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REGISTERED NUMBER: 07585952 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 July 2025 |

| for |

| UK Docks Marine Services Teesside |

| Limited |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Contents of the Financial Statements

for the year ended 31 July 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Statement of Income and Retained Earnings | 10 |

| Statement of Financial Position | 11 |

| Statement of Cash Flows | 12 |

| Notes to the Statement of Cash Flows | 13 |

| Notes to the Financial Statements | 14 |

| UK Docks Marine Services Teesside |

| Limited |

Company Information

for the year ended 31 July 2025

| DIRECTORS: | H Wilson

| G Wilson

| J Wilson

| C Wilson

| S W Syvret

| J G Armstrong

| REGISTERED OFFICE: | River Drive

| South Shields

| Tyne & Wear

| NE33 1LH

| REGISTERED NUMBER: | 07585952 (England and Wales)

| AUDITORS: | TTR Barnes Limited

| Chartered Accountants and Statutory Auditors

| 3-5 Grange Terrace

| Stockton Road

| Sunderland

| Tyne & Wear

| SR2 7DG

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Strategic Report

for the year ended 31 July 2025

The directors present their strategic report for the year ended 31 July 2025.

REVIEW OF BUSINESS

The company activity is that of marine engineering, ship repair and maintenance.

The directors feel at present, the market for the industry is positive and trading conditions have remained strong, which is helping to grow the secured order pipeline of the business.

A key performance indicator used by the director's is turnover achieved and gross profit percentage generated. Results for the year under review indicate that turnover has increased and profitability has increased, both being in line with company objectives.

Key financial results are as follow :

| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |

| £ |  | £ |  | £ |  | £ |  | £ |

Sales |  | 13,551,056 |  | 11,629,486 |  | 12,585,633 |  | 10,116,825 |  | 13,862,114 |

Cost of Sales |  | 9,594,169 |  | 8,478,962 |  | 9,755,595 |  | 8,054,077 |  | 10,889,962 |

Gross profit % |  | 29.02% |  | 27.09% |  | 22.49% |  | 20.39% |  | 21.44% |

The company has seen margins improve as a result of increased utilisation in the facilities.

On the 13 of March 2025, the company invested in expanding its operational capacity, with the commitment of a new 40 year lease at a site adjoining its existing facilities on Teesport Commerce park. With the addition of the new site adding a further two dry docks broadly doubling the operational capacity of the business, the Directors feel the business is well placed for continued growth. The company plans to make a further significant investment in the new site, in order to maximise all opportunities.

The Directors are satisfied with results of the year, but recognise the business operates in a very competitive market place, as we look to take advantage of the increased level of facilities available.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are of the opinion that the principal risk for the company is that of economic risk and the general difficult trading conditions that exist in some of the companies markets.

At present, the directors feel that the general business environment is relatively stable and that good trading relations exist with both suppliers and customers.

The directors continually review the risks and uncertainties and are proactive to reduce these.

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Strategic Report

for the year ended 31 July 2025

The company's operations may expose it to a variety of financial risks that include the effects of changes in prices, credit risk, liquidity risk, currency movements and interest rate risk. The company seeks to limit the adverse effect of the financial performance of the company as follows:

Price Risk

The directors monitor movements in market prices on a regular basis. The company's exposure to equity securities price risk is also closely monitored and the investments are actively managed to avoid any significant risk of losses.

Credit Risk

The company is mostly credit based and therefore risk is considered high. Extensive credit and background checks are required before and after contracts are entered into.

Liquidity Risk

The company has good cash reserves and actively maintains sufficient liquid working capital balances to fund operations, therefore, is no subject to significant liquidity risk.

Currency Movements

The company carries out minimal transactions in currencies other than GBP. Directors monitor currency movements and trends to seek to minimise risks from such,

Interest Rate Risk

The company does not have any borrowings or any other interest bearing liabilities. Cash balances earn interest at variable rates, the directors consider the risk from interest rates is minimal.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will remain competitive. They believe the company is in a good financial position and that the risks identified have been mitigated. The directors are confident in the company's ability to maintain and build on the current market position.

ON BEHALF OF THE BOARD:

J G Armstrong - Director

12 February 2026

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Report of the Directors

for the year ended 31 July 2025

The directors present their report with the financial statements of the company for the year ended 31 July 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of marine engineers.

DIVIDENDS

An interim dividend of £9259.2592 per share was paid on the A Ordinary £1 shares on 31 July 2025. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 31 July 2025 will be £ 500,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2024 to the date of this report.

