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REGISTERED NUMBER: 07585952 (England and Wales)













Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 July 2024

for

UK Docks Marine Services Teesside
Limited

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 10

Statement of Financial Position 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


UK Docks Marine Services Teesside
Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: H Wilson
G Wilson
J Wilson
C Wilson
S W Syvret
J G Armstrong





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





REGISTERED NUMBER: 07585952 (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 Teesside
Limited (Registered number: 07585952)

Strategic Report
for the year ended 31 July 2024

The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The company activity is that of marine engineering, ship repair and maintenance.

The directors feel at present, the market for the industry is positive and trading conditions have remained strong.

A key performance indicator used by the director's is turnover achieved and gross profit percentage generated. Results for the year under review indicate that turnover has increased and profitability has increased, both being in line with company objectives.

Key financial results are as follow :

2024 2023 2022 2021 2020
£ £ £ £ £
Sales 11,629,486 12,585,633 10,116,825 13,862,114 7,180,664
Cost of Sales 8,478,962 9,755,595 8,054,077 10,889,962 6,086,980
Gross profit % 27.09% 22.49% 20.39% 21.44% 15.23%

The company has seen an increase in GP%, this was expected due to position of contracts and being well established.

The directors are satisfied with results of the year, but recognise the business operates in a very competitive market place.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors are of the opinion that the principal risk for the company is that of economic risk and the general difficult trading conditions that exist in some of the companies markets.

At present, the directors feel that the general business environment is relatively stable and that good trading relations exist with both suppliers and customers.

The directors continually review the risks and uncertainties and are proactive to reduce these.


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

Price Risk
The directors monitor movements in market prices on a regular basis. The company's exposure to equity securities price risk is also closely monitored and the investments are actively managed to avoid any significant risk of losses.

Credit Risk
The company is mostly credit based and therefore risk is considered high. Extensive credit and background checks are required before and after contracts are entered into.

Liquidity Risk
The company has good cash reserves and actively maintains sufficient liquid working capital balances to fund operations, therefore, is no subject to significant liquidity risk.

Currency Movements
The company carries out minimal transactions in currencies other than GBP. Directors monitor currency movements and trends to seek to minimise risks from such,

Interest Rate Risk
The company does not have any borrowings or any other interest bearing liabilities. Cash balances earn interest at variable rates, the directors consider the risk from interest rates is minimal.


UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Strategic Report
for the year ended 31 July 2024

FUTURE DEVELOPMENTS
The directors anticipate the business environment will remain competitive. They believe the company is in a good financial position and that the risks identified have been mitigated. The directors are confident in the company's ability to maintain and build on the current market position.

In March 2025, the company invested in expanding its operational capacity, with the commitment of a new long term lease at a site adjoining its existing facilities on Teesport Commerce park. With the addition of the new site broadly doubling the operational capacity of the business, the Directors feel the business is well placed for continued growth. The company plans to make a further significant investment in the new site, in order to maximise all opportunities.

ON BEHALF OF THE BOARD:





J G Armstrong - Director


28 April 2025

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Report of the Directors
for the year ended 31 July 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of marine engineers.

DIVIDENDS
Interim dividends totalling £13351.5921 per share were paid on the A Ordinary £1 shares during the year. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 31 July 2024 will be £ 720,986 .

FUTURE DEVELOPMENTS
on 13 March 2025, the company invested in expanding its operational capacity, with the commitment of a new long term lease at a site adjoining its existing facilities on Teesport Commerce park. With the addition of the new site broadly doubling the operational capacity of the business, the Directors feel the business is well placed for continued growth. The company plans to make a further significant investment in the new site, in order to maximise all opportunities.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

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
S W Syvret

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.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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 company'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 company'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.

