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HYSERVE MARINE LIMITED

Registered Number
13488174
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

HYSERVE MARINE LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

CROSSMAN, John George
DARDILLAC, Jerome Marcel Henri

Registered Address

The Old Workshop
Wimbourne Quay
Blyth
NE24 1PX

Registered Number

13488174 (England and Wales)
HYSERVE MARINE LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets320,36223,601
20,36223,601
Current assets
Debtors4122,97849,286
Cash at bank and on hand49,43845,549
172,41694,835
Creditors amounts falling due within one year5(128,836)(45,100)
Net current assets (liabilities)43,58049,735
Total assets less current liabilities63,94273,336
Net assets63,94273,336
Capital and reserves
Called up share capital100100
Profit and loss account63,84273,236
Shareholders' funds63,94273,336
The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2025, and are signed on its behalf by:
CROSSMAN, John George
Director
Registered Company No. 13488174
HYSERVE MARINE LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Vehicles5
Office Equipment4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 2310,10019,0661,57130,737
Additions1,000-2,0333,033
At 31 July 2411,10019,0663,60433,770
Depreciation and impairment
At 01 August 231,5555,0844977,136
Charge for year2,0233,8144356,272
At 31 July 243,5788,89893213,408
Net book value
At 31 July 247,52210,1682,67220,362
At 31 July 238,54513,9821,07423,601
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables104,00638,079
Other debtors18,97210,556
Prepayments and accrued income-651
Total122,97849,286
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables72,9489,278
Amounts owed to related parties2,2472,247
Taxation and social security46,66120,785
Finance lease and HP contracts4,76711,122
Other creditors1,463918
Accrued liabilities and deferred income750750
Total128,83645,100
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.