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REGISTERED NUMBER: 09120565 (England and Wales)













Group Strategic Report,

Report of the Directors and

Audited

Consolidated Financial Statements

for the Year Ended 31 July 2024

for

Wilson Group Holdings Limited

Wilson Group Holdings Limited (Registered number: 09120565)






Contents of the Consolidated Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Wilson Group Holdings Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: H Wilson
G Wilson
J Wilson
C Wilson
J G Armstrong





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





REGISTERED NUMBER: 09120565 (England and Wales)





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

Wilson Group Holdings Limited (Registered number: 09120565)

Group Strategic Report
for the year ended 31 July 2024

The directors present their strategic report of the company and the group for the year ended 31 July 2024.

The principal activity of UK Docks Marine Services North Limited, UK Docks Marine Services South Limited, UK Docks Marine Services Teesside Limited, UK Docks Marine Services Mashfords Limited and UK Docks Marine Services Royal Clarence is that of ship repairs and maintenance.The principal activity of Whinstone View Limited is that of a wedding, bistro and hospitality venue

The directors consider it appropriate to adopt the going concern basis of accounting to prepare the financial statements.

REVIEW OF BUSINESS
The group had a satisfactory year of trading with good sales and net profit.

A key performance indicator used by the directors is gross profit percentage together with profit and sales growth. Details are shown below:-


2024 2023 2022 2021 2020
Turnover £51,575,517 £33,630,912 £28,729,622 £30,472,307 £26,999,147
Gross
Profit

£12,899,172

£11,055,807

£9,064,401

£7,508,518

£5,470,350
GP % 25.01% 32.87% 31.55% 24.64% 20.35%


The Group has seen a decrease in the GP%, as a result of the changing sales mix of the business. As the business has grown the nature of work, has evolved to include more long term contracting work, which provides a secure pipeline of work, but does have slightly lower margins.

The order book remains healthy for the Group, and the Group continues to grow its order pipeline and grow the business. The owners of the Group continue to re-invest majority of profits generated to sustainably grow the business.

In March 2025 the business committed to a long term lease on a neighbouring part of Teesport commerce park, in order to increase capacity within a UK Docks Marine Services Teesside Limited, to prepare for future growth.


Wilson Group Holdings Limited (Registered number: 09120565)

Group Strategic Report
for the year ended 31 July 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The directors are of the opinion that the principal risk the group faces is economic risk and general difficult trading conditions that continue within some of its markets.

At present, the directors feel that the general business environment is relatively stable and that good trading relationships exist with customers. The focus for the future is to increase market share and become the customers preferred choice.

The directors continually review the risks and uncertainties during the year and performance would appear reasonable.

FINANCIAL RISK MANAGEMENT
The group's operations may expose it to a variety of financial risks that include the effects of changes in prices, liquidity risk currency movements and interest rate risk. The group seeks to limit the adverse effect on the financial performance of the group as follows :

Price risk
The directors monitor movements in market prices on a regular basis as these price movements relate to increasing sub contractor and material prices. The group has no exposure to equity securities price risk as it holds no listed or other equity investments.

Credit risk
The group has policies in place that require credit checks on potential customers before and after contracts are entered into.

Liquidity risk
The group actively maintains sufficient liquid working capital balances to fund its operations and is, therefore, not subject to significant liquidity risk.

Interest rate risk
The group holds interest bearing assets and liabilities. Cash balances earn interest at variable rates, the directors consider interest rate risk on cash balances to be minimal.

Currency movements
The group carries out minimal transactions in other currencies. The directors monitor the movement in those currencies and seek to minimise any risk.

