Registration number: 11549566

GPS Marine Facilities Ltd

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	26,100	30,706
Current assets
Debtors	6	25,238	60,990
Cash at bank and in hand		374	86
		25,612	61,076
Creditors: Amounts falling due within one year	7	(66,676)	(65,179)
Net current liabilities		(41,064)	(4,103)
Total assets less current liabilities		(14,964)	26,603
Provisions for liabilities		-	(7,677)
Net (liabilities)/assets		(14,964)	18,926
Capital and reserves
Called up share capital		1	1
Retained earnings		(14,965)	18,925
Shareholders' (deficit)/funds		(14,964)	18,926

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 24 September 2025 and signed on its behalf by:
 

.........................................

Mr D J J Spencer

Director

Company registration number: 11549566

GPS Marine Facilities Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
GPS Marine House
Upnor Road
Lower Upnor
Rochester
Kent
ME2 4UY

The principal activity of the company is that of the leasing of machinery and equipment.

2	Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 24 September 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net liabilities at 31 December 2024 of £14,964.

At this date a net amount of £42,119 was due to group undertakings who have agreed to not call for repayment until such time as the company has sufficient working capital, and to provide additional working capital if required.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

GPS Marine Facilities Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for leasing services provided to customers in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue evenly over the period in which the machinery and equipment is leased to customers.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

GPS Marine Facilities Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

5	Tangible assets

	Plant and machinery £
Cost or valuation
At 1 January 2024	50,000
At 31 December 2024	50,000
Depreciation
At 1 January 2024	19,294
Charge for the year	4,606
At 31 December 2024	23,900
Carrying amount
At 31 December 2024	26,100
At 31 December 2023	30,706

6

Debtors

	2024 £	2023 £
Amounts owed by group undertakings	21,980	58,980
Other debtors	3,258	2,010
	25,238	60,990

GPS Marine Facilities Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Trade creditors	1,497	-
Amounts owed to group undertakings	64,099	64,099
Other creditors	1,080	1,080
	66,676	65,179