H Wilson

G Wilson

J Wilson

C Wilson

S W Syvret

Other changes in directors holding office are as follows:

J G Armstrong - appointed 10 April 2025

DISCLOSURE IN THE STRATEGIC REPORT

The principal risks and uncertainties of the company with a business review are disclosed within the strategic report of the company on pages 2-3 of the accounts.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Report of the Directors

for the year ended 31 July 2025

AUDITORS

The auditors, TTR Barnes Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J G Armstrong - Director

12 February 2026

Report of the Independent Auditors to the Members of

UK Docks Marine Services Teesside

Limited

Opinion

We have audited the financial statements of UK Docks Marine Services Teesside Limited (the 'company') for the year ended 31 July 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

UK Docks Marine Services Teesside

Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

UK Docks Marine Services Teesside

Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,

capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the

financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and

data protection, anti-bribery, employment, environmental including various ISO regulations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management and inspecting legal correspondence;

- and identified laws and regulations were communicated within the audit team regularly and the team remained

alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the

company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

UK Docks Marine Services Teesside

Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David J Cook FCCA (Senior Statutory Auditor)

for and on behalf of TTR Barnes Limited

Chartered Accountants and Statutory Auditors

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

13 February 2026

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Statement of Income and

Retained Earnings

for the year ended 31 July 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 13,551,056 |  | 11,629,485 |  |

Cost of sales | 9,594,169 |  | 8,478,962 |  |

GROSS PROFIT | 3,956,887 |  | 3,150,523 |  |

Administrative expenses | 1,656,782 |  | 1,945,547 |  |

2,300,105 |  | 1,204,976 |  |

Other operating income | 49,996 |  | 11,097 |  |

OPERATING PROFIT | 6 | 2,350,101 |  | 1,216,073 |  |

Interest receivable and similar income | 12,038 |  | - |  |

PROFIT BEFORE TAXATION | 2,362,139 |  | 1,216,073 |  |

Tax on profit | 7 | 284,814 |  | 309,188 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,077,325 |  | 906,885 |  |

Retained earnings at beginning of year | 1,498,446 |  | 1,312,547 |  |

Dividends | 8 | (500,000 | ) | (720,986 | ) |

RETAINED EARNINGS AT END OF YEAR | 3,075,771 |  | 1,498,446 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Statement of Financial Position

31 July 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 1,565,966 |  | 970,349 |  |

CURRENT ASSETS

Debtors | 10 | 4,876,863 |  | 2,240,625 |  |

Cash at bank and in hand | 1,583,054 |  | 2,394,888 |  |

6,459,917 |  | 4,635,513 |  |

CREDITORS

Amounts falling due within one year | 11 | 4,908,267 |  | 4,089,183 |  |

NET CURRENT ASSETS | 1,551,650 |  | 546,330 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,117,616 |  | 1,516,679 |  |

PROVISIONS FOR LIABILITIES | 14 | 41,745 |  | 18,133 |  |

NET ASSETS | 3,075,871 |  | 1,498,546 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 100 |  | 100 |  |

Retained earnings | 3,075,771 |  | 1,498,446 |  |

SHAREHOLDERS' FUNDS | 3,075,871 |  | 1,498,546 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2026 and were signed on its behalf by:

G Wilson - Director

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Statement of Cash Flows

for the year ended 31 July 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 543,923 |  | 2,721,301 |  |

Tax paid | (239,933 | ) | (313,541 | ) |

Net cash from operating activities | 303,990 |  | 2,407,760 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (627,861 | ) | (66,962 | ) |

Interest received | 12,038 |  | - |  |

Net cash from investing activities | (615,823 | ) | (66,962 | ) |

Cash flows from financing activities

Rounding | (1 | ) | - |  |

Amount introduced by directors | - |  | 8,158 |  |

Amount withdrawn by directors | - |  | (8,158 | ) |

Equity dividends paid | (500,000 | ) | (720,986 | ) |

Net cash from financing activities | (500,001 | ) | (720,986 | ) |

(Decrease)/increase in cash and cash equivalents | (811,834 | ) | 1,619,812 |  |

Cash and cash equivalents at beginning of year | 2 | 2,394,888 |  | 775,076 |  |

Cash and cash equivalents at end of year | 2 | 1,583,054 |  | 2,394,888 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Statement of Cash Flows

for the year ended 31 July 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,362,139 |  | 1,216,073 |  |

| Depreciation charges | 32,244 |  | 13,011 |  |

| Finance income | (12,038 | ) | - |  |

2,382,345 |  | 1,229,084 |  |

| (Increase)/decrease in stocks | (3,520,722 | ) | 1,574,778 |  |

| Decrease/(increase) in trade and other debtors | 884,483 |  | (39,257 | ) |

| Increase/(decrease) in trade and other creditors | 797,817 |  | (43,304 | ) |

| Cash generated from operations | 543,923 |  | 2,721,301 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 31 July 2025

| 31/7/25 |  | 1/8/24

£ | £ |

| Cash and cash equivalents | 1,583,054 |  | 2,394,888 |  |

| Year ended 31 July 2024

| 31/7/24 |  | 1/8/23

£ | £ |

| Cash and cash equivalents | 2,394,888 |  | 775,076 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/8/24 | Cash flow | At 31/7/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,394,888 |  | (811,834 | ) | 1,583,054 |  |

