Seawork Marine Services 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.

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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

SEAWORK MARINE SERVICES LIMITED (REGISTERED NUMBER: 02839092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 293,321 37,303 37,995 368,619
Additions 27,891 - - 27,891
Disposals - - (3,400 ) (3,400 )
At 30 April 2024 321,212 37,303 34,595 393,110
DEPRECIATION
At 1 May 2023 177,634 31,992 24,682 234,308
Charge for year 11,579 1,057 2,453 15,089
Eliminated on disposal - - (2,351 ) (2,351 )
At 30 April 2024 189,213 33,049 24,784 247,046
NET BOOK VALUE
At 30 April 2024 131,999 4,254 9,811 146,064
At 30 April 2023 115,687 5,311 13,313 134,311

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 56,662 39,672
Amounts owed by group undertakings 4,254 4,764
Other debtors 68,571 31,954
129,487 76,390

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 37,283 9,306
Taxation and social security 46,907 69,461
Other creditors 3,650 5,650
87,840 84,417

SEAWORK MARINE SERVICES LIMITED (REGISTERED NUMBER: 02839092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

7. RELATED PARTY DISCLOSURES

The Company performed work for Diving Equipment Services Ltd during the year of £Nil [2023 £Nil]. The balance outstanding from that company at 30 April 2024 amounted to £Nil (2023 - £4,324).

The Company paid costs on behalf of Diving Equipment Services Ltd during the year of £Nil [2023 £18,933]. The balance outstanding from that company at 30 April 2024 amounted to £Nil (2022 - £14,608).

During the year funds were advanced from Diving Equipment Services Ltd and the balance due to that company at 30 April 2024 amounted to £41,000 (2023 - £Nil).

The Company paid costs on behalf of Sub Surface Engineering Ltd during the year of £Nil [2023 £Nil]. The balance outstanding from that company at 30 April 2024 amounted to £Nil (2023 - £440).

Diving Equipment Services Ltd and Sub Surface Engineering Ltd are related parties as they are under the common control of the Director of Seawork Marine Services Limited.

8. ULTIMATE CONTROLLING PARTY

The controlling party is A W S Baillie.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SEAWORK MARINE SERVICES LIMITED

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 Seawork Marine Services Limited for the year ended 30 April 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Seawork Marine Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Seawork Marine Services Limited and state those matters that we have agreed to state to the director of Seawork Marine Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seawork Marine Services Limited and its director for our work or for this report.

It is your duty to ensure that Seawork Marine Services Limited 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 Seawork Marine Services Limited. You consider that Seawork Marine Services Limited 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 Seawork Marine Services Limited. 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.






Richard Small & Co
Chartered Accountants
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
SO53 2GA


Date: 30 January 2025