P.R. Offshore Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03151258

P.R. Offshore Services Limited

Unaudited financial statements

For the period ended

30 April 2026

P.R. Offshore Services Limited

Statement of financial position

30 April 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		54,995		58,518

Current assets

Debtors	6	3,000,934	3,481,035
Cash at bank and in hand		136,716	105,962
		-----------	-----------
		3,137,650	3,586,997

Creditors: Amounts falling due within one year	7	( 2,993,558)		( 2,800,214)
		-----------		-----------
Net current assets			144,092		786,783
			---------		---------
Total assets less current liabilities			199,087		845,301

Provisions

Taxation including deferred tax	( 3,061)	( 4,207)
	---------	---------
Net assets	196,026	841,094
	---------	---------

Capital and reserves

Called up share capital	2,520	2,520
Capital redemption reserve	480	480
Profit and loss account	193,026	838,094
	---------	---------
Shareholders funds	196,026	841,094
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 13 August 2026 , and are signed on behalf of the board by:

Mr P Reid
Director

Company registration number: 03151258

P.R. Offshore Services Limited

Notes to the financial statements

Year ended 30 April 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5A Quay View Business Park, Barnards Way, Lowestoft, NR32 2HD, Suffolk.

2. Statement of compliance

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'.

3. Accounting policies

Basis of preparation

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of 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. The financial statements have been prepared for the 13 month period from 1 April 2024 to 30 April 2025, with a 12 month comparative accounting period. The directors have extended the accounting period as they consider 30 April to be a more appropriate financial year end. Due to this, the comparative figures are not entirely comparable.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use,dismantling and restoration costs and borrowing costs capitalised.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	15% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 33 (2025: 44 ).

5. Tangible assets

	Equipment	Investment property	Total
	£	£	£
Cost
At 1 May 2025 and 30 April 2026	64,008	35,000	99,008
	-------	-------	-------
Depreciation
At 1 May 2025	40,490	–	40,490
Charge for the year	3,523	–	3,523
	-------	-------	-------
At 30 April 2026	44,013	–	44,013
	-------	-------	-------
Carrying amount
At 30 April 2026	19,995	35,000	54,995
	-------	-------	-------
At 30 April 2025	23,518	35,000	58,518
	-------	-------	-------

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Tangible assets held at valuation

The investment property was valued on 30 April 2025 by the directors on an open market basis.

6. Debtors

	2026	2025
	£	£
Trade debtors	1,826,042	1,899,068
Prepayments and accrued income	862,350	962,933
Directors current account	–	334,073
Other debtors	312,542	284,961
	-----------	-----------
	3,000,934	3,481,035
	-----------	-----------

7. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Trade creditors	663,339	784,966
Amounts owed to group undertakings	184,660	172,321
Accruals and deferred income	286,229	443,918
Corporation tax	69,408	145,745
Social security and other taxes	103,024	67,719
Director loan accounts	388,467	103,333
Invoice discounting facility	1,270,902	1,024,568
Other creditors	27,529	57,644
	-----------	-----------
	2,993,558	2,800,214
	-----------	-----------

The invoice discounting facility is secured by a fixed charge over all current freehold property, book and other debts. There is also a floating charge over all assets in the company.

8. Directors' advances, credits and guarantees

At the year end there was an overdrawn director's loan account balance of £Nil (2025: £ 334,074 ). The maximum overdrawn balance during the year was £334,074.