G & H Engineering & Diving Services Limited
Unaudited Financial Statements
For the year ended 31 August 2025
Pages for Filing with Registrar
Company Registration No. 02412380 (England and Wales)
G & H Engineering & Diving Services Limited
Company Information
Directors
G.L. Hassell
G.P. Hassell
K Findley
Company number
02412380
Registered office
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Accountants
Moore Kingston Smith LLP
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Bankers
HSBC
127 High Street
Hounslow
TW3 1QP
G & H Engineering & Diving Services Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
G & H Engineering & Diving Services Limited
Balance Sheet
As at 31 August 2025
31 August 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
189,566
162,333
Current assets
Stock
80,512
328,213
Debtors
4
2,027,515
2,408,916
Cash at bank and in hand
1,047,502
291
3,155,529
2,737,420
Creditors: amounts falling due within one year
5
(1,400,402)
(1,354,128)
Net current assets
1,755,127
1,383,292
Total assets less current liabilities
1,944,693
1,545,625
Creditors: amounts falling due after more than one year
6
(42,726)
(38,702)
Provisions for liabilities
(25,092)
(21,642)
Net assets
1,876,875
1,485,281
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
1,875,875
1,484,281
Total equity
1,876,875
1,485,281
G & H Engineering & Diving Services Limited
Balance Sheet (Continued)
As at 31 August 2025
31 August 2025
Page 2

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 July 2026 and are signed on its behalf by:
G.L. Hassell
Director
Company Registration No. 02412380
G & H Engineering & Diving Services Limited
Notes to the Financial Statements
For the year ended 31 August 2025
Page 3
1
Accounting policies
Company information

G & H Engineering & Diving Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Shipping Building, The Old Vinyl Factory, Blyth Road, Hayes, London, UB3 1HA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have assessed the company’s ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements. During the year, the company generated a net profit before tax of £756,848 (2024 - £454,626).

This assessment has taken into account the company’s current financial position and the positive trajectory in revenue growth achieved through strategic diversification of its client base and expansion into non-airport related services.

The directors have considered various downside scenarios on the company's cashflow including potential delays in customer receipts and cost inflation. The director is satisfied that the company expects to maintain sufficient liquidity and covenant headroom under its existing financing arrangements.

Furthermore, the directors have considered the company’s operational resilience, access to funding, and the mitigating actions available should adverse conditions arise. No material uncertainties have been identified that would cast significant doubt on the company’s ability to continue as a going concern.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 4

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 5
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 6
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 7
1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
51
42
G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
Page 8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024
645,298
Additions
71,329
Disposals
(23,665)
At 31 August 2025
692,962
Depreciation and impairment
At 1 September 2024
482,965
Depreciation charged in the year
41,648
Eliminated in respect of disposals
(21,217)
At 31 August 2025
503,396
Carrying amount
At 31 August 2025
189,566
At 31 August 2024
162,333
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,422,692
602,136
Gross amounts owed by contract customers
360,607
1,726,590
Other debtors
226,999
77,191
Prepayments and accrued income
17,217
2,999
2,027,515
2,408,916
G & H Engineering & Diving Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
Page 9
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
424,163
Obligations under finance leases
27,301
24,527
Trade creditors
901,308
552,804
Corporation tax
186,722
125,325
Other taxation and social security
101,397
68,189
Other creditors
134,016
108,290
Accruals and deferred income
49,658
50,830
1,400,402
1,354,128
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
42,726
38,702
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Directors' transactions

Dividends totalling £176,000 (2024 - £72,000) were paid in the year in respect of shares held by the company's directors.

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