SLC Marine Services Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

SLC Marine Services Limited

(Registration number: 09519117)
Statement of Financial Position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	249,489	263,445
Current assets
Debtors	5	72,191	51,800
Cash at bank and in hand		53,510	31,005
		125,701	82,805
Creditors: Amounts falling due within one year	6	(20,503)	(11,246)
Net current assets		105,198	71,559
Total assets less current liabilities		354,687	335,004
Creditors: Amounts falling due after more than one year	6	(30,000)	(39,000)
Provisions for liabilities		(62,372)	(65,861)
Net assets		262,315	230,143
Capital and reserves
Called up share capital		2	2
Profit and loss account		262,313	230,141
Shareholders' funds		262,315	230,143

For the financial year ending 31 March 2026 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 Statement of Comprehensive Income.

Approved and authorised by the director on 24 September 2026
 

Mr D A Smith Director

SLC Marine Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is the operation of pilot boats and other marine vessels.

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 are prepared in sterling which is the functional currency of the entity.

SLC Marine Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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
Fittings fixtures and equipment	15% reducing balance
Pilot Boats	5% straight line

SLC Marine Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

SLC Marine Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

4	Tangible assets

	Fixtures, fittings and equipment £	Pilot Boats £	Total £
Cost or valuation
At 1 April 2025	6,095	300,000	306,095
Additions	2,057	-	2,057
At 31 March 2026	8,152	300,000	308,152
Depreciation
At 1 April 2025	1,400	41,250	42,650
Charge for the year	1,013	15,000	16,013
At 31 March 2026	2,413	56,250	58,663
Carrying amount
At 31 March 2026	5,739	243,750	249,489
At 31 March 2025	4,695	258,750	263,445

5

Debtors

	2026 £	2025 £
Trade debtors	44,934	33,180
Other debtors	21,292	17,205
Prepayments	5,965	1,415
	72,191	51,800

SLC Marine Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Taxation and social security	18,203	9,041
Accruals and deferred income	2,300	2,205
	20,503	11,246

Creditors: amounts falling due after more than one year

		2026 £	2025 £
Loans and borrowings		30,000	39,000

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with the director

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Mr D A Smith
Director	11,679	23,665	(19,925)	15,419

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr D A Smith
Director	(8,139)	23,094	(3,276)	11,679