APPROVED AND AUTHORISED FOR ISSUE BY THE BOARD:





J G Armstrong - Director


28 April 2025

Wilson Group Holdings Limited (Registered number: 09120565)

Report of the Directors
for the year ended 31 July 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 July 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of ship repairs and maintenance and a wedding, bistro and hospitality venue

DIVIDENDS
Interim dividends per share were paid during the year as follows:
B Ordinary £1 - £20333.333
C Ordinary £1 - £20333.333
D Ordinary £1 - £20333.333
E Ordinary £1 - £18000

The total distribution of dividends for the year ended 31 July 2024 will be £ 933,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

H Wilson
G Wilson
J Wilson
C Wilson

Other changes in directors holding office are as follows:

J G Armstrong was appointed as a director after 31 July 2024 but prior to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
The principal risks and uncertainties of the group together with a business review are disclosed within the strategic report of the company on pages 2-3 of the accounts.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Wilson Group Holdings Limited (Registered number: 09120565)

Report of the Directors
for the year ended 31 July 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, TTR Barnes Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

APPROVED AND AUTHORISED FOR ISSUE BY THE BOARD:





J G Armstrong - Director


28 April 2025

Report of the Independent Auditors to the Members of
Wilson Group Holdings Limited

Opinion
We have audited the financial statements of Wilson Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 July 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Wilson Group Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Wilson Group Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the companies through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sectors;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
- and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Wilson Group Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David J Cook FCCA (Senior Statutory Auditor)
for and on behalf of TTR Barnes Limited
Chartered Accountants and Statutory Auditors
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

29 April 2025

Wilson Group Holdings Limited (Registered number: 09120565)

Consolidated
Statement of Comprehensive
Income
for the year ended 31 July 2024

2024 2023
Notes £    £   

TURNOVER 3 51,575,517 33,630,912

Cost of sales 38,676,345 22,575,105
GROSS PROFIT 12,899,172 11,055,807

Administrative expenses 6,535,414 4,712,253
6,363,758 6,343,554

Other operating income 4 290,631 247,720
OPERATING PROFIT 6 6,654,389 6,591,274

Interest receivable and similar income 8 130,688 5,051
6,785,077 6,596,325

Interest payable and similar expenses 9 7,955 14,070
PROFIT BEFORE TAXATION 6,777,122 6,582,255

Tax on profit 10 1,836,984 1,563,116
PROFIT FOR THE FINANCIAL YEAR 4,940,138 5,019,139

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

4,940,138

5,019,139

Profit attributable to:
Owners of the parent 4,940,138 5,019,139

Total comprehensive income attributable to:
Owners of the parent 4,940,138 5,019,139

Wilson Group Holdings Limited (Registered number: 09120565)

Consolidated Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 13 764,579 1,069,291
Tangible assets 14 8,866,993 6,161,619
Investments 15 - -
9,631,572 7,230,910

CURRENT ASSETS
Stocks 16 242,224 28,362
Debtors 17 13,301,126 11,703,064
Cash at bank and in hand 18,820,142 8,051,440
32,363,492 19,782,866
CREDITORS
Amounts falling due within one year 18 18,568,963 7,655,639
NET CURRENT ASSETS 13,794,529 12,127,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,426,101

19,358,137

CREDITORS
Amounts falling due after more than one
year

19

(57,459

)

(138,450

)

PROVISIONS FOR LIABILITIES 22 (353,986 ) (212,169 )
NET ASSETS 23,014,656 19,007,518

CAPITAL AND RESERVES
Called up share capital 23 100 100
Retained earnings 24 23,014,556 19,007,418
SHAREHOLDERS' FUNDS 23,014,656 19,007,518

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





G Wilson - Director


Wilson Group Holdings Limited (Registered number: 09120565)

Company Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 13 - -
Tangible assets 14 2,164,170 773,700
Investments 15 450,401 450,401
2,614,571 1,224,101

CURRENT ASSETS
Debtors 17 7,388,773 7,891,295
Cash at bank 4,599,894 2,857,458
11,988,667 10,748,753
CREDITORS
Amounts falling due within one year 18 2,084,850 32,452
NET CURRENT ASSETS 9,903,817 10,716,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,518,388

11,940,402

CAPITAL AND RESERVES
Called up share capital 23 100 100
Retained earnings 24 12,518,288 11,940,302
SHAREHOLDERS' FUNDS 12,518,388 11,940,402

Company's profit for the financial year 1,510,986 1,744,095

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





G Wilson - Director


Wilson Group Holdings Limited (Registered number: 09120565)

