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REGISTERED NUMBER: 09355739 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPECTRUM VESSEL SERVICES LIMITED

SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECTRUM VESSEL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: A J Cross
J Downton
J B Hanham
A J Smith
N E Wood





REGISTERED OFFICE: Stirley House
Ampress Lane
Lymington
Hampshire
SO41 8LW





REGISTERED NUMBER: 09355739 (England and Wales)

SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,176,570 1,833,033

CURRENT ASSETS
Debtors 5 1,148,047 452,836
Cash at bank 1,363,772 1,581,512
2,511,819 2,034,348
CREDITORS
Amounts falling due within one year 6 673,646 645,268
NET CURRENT ASSETS 1,838,173 1,389,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,014,743

3,222,113

CREDITORS
Amounts falling due after more than one
year

7

(9,167

)

(19,167

)

PROVISIONS FOR LIABILITIES (332,057 ) (340,705 )
NET ASSETS 3,673,519 2,862,241

CAPITAL AND RESERVES
Called up share capital 400,000 400,000
Retained earnings 3,273,519 2,462,241
SHAREHOLDERS' FUNDS 3,673,519 2,862,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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

SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)

BALANCE SHEET - continued
31 MARCH 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:




J B Hanham - Director J Downton - Director




A J Cross - Director A J Smith - Director




N E Wood - Director


SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Spectrum Vessel Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - None provided
Plant and machinery etc - 50% on cost, 25% on cost, 20% on reducing balance and Straight line over 25 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

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

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2024 310,327 2,097,803 2,408,130
Additions 406,379 19,677 426,056
At 31 March 2025 716,706 2,117,480 2,834,186
DEPRECIATION
At 1 April 2024 - 575,097 575,097
Charge for year - 82,519 82,519
At 31 March 2025 - 657,616 657,616
NET BOOK VALUE
At 31 March 2025 716,706 1,459,864 2,176,570
At 31 March 2024 310,327 1,522,706 1,833,033

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 1,072,180 366,122
Other debtors 75,867 86,714
1,148,047 452,836

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 137,855 148,698
Amounts owed to group undertakings 285,483 129,307
Taxation and social security 177,408 275,320
Other creditors 62,900 81,943
673,646 645,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans 9,167 19,167

SPECTRUM VESSEL SERVICES LIMITED (REGISTERED NUMBER: 09355739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 19,167 29,167

Barclays Bank plc has 1 outstanding legal mortgage over the freehold property Unit 87 the oaks invicta way manston business park ramsgate kent.

Barclays Bank plc has 1 outstanding fixed and floating charge over the undertaking and all property and assets present and future including book and all other debts.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Spectrum Offshore Limited.

The ultimate controlling party are the directors A Cross, J Downton and J Hanham who have the majority shareholding in the ultimate parent company Spectrum Offshore Limited, a company incorporated in England and Wales.