2,394,888 |  | (811,834 | ) | 1,583,054 |  |

| Total | 2,394,888 |  | (811,834 | ) | 1,583,054 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements

for the year ended 31 July 2025

1. | STATUTORY INFORMATION

| UK Docks Marine Services Teesside 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Significant judgements and estimates

| The preparation of the financial statements require the use of estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Although these estimates and associated assumptions are based on historical experience and management knowledge, the actual results may differ from these estimates. The key estimates and assumptions to the company are considered to be:

| Amounts recoverable on contract

| Amounts recoverable are for works completed or in the latter stages of production, not yet billed. The accounting judgement is that these monies should be recognised as income now as the work has been completed and the monies are expected.

| Depreciation

| Depreciation is charged to reduce the carrying value of tangible fixed assets to their recoverable value. An estimate has been made for the useful lives of assets and their associated residual values.

| Accruals

| Inline with the framework income and expenses should be included in the period to which they relate. The estimate is that all of the future costs and and income relating to this accounting period have been included accurately.

| Recognition of revenue

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

| Revenue represents the amount (excluding value added tax) derived from the provision of goods and services from the principle activity.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% Straight line

| Long Leasehold assets are not depreciated as they are maintained to such a degree that their residual value is at least equal to their cost.

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Assets

| Short term assets including prepayments and trade debtors are measured at transaction price. Other financial assets including cash and amounts recoverable on contract are measured at fair value.

| Liabilities

| Short term liabilities including trade creditors, other creditors and accruals are measured at transaction price.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Amounts recoverable on contracts

| Amounts recoverable on contracts are in respect of revenue generating contracts entered into which are not yet complete. Long term contract costs incurred are released to the profit and loss account as they fall due. Revenue is valued using a stage of completion method and recognised accordingly in the period for which the corresponding costs have been recognised. They are reviewed on a contract by contract basis and any foreseeable losses are recognised immediately in the profit and loss account.

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 13,551,056 |  | 9,996,336 |  |

| Europe | - |  | 1,633,149 |  |

13,551,056 |  | 11,629,485 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,590,345 |  | 1,897,257 |  |

| Social security costs | 185,491 |  | 167,617 |  |

| Other pension costs | 28,625 |  | 27,345 |  |

1,804,461 |  | 2,092,219 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Direct | 28 |  | 30 |  |

| Admin | 3 |  | 5 |  |

| Directors | 6 |  | 5 |  |

37 |  | 40 |  |

| The staff are formally employed by UK Docks Marine Services North Limited and the costs of the employees are recharged to the company each month.

5. | DIRECTORS' EMOLUMENTS

| No payments have been made for the directors in relation to defined benefit pension plans during the year (2024: £206,000)

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 156,450 |  | 162,760 |  |

| Depreciation - owned assets | 32,244 |  | 13,011 |  |

| Auditors' remuneration | 16,800 |  | 14,360 |  |

| Auditors' remuneration for non audit work | 2,834 |  | 9,764 |  |

| Foreign exchange differences | 565 |  | - |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 261,202 |  | 304,369 |  |

| Deferred tax | 23,612 |  | 4,819 |  |

| Tax on profit | 284,814 |  | 309,188 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 2,362,139 |  | 1,216,073 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 590,535 |  | 304,018 |  |

| Effects of:

| Expenses not deductible for tax purposes | 5,185 |  | 6,763 |  |

| Capital allowances in excess of depreciation | (22,075 | ) | (6,413 | ) |

| Utilisation of tax losses | (312,443 | ) | - |  |

| Deferred tax | 23,612 |  | 4,820 |  |

| Total tax charge | 284,814 |  | 309,188 |  |

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| A Ordinary shares of £1 each |

| Dividends | 500,000 |  | 720,986 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