Consolidated Statement of Changes in Equity
for the year ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 100 14,660,279 14,660,379

Changes in equity
Dividends - (672,000 ) (672,000 )
Total comprehensive income - 5,019,139 5,019,139
Balance at 31 July 2023 100 19,007,418 19,007,518

Changes in equity
Dividends - (933,000 ) (933,000 )
Total comprehensive income - 4,940,138 4,940,138
Balance at 31 July 2024 100 23,014,556 23,014,656

Wilson Group Holdings Limited (Registered number: 09120565)

Company Statement of Changes in Equity
for the year ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 100 10,868,207 10,868,307

Changes in equity
Dividends - (672,000 ) (672,000 )
Total comprehensive income - 1,744,095 1,744,095
Balance at 31 July 2023 100 11,940,302 11,940,402

Changes in equity
Dividends - (933,000 ) (933,000 )
Total comprehensive income - 1,510,986 1,510,986
Balance at 31 July 2024 100 12,518,288 12,518,388

Wilson Group Holdings Limited (Registered number: 09120565)

Consolidated Cash Flow Statement
for the year ended 31 July 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 16,511,189 3,582,117
Interest paid (2,751 ) (8,015 )
Interest element of hire purchase payments
paid

(5,204

)

(6,055

)
Tax paid (1,956,333 ) (884,517 )
Net cash from operating activities 14,546,901 2,683,530

Cash flows from investing activities
Purchase of intangible fixed assets - (9,329 )
Purchase of tangible fixed assets (2,901,906 ) (1,252,921 )
Sale of tangible fixed assets - 101,897
Interest received 130,688 5,051
Net cash from investing activities (2,771,218 ) (1,155,302 )

Cash flows from financing activities
Capital repayments in year (73,981 ) (33,908 )
Amount introduced by directors - 61,349
Amount withdrawn by directors - (8,349 )
Equity dividends paid (933,000 ) (672,000 )
Net cash from financing activities (1,006,981 ) (652,908 )

Increase in cash and cash equivalents 10,768,702 875,320
Cash and cash equivalents at beginning of
year

2

8,051,440

7,176,120

Cash and cash equivalents at end of year 2 18,820,142 8,051,440

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Cash Flow Statement
for the year ended 31 July 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 6,777,122 6,582,255
Depreciation charges 479,994 418,419
Loss/(profit) on disposal of fixed assets 21,250 (18,762 )
Amounts recoverable on contract - (3,527,348 )
Finance costs 7,955 14,070
Finance income (130,688 ) (5,051 )
7,155,633 3,463,583
Increase in stocks (213,862 ) (7,259 )
Increase in trade and other debtors (1,619,772 ) (2,134,865 )
Increase in trade and other creditors 11,189,190 2,260,658
Cash generated from operations 16,511,189 3,582,117

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31/7/24 1/8/23
£    £   
Cash and cash equivalents 18,820,142 8,051,440
Year ended 31 July 2023
31/7/23 1/8/22
£    £   
Cash and cash equivalents 8,051,440 7,176,120


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/8/23 Cash flow At 31/7/24
£    £    £   
Net cash
Cash at bank and in hand 8,051,440 10,768,702 18,820,142
8,051,440 10,768,702 18,820,142
Debt
Finance leases (200,797 ) 73,981 (126,816 )
(200,797 ) 73,981 (126,816 )
Total 7,850,643 10,842,683 18,693,326

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Wilson Group Holdings 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 General 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" 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.

Basis of consolidation
The financial statements consolidate the financial statements of Wilson Group Holdings limited and its subsidiaries; UK Docks Marine Services North Limited, UK Docks Marine Services South Limited, UK Docks Marine Services Teesside Limited, Whinstone View Limited, UK Docks Royal Clarence Yard Limited, UKDocks Mashfords Limited. The financial statements are made up to 31 July 2024. Transactions between group companies have been eliminated on consolidation. No separate profit and loss account for Wilson Group Holdings Limited is presented as permitted by Section 406 of the Companies Act 2006.

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.

