Registration number: SC214910

Marine and Technical Services Ltd

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 5

Marine and Technical Services Ltd

(Registration number: SC214910)
Statement of Financial Position as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	51	67
Current assets
Debtors	5	3,655	4,830
Cash at bank and in hand		130,293	142,982
		133,948	147,812
Creditors: Amounts falling due within one year	6	(10,848)	(8,582)
Net current assets		123,100	139,230
Net assets		123,151	139,297
Capital and reserves
Called up share capital		2	2
Retained earnings		123,149	139,295
Shareholders' funds		123,151	139,297

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 8 October 2025
 

 

Mr C D Miller
Director

Marine and Technical Services Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
38 Glenlossie Road
Thomshill
Elgin
Morayshire
IV30 8GY

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services and sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Marine and Technical Services Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of the asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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
Office Equipment	25% Reducing Balance

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Marine and Technical Services Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2024 - 1).

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 February 2024	4,012	4,012
At 31 January 2025	4,012	4,012
Depreciation
At 1 February 2024	3,945	3,945
Charge for the year	16	16
At 31 January 2025	3,961	3,961
Carrying amount
At 31 January 2025	51	51
At 31 January 2024	67	67

5

Debtors

Current	2025 £	2024 £
Trade debtors	3,622	4,830
Other debtors	33	-
	3,655	4,830

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	2,403	4,369
Accruals and deferred income	1,625	1,648
Other creditors	6,820	2,565
	10,848	8,582

Marine and Technical Services Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

7

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £11,971 (2024 - £20,000) per each Ordinary		23,942		40,000