Registration number: 03946493

Marine Services (Grimsby) Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Marine Services (Grimsby) Limited

(Registration number: 03946493)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	296,384	355,047
Current assets
Debtors	6	121,764	86,506
Cash at bank and in hand		82,992	211,799
		204,756	298,305
Creditors: Amounts falling due within one year	7	(60,033)	(97,459)
Net current assets		144,723	200,846
Total assets less current liabilities		441,107	555,893
Provisions for liabilities		-	(48,265)
Net assets		441,107	507,628
Capital and reserves
Called up share capital	8	2	2
Retained earnings		441,105	507,626
Shareholders' funds		441,107	507,628

For the financial 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.

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 13 March 2026
 

......................................... R J Harvey Director

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

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

The address of its registered office is:
14 Denby Drive
Cleethorpes
N E Lincolnshire
DN35 9QQ

These financial statements were authorised for issue by the director on 13 March 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 have been prepared in sterling and are rounded to the nearest pound.

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at th date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the
balance sheet date. All exchange differences are included in the profit and loss account

Tax

The tax expense for the period comprises current and deferred 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.

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Boats	10% straight line
Plant and machinery	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

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.

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

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.

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.

Defined contribution pension obligation

The company makes contributions into the personal pension of the director.

3	Staff numbers

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

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2024	250,000	250,000
At 30 September 2025	250,000	250,000
Amortisation
At 1 October 2024	250,000	250,000
At 30 September 2025	250,000	250,000
Carrying amount
At 30 September 2025	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2024	1,543,894	1,543,894
Disposals	(120,000)	(120,000)
At 30 September 2025	1,423,894	1,423,894
Depreciation
At 1 October 2024	1,188,847	1,188,847
Charge for the year	58,663	58,663
Eliminated on disposal	(120,000)	(120,000)
At 30 September 2025	1,127,510	1,127,510
Carrying amount
At 30 September 2025	296,384	296,384
At 30 September 2024	355,047	355,047

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		30,993	2,295
Amounts owed by related parties	9	-	2,275
Other debtors		90,771	81,936
		121,764	86,506

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		157	118
Amounts owed to Company undertakings and undertakings in which the Company has a participating interest	9	53,499	-
Taxation and social security		2,377	87,870
Accruals and deferred income		4,000	9,471
		60,033	97,459

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Share of £1 each	2	2	2	2

9	Related party transactions

Marine Services (Grimsby) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Director's remuneration

The Director's remuneration for the year was as follows:

	2025 £	2024 £
Contributions paid to money purchase schemes	-	140,000

10	Parent and ultimate parent undertaking

The Company's immediate parent is Grimsby Tugs & Workboats Limited, incorporated in England and Wales.

 The ultimate controlling party is R J Harvey.