Significant judgements and estimates
The following judgements and estimates have been made in the process of applying the above accounting policies that have had the most significant affect on amounts recognised in financial statements;

Deposits
Deposits are monies paid in advance for hotel events and stays and they are an area subject to significant judgement on when the monies should be recognised as income. The accounting judgement is that monies are to be held on the deposits ledger for future events and should not be recognised as income in the financial year until the services have been provided.

Amounts recoverable on contract
management review contracts and work completed to date to estimate the stage of completion of the projects. THey also use their knowledge in the area to determine if there are any losses to be recognised.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset. An estimate of the useful economic life of the asset have been detailed in the depreciation accounting policy.

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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

Income recognition
Where there are contracts which are gradually performed over time, revenue is recognised by reference to an assessment of the fair value of the services provided as a proportion of the total fair value of the contract.

When the company receives the deposit it is recognised as a liability, and once the company carries out the event the deposit is recognised in turnover.

Long-term contract income
For our long-term contracts, because of control transferring over time, revenue is recognised based on the extent of progress towards completion of the performance obligations. We use the cost-to-cost measure of progress for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation.
Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. Any expected losses on maintenance and repair type contracts in progress are charged to earnings, in total, in the period the losses are recognised in provision's.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Assets under construction - not provided
Long leasehold - Straight line over the term of the lease
Improvements to property - 3% on cost and not provided
Plant and machinery - 25% on reducing balance, 20% on reducing balance and 15% straight line
Fixtures and fittings - 25% Straight line and 25% on reducing balance
Motor vehicles - 25% Straight line, 25% on reducing balance and 5% on reducing balance
Computer equipment - 33% Straight line and 25% on reducing balance

Improvements to property is depreciated at varied rates based on the useful life of the individual asset.
Leasehold property have no formal lease agreement and so additions have not been depreciated.
Land is not depreciated as it expected to appreciate over time.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Assets
Short term assets including prepayments and trade debtors are measured at transaction price. Other financial assets including cash are measured at fair value.

Liabilities
Short term liabilities including trade creditors and accruals are measured at transaction price. Other financial liabilities including loans are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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.

Customer deposits
When the company receives the deposit it is recognised as a liability, and once the company carries out the event the deposit is recognised in turnover.

3. TURNOVER

The revenue shown in the consolidated income statement was made up as follows:


2024 2023
£ £   

Ship repair and maintenance 48,135,021 29,882,600
Marine boat storage facilities 1,025,289 705,779
Hotel accommodation and events 2,415,207 2,049,997
Total revenue 51,575,517 32,638,376

4. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts 100,047 30,238
Commission receivable 109,499 147,740
Hire of plant and machinery 76,453 67,870
Rent deductions 4,632 1,872
290,631 247,720

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 6,735,022 4,870,410
Social security costs 646,145 449,312
Other pension costs 99,584 74,049
7,480,751 5,393,771

The average number of employees during the year was as follows:
2024 2023

Directors 5 5
Administration 28 24
Production 199 156
232 185

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

5. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 26,024 74,771

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 479,957 387,940
Depreciation - owned assets 169,731 110,534
Depreciation - assets on hire purchase contracts 5,551 3,791
Loss/(profit) on disposal of fixed assets 21,250 (18,762 )
Goodwill amortisation 302,846 302,847
Computer software amortisation 1,866 1,246
Foreign exchange differences 61,036 521

7. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

83,981

68,000
Auditors' remuneration for non audit work 30,716 23,333

8. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 117,338 3,985
Other interest 2,315 -
Corporation tax interest 11,035 1,066
130,688 5,051

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Discounted interest charge 2,751 8,015
Hire purchase 5,204 6,055
7,955 14,070

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,695,432 1,428,290
Prior year corporation tax adj (265 ) -
Interest received on tax - (5,561 )
Total current tax 1,695,167 1,422,729

Deferred tax 141,817 140,387
Tax on profit 1,836,984 1,563,116

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 6,777,122 6,582,255
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21.010 %)

1,694,281

1,382,932

Effects of:
Expenses not deductible for tax purposes 11,867 13,400
Capital allowances in excess of depreciation (4,865 ) -
Depreciation in excess of capital allowances - 28,997
Deferred Tax 141,819 133,619


