IRIS Accounts Production v25.1.4.42 07010542 director 1.12.23 30.11.24 30.11.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070105422023-11-30070105422024-11-30070105422023-12-012024-11-30070105422022-11-30070105422022-12-012023-11-30070105422023-11-3007010542ns15:EnglandWales2023-12-012024-11-3007010542ns14:PoundSterling2023-12-012024-11-3007010542ns10:Director12023-12-012024-11-3007010542ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3007010542ns10:SmallEntities2023-12-012024-11-3007010542ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3007010542ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3007010542ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3007010542ns10:FullAccounts2023-12-012024-11-3007010542ns10:RegisteredOffice2023-12-012024-11-3007010542ns5:CurrentFinancialInstruments2024-11-3007010542ns5:CurrentFinancialInstruments2023-11-3007010542ns5:Non-currentFinancialInstruments2024-11-3007010542ns5:Non-currentFinancialInstruments2023-11-3007010542ns5:ShareCapital2024-11-3007010542ns5:ShareCapital2023-11-3007010542ns5:RetainedEarningsAccumulatedLosses2024-11-3007010542ns5:RetainedEarningsAccumulatedLosses2023-11-3007010542ns5:FurnitureFittings2023-12-012024-11-3007010542ns5:MotorVehicles2023-12-012024-11-3007010542ns5:LandBuildings2023-11-3007010542ns5:FurnitureFittings2023-11-3007010542ns5:MotorVehicles2023-11-3007010542ns5:LandBuildings2023-12-012024-11-3007010542ns5:LandBuildings2024-11-3007010542ns5:FurnitureFittings2024-11-3007010542ns5:MotorVehicles2024-11-3007010542ns5:LandBuildings2023-11-3007010542ns5:FurnitureFittings2023-11-3007010542ns5:MotorVehicles2023-11-3007010542ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3007010542ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30
REGISTERED NUMBER: 07010542 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 November 2024

for

The Special Boat Service Limited

The Special Boat Service Limited (Registered number: 07010542)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Special Boat Service Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: S R Bruce





REGISTERED OFFICE: 6 Mitchell Point
Ensign Way
Hamble
Southampton
SO31 4RF





REGISTERED NUMBER: 07010542 (England and Wales)





ACCOUNTANTS: Howard Smith & Co Limited
338 London Road
Portsmouth
Hampshire
PO2 9JY

The Special Boat Service Limited (Registered number: 07010542)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,915 22,489

CURRENT ASSETS
Stocks 7,000 250,000
Debtors 5 279,044 388,380
Cash at bank and in hand 12,112 83,320
298,156 721,700
CREDITORS
Amounts falling due within one year 6 385,199 491,246
NET CURRENT (LIABILITIES)/ASSETS (87,043 ) 230,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,128

)

252,943

CREDITORS
Amounts falling due after more than one year 7 (4,995 ) (14,985 )

PROVISIONS FOR LIABILITIES (1,597 ) (2,084 )
NET (LIABILITIES)/ASSETS (73,720 ) 235,874

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (73,820 ) 235,774
(73,720 ) 235,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

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

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

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

The financial statements were approved by the director and authorised for issue on 22 August 2025 and were signed by:



S R Bruce - Director


The Special Boat Service Limited (Registered number: 07010542)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 6 ) .

The Special Boat Service Limited (Registered number: 07010542)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Assets
under Fixtures
construction and Motor
cost fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023
and 30 November 2024 11,511 9,231 29,288 50,030
DEPRECIATION
At 1 December 2023 - 5,813 21,728 27,541
Charge for year - 684 1,890 2,574
At 30 November 2024 - 6,497 23,618 30,115
NET BOOK VALUE
At 30 November 2024 11,511 2,734 5,670 19,915
At 30 November 2023 11,511 3,418 7,560 22,489

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,074 61,811
Amounts owed by group undertakings 137,700 198,697
Other debtors 126,270 127,872
279,044 388,380

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,990 10,438
Trade creditors 362,025 452,903
Taxation and social security 5,635 15,456
Other creditors 7,549 12,449
385,199 491,246

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,995 14,985

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

This is a Debenture including fixed charges over the assets referred to in Clause 4.2 (Fixed charges), as an assignment of the rights and assets referred to in Clause 4.3 (Assignment) and a floating charge over all of the other assets and undertaking of each Chargor in Clause 4.4 (Floating charges).

The Special Boat Service Limited (Registered number: 07010542)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. RELATED PARTY DISCLOSURES

Special Boat Property Services Limited

A company of which Mr Bruce is a director and shareholder


Loan to the value of £120,535 has been paid to Special Boat Property Services Limited

2024 2023
£    £   
Amount due from related party at the balance sheet date 120,535 120,535

ePropulsion Limited

A company in which Mr Bruce is a director and shareholder


Payments totalling £60,997.40 have been received from ePropulsion Limited during the year.

2024 2023
£    £   
Amount due from related party at the balance sheet date 137,700 198,697