Harbour Marine Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02260477

Harbour Marine Services Limited

Unaudited financial statements

For the year ended

31 December 2025

Harbour Marine Services Limited

Statement of financial position

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		208,816		242,345

Current assets

Stocks	6	35,000	40,000
Debtors	7	189,120	344,880
Cash at bank and in hand		278,578	222,542
		---------	---------
		502,698	607,422

Creditors: Amounts falling due within one year	8	( 149,889)		( 178,426)
		---------		---------
Net current assets			352,809		428,996
			---------		---------
Total assets less current liabilities			561,625		671,341

Creditors: Amounts falling due after more than one year	9		( 9,965)		( 25,513)

Provisions

Taxation including deferred tax	( 40,626)	( 35,787)
	---------	---------
Net assets	511,034	610,041
	---------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	12,271	12,271
Profit and loss account	498,663	597,670
	---------	---------
Shareholders funds	511,034	610,041
	---------	---------

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 31 December 2025 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 .

Harbour Marine Services Limited

Statement of financial position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 31 August 2026 , and are signed on behalf of the board by:

Mr J Buckley

Director

Company registration number: 02260477

Harbour Marine Services Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Blackshore, Southwold Harbour, Southwold, Suffolk, IP18 6TA.

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

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.

Grant

Government grants in respect of capital expenditure are credited to fixed assets in accordance with FRS 102 Section 24 Accounting for Government Grants.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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.

Tangible assets

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold Land & Property	-	5% straight line
Plant & Machinery	-	20% reducing balance
Cafe Assets	-	15% reducing balance
Motor Vehicles	-	20% reducing balance
Office Equipment	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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

The company also makes gross contributions into the directors' personal pension schemes. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Average number of employees

The average number of employees during the year was 22 (2024: 24 ).

5. Tangible assets

	Leasehold land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2025	308,872	317,766	42,359	64,350	7,858	741,205
Additions	–	3,094	–	–	2,015	5,109
	---------	---------	-------	-------	------	---------
At 31 Dec 2025	308,872	320,860	42,359	64,350	9,873	746,314
	---------	---------	-------	-------	------	---------
Depreciation
At 1 Jan 2025	197,480	246,404	35,384	12,744	6,849	498,861
Charge for the year	9,549	14,767	3,583	10,321	417	38,637
	---------	---------	-------	-------	------	---------
At 31 Dec 2025	207,029	261,171	38,967	23,065	7,266	537,498
	---------	---------	-------	-------	------	---------
Carrying amount
At 31 Dec 2025	101,843	59,689	3,392	41,285	2,607	208,816
	---------	---------	-------	-------	------	---------
At 31 Dec 2024	111,392	71,362	6,975	51,606	1,009	242,344
	---------	---------	-------	-------	------	---------

6. Stocks

	2025	2024
	£	£
Raw materials and consumables	35,000	40,000
	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	49,689	98,655
Other debtors	139,431	246,225
	---------	---------
	189,120	344,880
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	23,120
Trade creditors	66,312	73,718
Social security and other taxes	72,239	72,778
Other creditors	11,338	8,810
	---------	---------
	149,889	178,426
	---------	---------

The following liabilities disclosed under creditors falling due within one year are secured by the company:

Bank loans and overdrafts £Nil (2024: £23,120)

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	10,049
Other creditors	9,965	15,464
	------	-------
	9,965	25,513
	------	-------

The following liabilities disclosed under creditors falling due after one year are secured by the company:

Bank loans and overdrafts £Nil (2024: £10,049)

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Later than 5 years	124,272	141,572
	---------	---------