ON BEHALF OF THE BOARD:





J G Armstrong - Director


28 April 2025

Report of the Independent Auditors to the Members of
UK Docks Marine Services Teesside
Limited

Opinion
We have audited the financial statements of UK Docks Marine Services Teesside Limited (the 'company') for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 company's affairs as at 31 July 2024 and of its 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 company 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 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 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 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 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
UK Docks Marine Services Teesside
Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 Statement of Directors' Responsibilities 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
UK Docks Marine Services Teesside
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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- 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 company through discussions with directors and other
management, and from our commercial knowledge and experience of the do-it-yourself sector;
- 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 (including Waste Electrical and Electronic Equipment
recycling (WEEE) Regulations 2013) 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
UK Docks Marine Services Teesside
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

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Statement of Income and
Retained Earnings
for the year ended 31 July 2024

2024 2023
Notes £    £   

TURNOVER 3 11,629,485 12,585,633

Cost of sales 8,478,962 9,755,595
GROSS PROFIT 3,150,523 2,830,038

Administrative expenses 1,945,547 1,751,113
1,204,976 1,078,925

Other operating income 11,097 1,549
OPERATING PROFIT and
PROFIT BEFORE TAXATION 1,216,073 1,080,474

Tax on profit 7 309,188 237,716
PROFIT FOR THE FINANCIAL YEAR 906,885 842,758

Retained earnings at beginning of year 1,312,547 841,825

Dividends 8 (720,986 ) (372,036 )

RETAINED EARNINGS AT END OF
YEAR

1,498,446

1,312,547

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 9 970,349 916,398

CURRENT ASSETS
Debtors 10 2,240,625 3,776,146
Cash at bank and in hand 2,394,888 775,076
4,635,513 4,551,222
CREDITORS
Amounts falling due within one year 11 4,089,183 4,141,659
NET CURRENT ASSETS 546,330 409,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,516,679

1,325,961

PROVISIONS FOR LIABILITIES 14 18,133 13,314
NET ASSETS 1,498,546 1,312,647

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 1,498,446 1,312,547
SHAREHOLDERS' FUNDS 1,498,546 1,312,647

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


UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Statement of Cash Flows
for the year ended 31 July 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,721,301 817,220
Tax paid (313,541 ) 7,199
Net cash from operating activities 2,407,760 824,419

Cash flows from investing activities
Purchase of tangible fixed assets (66,962 ) (14,983 )
Net cash from investing activities (66,962 ) (14,983 )

Cash flows from financing activities
Amount introduced by directors 8,158 8,349
Amount withdrawn by directors (8,158 ) (8,349 )
Share issue - (100 )
Equity dividends paid (720,986 ) (372,036 )
Net cash from financing activities (720,986 ) (372,136 )

Increase in cash and cash equivalents 1,619,812 437,300
Cash and cash equivalents at beginning of
year

2

775,076

337,776

Cash and cash equivalents at end of year 2 2,394,888 775,076

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the Statement of Cash Flows
for the year ended 31 July 2024

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

2024 2023
£    £   
Profit before taxation 1,216,073 1,080,474
Depreciation charges 13,011 10,367
1,229,084 1,090,841
Decrease/(increase) in stocks 1,574,778 (1,094,286 )
Increase in trade and other debtors (39,257 ) (1,097,503 )
(Decrease)/increase in trade and other creditors (43,304 ) 1,918,168
Cash generated from operations 2,721,301 817,220

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 July 2024
31/7/24 1/8/23
£    £   
Cash and cash equivalents 2,394,888 775,076
Year ended 31 July 2023
31/7/23 1/8/22
£    £   
Cash and cash equivalents 775,076 337,776


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 775,076 1,619,812 2,394,888
775,076 1,619,812 2,394,888
Total 775,076 1,619,812 2,394,888

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

1. STATUTORY INFORMATION

UK Docks Marine Services Teesside 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" 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.

Significant judgements and estimates
The preparation of the financial statements require the use of estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Although these estimates and associated assumptions are based on historical experience and management knowledge, the actual results may differ from these estimates. The key estimates and assumptions to the company are considered to be:

Amounts recoverable on contract
Amounts recoverable are for works completed or in the latter stages of production, not yet billed. The accounting judgement is that these monies should be recognised as income now as the work has been completed and the monies are expected.

Depreciation
Depreciation is charged to reduce the carrying value of tangible fixed assets to their recoverable value. An estimate has been made for the useful lives of assets and their associated residual values.

Accruals
Inline with the framework income and expenses should be included in the period to which they relate. The estimate is that all of the future costs and and income relating to this accounting period have been included accurately.

