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Registered number: 02109635
Merseyside Shiprepairers Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
Merseyside Shiprepairers Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Merseyside Shiprepairers Limited
Balance Sheet
As At 30 September 2025
Balance Sheet
Registered number: 02109635

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 419,910 |  | 469,836
|  |  | 419,910 |  | 469,836
CURRENT ASSETS
Stocks | 5 | 56,110 |  | 36,556 |
Debtors | 6 | 273,679 |  | 262,471 |
Cash at bank and in hand |  | 591,746 |  | 415,468 |
|  | 921,535 |  | 714,495 |
Creditors: Amounts Falling Due Within One Year | 7 | (316,751 ) |  | (155,864 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 604,784 |  | 558,631
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,024,694 |  | 1,028,467
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (13,850 ) |  | (30,145 )
NET ASSETS |  |  | 1,010,844 |  | 998,322
CAPITAL AND RESERVES
Called up share capital | 10 |  | 6,100 |  | 6,100
Profit and Loss Account |  |  | 1,004,744 |  | 992,222
SHAREHOLDERS' FUNDS |  |  | 1,010,844 |  | 998,322

Page 1
Page 2
Merseyside Shiprepairers Limited
Balance Sheet (continued)
As At 30 September 2025
For the year ending 30 September 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr P J Barrett Director
14 May 2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
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Merseyside Shiprepairers Limited
Notes to the Financial Statements
For The Year Ended 30 September 2025
Notes to the Financial Statements
1. General Information
Merseyside Shiprepairers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02109635 . The registered office is Syren Street, Brasenose Road, Liverpool, Merseyside, L20 8HP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.3. Tangible Fixed Assets and Depreciation
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.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | 2% straight line
Plant and machinery | 15% straight line
Motor vehicles | 25% straight line
Fixtures and fittings | 10% and 20% straight line

2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Merseyside Shiprepairers Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
2.6. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.7. Taxation
The taxation 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2024: 19)
18 19
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
| £ | £ | £ | £ | £
Cost
As at 1 October 2024 | 595,690 | 360,281 | 202,455 | 65,818 | 1,224,244
Additions | - | 1,394 | - | - | 1,394
Disposals | - | (1,146 ) | - | (900 ) | (2,046 )
As at 30 September 2025 | 595,690 | 360,529 | 202,455 | 64,918 | 1,223,592
Depreciation
As at 1 October 2024 | 194,860 | 315,728 | 184,455 | 59,365 | 754,408
Provided during the period | 11,914 | 25,564 | 9,000 | 4,017 | 50,495
Disposals | - | (321 ) | - | (900 ) | (1,221 )
As at 30 September 2025 | 206,774 | 340,971 | 193,455 | 62,482 | 803,682
Net Book Value
As at 30 September 2025 | 388,916 | 19,558 | 9,000 | 2,436 | 419,910
As at 1 October 2024 | 400,830 | 44,553 | 18,000 | 6,453 | 469,836

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Merseyside Shiprepairers Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
5. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Work in progress | 56,110 |  | 36,556

6. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 249,970 |  | 229,382
Prepayments and accrued income | 14,432 |  | 15,908
Other debtors | 136 |  | 278
Deferred tax current asset | 9,141 |  | 16,903
| 273,679 |  | 262,471

7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 233,977 |  | 85,150
Bank loans and overdrafts | 15,225 |  | 14,155
Other taxes and social security | 14,477 |  | 11,748
VAT | 36,045 |  | 32,494
Accruals and deferred income | 16,227 |  | 10,808
Directors' loan accounts | 800 |  | 1,509
| 316,751 |  | 155,864

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | 13,850 |  | 30,145

9. Secured Creditors
Of the creditors the following amounts are secured against the property to which it relates.

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 29,075 |  | 44,300

10. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 6,100 |  | 6,100

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Merseyside Shiprepairers Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 579 |  | 579
Later than one year and not later than five years | 1,157 |  | 1,736
| 1,736 |  | 2,315

12. Related Party Transactions
The following related party transactions were undertaken during the year:
A director introduced amounts totalling £Nil and withdrew amounts totalling £Nil (2024: introduced amounts totalling £Nil and withdrew amounts totalling £366). At the balance sheet date the amount payable was £800 (2024: £800).
A director introduced amounts totalling £918 and withdrew amounts totalling £1,627 (2024: introduced amounts totalling £Nil and withdrew amounts totalling £Nil). At the balance sheet date the amount payable was £Nil (2024: £709).
Dividends were paid to the directors and shareholders in respect of their shareholdings totalling £Nil (2024: £Nil).
The aggregate remuneration paid to key management personnel for the year was £183,085 (2024: £159,895).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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