Rounding (2 ) -
Losses - 5,878


Previous year adjustment (265 ) -
Adjustment for change in tax rate - (3,990 )
Structural and buildings allowance (5,851 ) 2,280
Total tax charge 1,836,984 1,563,116

11. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

12. DIVIDENDS
2024 2023
£    £   
B Ordinary shares of £1 each
Interim 305,000 218,000
C Ordinary shares of £1 each
Interim 305,000 218,000
D Ordinary shares of £1 each
Interim 305,000 218,000
E Ordinary share of £1
Interim 18,000 18,000
933,000 672,000

13. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 (1,266,911 ) 9,329 (1,257,582 )
AMORTISATION
At 1 August 2023 (2,328,119 ) 1,246 (2,326,873 )
Amortisation for year 302,846 1,866 304,712
At 31 July 2024 (2,025,273 ) 3,112 (2,022,161 )
NET BOOK VALUE
At 31 July 2024 758,362 6,217 764,579
At 31 July 2023 1,061,208 8,083 1,069,291

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

14. TANGIBLE FIXED ASSETS

Group
Assets Improvements
Freehold under Long to
property construction leasehold property
£    £    £    £   
COST
At 1 August 2023 2,918,828 - 1,155,012 1,658,396
Additions 1,390,470 397,334 72,242 583,383
Disposals - - - -
At 31 July 2024 4,309,298 397,334 1,227,254 2,241,779
DEPRECIATION
At 1 August 2023 - - 55,351 1,796
Charge for year - - 9,891 5,118
Eliminated on disposal - - - -
At 31 July 2024 - - 65,242 6,914
NET BOOK VALUE
At 31 July 2024 4,309,298 397,334 1,162,012 2,234,865
At 31 July 2023 2,918,828 - 1,099,661 1,656,600

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 571,624 189,064 94,499 71,011 6,658,434
Additions 356,724 77,559 2,500 21,694 2,901,906
Disposals (3,758 ) (33,569 ) - - (37,327 )
At 31 July 2024 924,590 233,054 96,999 92,705 9,523,013
DEPRECIATION
At 1 August 2023 319,366 62,597 13,045 44,660 496,815
Charge for year 104,462 34,609 8,530 12,672 175,282
Eliminated on disposal (748 ) (15,329 ) - - (16,077 )
At 31 July 2024 423,080 81,877 21,575 57,332 656,020
NET BOOK VALUE
At 31 July 2024 501,510 151,177 75,424 35,373 8,866,993
At 31 July 2023 252,258 126,467 81,454 26,351 6,161,619

The loans included within creditors are secured by way of a debenture over the property of the Group.
Assets held on Hire purchases are secured against the asset.

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

14. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 25,995
DEPRECIATION
At 1 August 2023 3,791
Charge for year 5,551
At 31 July 2024 9,342
NET BOOK VALUE
At 31 July 2024 16,653
At 31 July 2023 22,204

Company
Freehold
property
£   
COST
At 1 August 2023 773,700
Additions 1,390,470
At 31 July 2024 2,164,170
NET BOOK VALUE
At 31 July 2024 2,164,170
At 31 July 2023 773,700

15. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 450,401
NET BOOK VALUE
At 31 July 2024 450,401
At 31 July 2023 450,401


Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

15. FIXED ASSET INVESTMENTS - continued


The following subsidiaries form part of the Wilson Group Holdings Limited Group:

UK Docks Marine Services North Limited
The principal activity of this company is that of marine engineering, ship repair and maintenance

UK Docks Marine Services South Limited
The principal activity of this company is that of marine engineering, ship repair and maintenance

UK Docks Marine Services Teesside Limited
The principal activity of this company is marine engineering, ship repair and maintenance.

UKDocks Mashfords Limited
The principal activity of this company is that of marine engineering, ship repair and maintenance

UK Docks Royal Clarence Limited
The principal activity of this company is that of marine engineering, ship repair and maintenance

Whinstone View Limited
The principal activity of the company is that of a wedding, bistro and hospitality venue.

