Company registration number 00164726 (England and Wales)
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 6
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Society of Consulting Marine Engineers and Ship Surveyors for the year ended 31 December 2025 which comprise, the balance sheet and the related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Society of Consulting Marine Engineers and Ship Surveyors, as a body, in accordance with the terms of our engagement letter dated 11 March 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Society of Consulting Marine Engineers and Ship Surveyors and state those matters that we have agreed to state to the b oard of d irectors of Society of Consulting Marine Engineers and Ship Surveyors, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Society of Consulting Marine Engineers and Ship Surveyors and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Society of Consulting Marine Engineers and Ship Surveyors has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Society of Consulting Marine Engineers and Ship Surveyors. You consider that Society of Consulting Marine Engineers and Ship Surveyors 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 financial statements of Society of Consulting Marine Engineers and Ship Surveyors. 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 f inancial statements.

Carpenter Box
11 June 2026
Chartered Accountants
Suite 002 Central
Ground Floor, Building 1000
Lakeside North Harbour
Portsmouth
Hampshire
PO6 3EN
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
376,390
26,137
Current assets
Debtors
4
84,103
56,915
Investments
5
10,520
52,789
Cash at bank and in hand
117,579
173,790
212,202
283,494
Creditors: amounts falling due within one year
6
(92,209)
(62,314)
Net current assets
119,993
221,180
Total assets less current liabilities
496,383
247,317
Creditors: amounts falling due after more than one year
7
(227,353)
-
0
Net assets
269,030
247,317
Reserves
Income and expenditure account
269,030
247,317
Members' funds
269,030
247,317

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

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

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.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 11 June 2026 and are signed on its behalf by:
M A Clegg
Director
Company registration number 00164726 (England and Wales)
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Society of Consulting Marine Engineers and Ship Surveyors is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 11, Mill Court, Durley, The Sawmills, Southampton, Hampshire, SO32 2EJ.

1.1
Accounting convention

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £1.

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

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents income from subscriptions, services provided to members and the issuing of certificates for the Maritime and Coastguard Agency.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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:

Freehold land and buildings
2% straight line
Fixtures and fittings
15% reducing balance
Computers
33.3% straight line
Office equipment
15% 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 surplus or deficit.

1.5
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.

SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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.

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.

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 and bank loans 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.

1.7
Taxation

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

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.

1.8
Retirement benefits

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 7 (2024 - 9).

SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Office equipment
Total
£
£
£
£
£
Cost
At 1 January 2025
-
0
5,030
43,576
21,660
70,266
Additions
356,201
-
0
2,856
240
359,297
At 31 December 2025
356,201
5,030
46,432
21,900
429,563
Depreciation and impairment
At 1 January 2025
-
0
1,545
32,291
10,293
44,129
Depreciation charged in the year
405
523
6,296
1,820
9,044
At 31 December 2025
405
2,068
38,587
12,113
53,173
Carrying amount
At 31 December 2025
355,796
2,962
7,845
9,787
376,390
At 31 December 2024
-
0
3,485
11,285
11,367
26,137
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
54,054
39,354
Other debtors
30,049
17,561
84,103
56,915
5
Current asset investments
2025
2024
£
£
Other investments
10,520
52,789
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,363
-
0
Trade creditors
14,296
10,432
Taxation and social security
5,791
4,917
Other creditors
66,759
46,965
92,209
62,314
SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
227,353
-
0

The long-term NatWest bank loan is secured by a fixed charge over the company’s freehold property. Interest is charged at 2.6% over the Bank of England base rate.

8
Company Status

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.

9
Operating lease commitments

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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