9. | TANGIBLE FIXED ASSETS

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 August 2024 | 916,982 |  | 181,794 |  | 20,850 |  |

| Additions | 559,441 |  | 37,920 |  | - |  |

| At 31 July 2025 | 1,476,423 |  | 219,714 |  | 20,850 |  |

| DEPRECIATION

| At 1 August 2024 | - |  | 138,503 |  | 18,291 |  |

| Charge for year | - |  | 20,303 |  | 640 |  |

| At 31 July 2025 | - |  | 158,806 |  | 18,931 |  |

| NET BOOK VALUE

| At 31 July 2025 | 1,476,423 |  | 60,908 |  | 1,919 |  |

| At 31 July 2024 | 916,982 |  | 43,291 |  | 2,559 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 August 2024 | - |  | 24,926 |  | 1,144,552 |  |

| Additions | 30,500 |  | - |  | 627,861 |  |

| At 31 July 2025 | 30,500 |  | 24,926 |  | 1,772,413 |  |

| DEPRECIATION

| At 1 August 2024 | - |  | 17,409 |  | 174,203 |  |

| Charge for year | 7,625 |  | 3,676 |  | 32,244 |  |

| At 31 July 2025 | 7,625 |  | 21,085 |  | 206,447 |  |

| NET BOOK VALUE

| At 31 July 2025 | 22,875 |  | 3,841 |  | 1,565,966 |  |

| At 31 July 2024 | - |  | 7,517 |  | 970,349 |  |

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 149,079 |  | 307,413 |  |

| Amounts owed by group undertakings | 432,715 |  | 1,465,918 |  |

| Amounts recoverable on contract | 3,653,889 |  | 133,167 |  |

| VAT | 374,102 |  | 241,737 |  |

| Prepayments and accrued income | 267,078 |  | 92,390 |  |

4,876,863 |  | 2,240,625 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 2,591,310 |  | 2,014,120 |  |

| Amounts owed to group undertakings | 899,842 |  | 1,426,329 |  |

| Tax | 204,243 |  | 182,974 |  |

| Social security and other taxes | 35,133 |  | 36,242 |  |

| Other creditors | - |  | 24,952 |  |

| Accrued expenses | 1,177,739 |  | 404,566 |  |

4,908,267 |  | 4,089,183 |  |

12. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 198,065 |  | 161,000 |  |

| Between one and five years | 802,542 |  | 632,636 |  |

| In more than five years | 2,978,044 |  | 1,742,107 |  |

3,978,651 |  | 2,535,743 |  |

13. | SECURED DEBTS

| There is an unlimited debenture and a letter of set off in place across the company. This is with UK Docks Marine Services North, UK Docks Marine Services South and UK Docks Marine Services Teesside

14. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 41,745 |  | 18,133 |  |

| Deferred |

| tax |

£ |

| Balance at 1 August 2024 | 18,133 |  |

| Provided during year | 23,612 |  |

| Balance at 31 July 2025 | 41,745 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 54 | A Ordinary | £1 | 54 |  | 54 |  |

| 15 | B Ordinary | £1 | 15 |  | 15 |  |

| 15 | C Ordinary | £1 | 15 |  | 15 |  |

| 15 | D Ordinary | £1 | 15 |  | 15 |  |

| 1 | E Ordinary | £1 | 1 |  | 1 |  |

100 |  | 100 |  |

| UK Docks Marine Services Teesside |

| Limited (Registered number: 07585952) |

Notes to the Financial Statements - continued

for the year ended 31 July 2025

15. | CALLED UP SHARE CAPITAL - continued

| Called up share capital represents the nominal value of all shares that have been issued.

| All ordinary shares carry full voting and dividend rights.

16. | CAPITAL COMMITMENTS

| At the year end, under the entities lease obligations, a significant number of remedial works had been contracted to be undertaken by the entity as the tenant.

17. | RELATED PARTY DISCLOSURES

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Key Management |  |

| Key management remuneration |  | 458,907 |  |  | 390,445 |  |

| Associates |  |

| Amounts owed to associates |  | - |  |  | 245,423 |  |

| Hire of equipment paid to associate |  | 142,200 |  |  | 132,000 |  |

| Management charge paid to associate |  | 100,800 |  |  | 100,800 |  |

| Insurance recharged from associate |  | 7,020 |  |  | 4,598 |  |

18. | AUDITOR LIABILITY LIMITATION AGREEMENT

| The limitation of liability in respect of this audit is 10 times the audit fee which was agreed in our terms of engagement letter dated 1 August 2024.

19. | PARENT COMPANY

| The ultimate parent company is Wilson Group Holdings Limited, a company registered in England and Wales.

| Wilson Group Holdings Limited prepare group consolidated financial statements and the registered office is River Drive, South Shields, Tyne and Wear, NE33 1LH.