Registration number: 06961567

PW Marine Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

PW Marine Limited

Company Information

Director

P Wilkinson

Company secretary

P Wilkinson

Registered office

73 Duke Street Darlington County Durham England DL3 7SD

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick Scottish Borders TD9 9BD

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
PW Marine Limited for the Year Ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PW Marine Limited for the year ended 31 July 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of PW Marine Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PW Marine Limited and state those matters that we have agreed to state to the Board of Directors of PW Marine Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PW Marine Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PW Marine Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PW Marine Limited. You consider that PW Marine Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of PW Marine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

22 April 2026

PW Marine Limited

(Registration number: 06961567)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	429	695
Other financial assets		67,223	63,360
		67,652	64,055
Current assets
Debtors	7	87,382	72,699
Cash at bank and in hand		50,924	42,917
		138,306	115,616
Creditors: Amounts falling due within one year	8	(49,938)	(27,482)
Net current assets		88,368	88,134
Total assets less current liabilities		156,020	152,189
Creditors: Amounts falling due after more than one year	8	-	(2,500)
Net assets		156,020	149,689
Capital and reserves
Called up share capital	10	100	100
Retained earnings		155,920	149,589
Shareholders' funds		156,020	149,689

For the financial year ending 31 July 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 Profit and Loss Account.

Approved and authorised by the director on 22 April 2026
 

......................................... P Wilkinson Company secretary and director

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

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

The address of its registered office is:
73 Duke Street
Darlington
County Durham
DL3 7SD
England

The principal place of business is:
The Woodhouse
Kippen Station
Stirling
FK8 3JA

These financial statements were authorised for issue by the director on 22 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

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 presented in Sterling (£) and rounded to the nearest £1.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements have been made included:

Useful economic lives of tangible assets - the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annnually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the asset.

Revenue recognition

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

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tangible assets

Tangible assets are stated in the balance sheet 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
Computer equipment	33% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as 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 liabilites.
 Recognition and measurement
Where shares are issued , any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3	Staff numbers

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

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	266	628

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

5	Tangible assets

	Computer equipment £	Total £
Cost or valuation
At 1 August 2024	4,519	4,519
At 31 July 2025	4,519	4,519
Depreciation
At 1 August 2024	3,824	3,824
Charge for the year	266	266
At 31 July 2025	4,090	4,090
Carrying amount
At 31 July 2025	429	429
At 31 July 2024	695	695

6	Investments

Other investments

The market value of the listed investments at 31 July 2025 was £67,223 (2024 - £63,360).

7

Debtors

Current	2025 £	2024 £
Trade debtors	30,072	12,223
Other debtors	57,310	60,476
	87,382	72,699

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	-	3,000
Taxation and social security		49,938	24,482
		49,938	27,482

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	2,500

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	-	2,500

Current loans and borrowings

	2025 £	2024 £
Other borrowings	-	3,000

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	100	100	100	100

PW Marine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

11	Related party transactions

Transactions with the director

2025	At 1 August 2024 £	Advances to director £	Repayments by director £	At 31 July 2025 £
P Wilkinson
Interest is charged on overdrawn loan accounts at 2.25%. The loan was repaid in full after the year end.	30,905	57,310	(30,905)	57,310

2024	At 1 August 2023 £	Advances to director £	Repayments by director £	At 31 July 2024 £
P Wilkinson
Interest is charged on overdrawn loan accounts at 2.25%. The loan was repaid in full after the year end.	16,708	30,905	(16,708)	30,905

Summary of transactions with other related parties

Pierside Solutions Ltd
(A company registered in England in which P Wilkinson is a director and shareholder)
Loans were advanced to Pierside Solutions Ltd, the loans made between the companies are at normal commercial rates. The loan was written off during the year. At the balance sheet date the amount due to PW Marine Ltd was £nil (2024 £29,571).