100% of share capital and voting rights in the subsidiaries is owned by Wilson Group Holding Limited as shown:


Number
of shares:

Class:
Nominal
Value:

£   
UK Docks Marine Services North Limited 54 A Ordinary £1 54
15 B Ordinary £1 15
15 C Ordinary £1 15
15 D Ordinary £1 15
1 E Ordinary £1 1
100

UK Docks Marine Services South Limited 54 A Ordinary £1 54
15 B Ordinary £1 15
15 C Ordinary £1 15
15 D Ordinary £1 15
1 E Ordinary £1 1
100

UK Docks Marine Services Teesside Limited 54 A Ordinary £1 54
15 B Ordinary £1 15
15 C Ordinary £1 15
15 D Ordinary £1 15
1 E Ordinary £1 1
100

UKDocks Mashfords Limited 4 A Ordinary £1 4


UKDocks Royal Clarence Limited 1 Ordinary £1 1


Whinstone View Limited 100 Ordinary £1 100

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

15. FIXED ASSET INVESTMENTS - continued





405

Each of the companies within Wilson Group Holdings Limited operate from the same registered office, being:

River Drive
South Shields
Tyne & Wear
NE33 1LH

16. STOCKS

Group
2024 2023
£    £   
Stocks 34,275 28,362
Work-in-progress 207,949 -
242,224 28,362

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,830,362 1,906,079 - -
Amounts owed by group undertakings - - 5,300,192 6,048,186
Amounts recoverable on contract 6,163,022 6,788,008 - -
Other debtors 2,860,600 2,454,301 2,088,581 1,843,109
Tax 34,562 56,272 - -
VAT 206,963 264,305 - -
Prepayments and accrued income 2,180,484 234,099 - -
Prepayments 25,133 - - -
13,301,126 11,703,064 7,388,773 7,891,295

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 20) 69,357 62,347 - -
Trade creditors 7,606,152 4,892,549 - -
Amounts owed to group undertakings - - 2,060,397 -
Tax 510,663 793,539 - -
Social security and other taxes 162,754 149,210 - -
Other creditors 33,601 153,387 2,453 2,452
Customer Deposits 229,495 293,596 - -
Deferred income 7,858,510 540,152 - -
Accrued expenses 2,098,431 770,859 22,000 30,000
18,568,963 7,655,639 2,084,850 32,452

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 20) 57,459 138,450

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 69,357 62,347
Between one and five years 57,459 138,450
126,816 200,797

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 350,143 349,748
Between one and five years 822,185 967,431
In more than five years 1,912,673 2,080,944
3,085,001 3,398,123

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 126,816 200,797

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

There is a group offset agreement in place between UK Docks Marine Services South Ltd, UK Docks Marine Services North Ltd and UK Docks Marine Services Teesside Ltd.

There is a 1st legal charge over cash in place dated 10/07/2023 in UK Docks Marine Services North Limited.

There is an unlimited debenture dated 27/9/2002 in UK Docks Marine Services North Limited.

22. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 353,986 212,169

Group
Deferred
tax
£   
Balance at 1 August 2023 212,169
Provided during year 141,817
Balance at 31 July 2024 353,986

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
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

Called up share capital represents the nominal value of the shares that have been issued.

All shares have full voting, dividend and capital distribution rights (upon winding up).

Wilson Group Holdings Limited (Registered number: 09120565)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 July 2024

24. RESERVES

Group
Retained
earnings
£   

At 1 August 2023 19,007,418
Profit for the year 4,940,138
Dividends (933,000 )
At 31 July 2024 23,014,556

Company
Retained
earnings
£   

At 1 August 2023 11,940,302
Profit for the year 1,510,986
Dividends (933,000 )
At 31 July 2024 12,518,288


25. RELATED PARTY DISCLOSURES

2024 2023
£    £   
Key Management
Key management remuneration 357,040 61,320

Other related party
Transfers 70,734 1,093,285
Balance 1,940,743 1,870,009

No interest was charged.

26. 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 2023.

27. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Wilson by virtue of their majority shareholding.