JACKUP GB LTD


Directors	BRANFORD, Julian Gurney
	SPURR, Martin


Registered Address	C/O Xeinadin First Floor Secure House
	Lulworth Close
	Chandler's Ford
	SO53 3TL


Registered Number	06692402 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		3,599,288		8,444,460
			3,599,288		8,444,460
Current assets
Debtors	6	85,756		149,688
Cash at bank and on hand		357,162		248,411
		442,918		398,099
Creditors amounts falling due within one year	7	(302,438)		(972,529)
Net current assets (liabilities)			140,480		(574,430)
Total assets less current liabilities			3,739,768		7,870,030
Creditors amounts falling due after one year			-		(1,237,666)
Provisions for liabilities			(322,234)		(110,893)
Net assets			3,417,534		6,521,471
Capital and reserves
Called up share capital			201,000		444,445
Share premium			-		2,191,489
Revaluation reserve			1,827,376		4,040,835
Other reserves			(531,224)		-
Profit and loss account			1,920,382		(155,298)
Shareholders' funds	9		3,417,534		6,521,471

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 15 December 2025, and are signed on its behalf by:

BRANFORD, Julian Gurney
Director

SPURR, Martin
Director

Registered Company No. 06692402

JACKUP GB LTD

Notes to the Financial Statements
for the year ended 31 March 2025

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets, 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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	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.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	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.

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
	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.

	Deferred tax
	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.

Deferred tax

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:


		Reducing balance (%)
	Plant and machinery	5

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		4

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	8,467,497
	Disposals	(4,842,000)
	At 31 March 25	3,625,497
	Depreciation and impairment
	At 01 April 24	23,037
	Charge for year	3,172
	At 31 March 25	26,210
	Net book value
	At 31 March 25	3,599,288
	At 31 March 24	8,444,460

5.	Revaluation of property, plant and equipment
	At the 31st March 2024 certain items of plant have been revalued to their market value as at that date. The valuations were carried out by DSB Offshore Limited and totalled £8,381,000 consisting of £4,842,000 ( Buzzard ),£3,433,000 ( Commander ) £106,000 ( Maritim 111 ).

		2025		2024
		£		£
	Property, plant and equipment / tangible fixed assets	-		838,100

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by associates and joint ventures / participating interests	-	10,097
Other debtors	61,841	81,255
Prepayments and accrued income	23,915	58,336
Total	85,756	149,688


	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.

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.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	65,208	51,651
Bank borrowings and overdrafts	-	263,728
Amounts owed to related parties	69,553	90,180
Taxation and social security	118,320	-
Other creditors	42,175	58,344
Accrued liabilities and deferred income	7,182	508,626
Total	302,438	972,529


	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.

8.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
SPURR, Martin	10,097	0	10,097	0
	10,097	0	10,097	0

9.	Revaluation reserve


		£
	Reserve at 01 April 24	4,040,835
	Revaluations of plant, property and equipment	(2,213,459)
	At 31 March 25	1,827,376

10.	Related party transactions
	Included within Other Creditors are the following Director Loan accounts :- J G Branford £ 68,894 ( 2024 - £ 90,180 ) M Spurr £ 658 ( 2024 - £ nil ) The Loan interest charge for the year of £ 56,217 ( 2024 - £ 64,226 ) consists of amounts payable to either the directors personally or entities in which the directors have a controlling interest. J Branford M Spurr RS Baker and Sons The management fees payable of £ 200,332 ( 2024 - £408,322 ) consisted of amounts payable to the Directors J Branford £ 48,000 ( 2024 - £ 75,411 ) and M Spurr £ 100,224 ( 2024 - £ 75,411 ) . together with amounts of £ nil ( 2024 - £ 20,000 ) to Exit Limited and £ 52108 ( 2024 - £ 237,500 )to Plant Exit Limited. Both companies J Branford is also a director and shareholder of.

10.

Related party transactions

Included within Other Creditors are the following Director Loan accounts :-
J G Branford £ 68,894 ( 2024 - £ 90,180 )
M Spurr £ 658 ( 2024 - £ nil )
The Loan interest charge for the year of £ 56,217 ( 2024 -  £ 64,226 ) consists of amounts payable to either the directors personally or entities in which the directors have a controlling interest.
J Branford
M Spurr
RS Baker and Sons

The management fees payable of £ 200,332 ( 2024 - £408,322 ) consisted of amounts payable to the Directors J Branford £ 48,000 ( 2024 - £ 75,411 ) and M Spurr £ 100,224 ( 2024 - £ 75,411 ) . together with amounts of £ nil ( 2024 - £ 20,000 ) to Exit Limited and £ 52108 ( 2024 - £ 237,500 )to Plant Exit Limited. Both companies J Branford is also a director and shareholder of.