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

Revenue represents the amount (excluding value added tax) derived from the provision of goods and services from the principle activity.

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
Computer equipment - 33% Straight line

Long Leasehold assets are not depreciated as they are maintained to such a degree that their residual value is at least equal to their cost.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

Notes to the 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 and amounts recoverable on contract are measured at fair value.

Liabilities
Short term liabilities including trade creditors, other creditors and accruals are measured at transaction price.

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 statement of financial position date.

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 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.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 9,996,336 11,546,023
Europe 1,633,149 1,039,610
11,629,485 12,585,633

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,897,257 1,624,985
Social security costs 167,617 134,209
Other pension costs 27,345 5,888
2,092,219 1,765,082

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

Direct 30 26
Admin 5 5
Directors 5 5
40 36

The staff are formally employed by UK Docks Marine Services North Limited and the costs of the employees are recharged to the company each month.

5. DIRECTORS' EMOLUMENTS

£206,000 worth of payments have been made for the directors in relation to defined benefit pension plans during the year (2023: NIL)

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 162,760 102,657
Depreciation - owned assets 13,011 10,367
Auditors' remuneration 14,360 6,900
Auditors' remuneration for non audit work 9,764 3,800

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

7. 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 304,369 231,433

Deferred tax 4,819 6,283
Tax on profit 309,188 237,716

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 1,216,073 1,080,474
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.010%)

304,018

227,008

Effects of:
Expenses not deductible for tax purposes 6,763 4,377
Capital allowances in excess of depreciation (6,413 ) -
Depreciation in excess of capital allowances - 98
Deferred tax 4,820 1,597
Tax rate difference - 4,636
Total tax charge 309,188 237,716

8. DIVIDENDS
2024 2023
£    £   
A Ordinary shares of £1 each
Dividends 720,986 372,036

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

9. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 880,588 157,454 20,322 19,226 1,077,590
Additions 36,394 24,340 528 5,700 66,962
At 31 July 2024 916,982 181,794 20,850 24,926 1,144,552
DEPRECIATION
At 1 August 2023 - 129,134 17,574 14,484 161,192
Charge for year - 9,369 717 2,925 13,011
At 31 July 2024 - 138,503 18,291 17,409 174,203
NET BOOK VALUE
At 31 July 2024 916,982 43,291 2,559 7,517 970,349
At 31 July 2023 880,588 28,320 2,748 4,742 916,398

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 307,413 434,084
Amounts owed by group undertakings 1,465,918 1,204,386
Amounts recoverable on contract 133,167 1,707,945
VAT 241,737 351,036
Prepayments and accrued income 92,390 78,695
2,240,625 3,776,146

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,014,120 2,556,608
Amounts owed to group undertakings 1,426,329 956,329
Tax 182,974 192,146
Social security and other taxes 36,242 39,736
Other creditors 24,952 24,952
Accrued expenses 404,566 371,888
4,089,183 4,141,659

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 99,271 103,059
Between one and five years 397,086 397,086
In more than five years 365,923 465,194
862,280 965,339

13. SECURED DEBTS

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

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 18,133 13,314

Deferred
tax
£   
Balance at 1 August 2023 13,314
Provided during year 4,819
Balance at 31 July 2024 18,133

15. 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 all shares that have been issued.

All ordinary shares carry full voting and dividend rights.

UK Docks Marine Services Teesside
Limited (Registered number: 07585952)

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

16. RELATED PARTY DISCLOSURES

2024 2023
£    £   
Key Management
Key management remuneration 390,445 384,198


Associates
Amounts owed to associates 245,423 152,303
Hire of equipment paid to associate 132,000 134,700
Management charge paid to associate 100,800 100,800
Insurance recharged from associate 4,598 4,182


17. 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 1 August 2023.

18. POST BALANCE SHEET EVENTS

On 13 March 2025, the company invested in expanding its operational capacity, with the commitment of a new long term lease at a site adjoining its existing facilities on Teesport Commerce park. The company plans to make a further significant investment in the new site, in order to maximise all opportunities.

19. PARENT COMPANY

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

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