Registration number:
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GPS Marine and Civil Services Ltd
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Brebners
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GPS Marine and Civil Services Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Financial Statements |
GPS Marine and Civil Services Ltd
Company Information
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Directors |
Mr A S Cook Mr P L Day Mr J B Spencer |
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Registered office |
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Auditor |
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GPS Marine and Civil Services Ltd
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company is that of civil engineering construction projects.
Fair review of the business
The company is one of the Southeast of England's most diverse and capable marine construction businesses, delivering a broad range of specialist civil engineering and marine construction services across a variety of projects.
The company has delivered a strong financial performance during the year, with a significant increase in profitability despite a reduction in turnover compared with the prior year. Turnover for the year ended 31 December 2025 was £15.9 million, compared with £20.7 million in 2024.
Cost of sales also reduced significantly during the year, from £18.5 million in 2024 to £11.2 million in 2025. This reduction reflects a combination of improved operational efficiencies, effective project management and the nature and mix of projects undertaken during the year.
In particular, the company has continued to focus on controlling project costs and improving the efficiency with which its resources are deployed. During 2024, a single project incurred disproportionately high costs, which had a significant adverse effect on the company's profitability for that year. The circumstances giving rise to these additional costs were not repeated during 2025, contributing to the substantial improvement in the company's overall financial performance.
The company has also achieved savings in subcontractor expenditure through the recruitment and deployment of suitably skilled employees, enabling certain specialist activities and project requirements to be brought in-house. This has reduced reliance on external subcontractors, while also providing the company with greater control over project delivery, quality, scheduling and costs.
Further efficiencies have been achieved through improved procurement and bulk purchasing arrangements, better utilisation of plant and equipment across projects and improved project planning and resource allocation. These measures have supported the company in delivering projects more efficiently and have contributed to the improvement in margins during the year.
During the year, the company successfully undertook a number of significant civil engineering and marine construction projects. These included work at Bewl Reservoir, where the company constructed an emergency drawdown facility, and at the former Borax Jetty at Cory Riverside Energy Park, where the Group successfully demolished and made safe the existing structure before constructing a new quay wall.
GPS Marine and Civil Services Ltd
Strategic Report for the Year Ended 31 December 2025
Other notable projects undertaken during the year included Cory Waste Transfer Station Redevelopment which started in 2024 and completed throughout 2025. These projects demonstrate the breadth of the company's technical capabilities and its ability to undertake complex and specialist works in challenging environments.
The successful delivery of these and other projects, with works completed ahead of programme and within budget where applicable, has contributed significantly to the company's improved profitability. Profit before tax for the year was £3.3 million, representing a significant increase from £2.0 million in 2024.
The directors are satisfied with the company's performance during the year and consider that the improvements made in project management, cost control, resource utilisation and operational efficiency provide a strong platform for continued performance. The company enters the next financial year with a well-maintained project portfolio and a continued focus on delivering projects safely, efficiently and to a high standard.
The directors anticipate that the operational efficiencies achieved during the year, together with the Group's established reputation, technical expertise and project capabilities, will continue to support the Group's performance in the year ahead.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£ |
15,930,181 |
20,676,483 |
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Gros profit percentage |
% |
29.4 |
10.5 |
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Return on Capital employed |
% |
77.8 |
43 |
The company seeks to ensure that responsible business practice is fully integrated into the management of its operational culture to parts of its business. It believes that the consistent adoption of reasonable business practice is essential for operational excellence and maintain compliance within the industry sector which in turn ensures the delivery of its core objectives of sustained profitability.
The directors consider there are collectively numerous non-financial performance indicators but that individually none are key.
GPS Marine and Civil Services Ltd
Strategic Report for the Year Ended 31 December 2025
Operational risk
Operational risk is caused by failures in business processes or the systems or physical infrastructure that support them that have the potential to result in financial loss or damage the company's reputation. This includes errors, omissions, systems failure, lack of resources or physical assets and deliberate acts such as fraud.
The directors impose continuing self assessment and appraisals along with continually seeking to improve its operating efficiencies and standards.
Credit risk
Credit risk is the risk that counter-parties will not be able to meet their obligations as they fall due. The company closely monitors outstanding debts from all sources resulting in minimal exposure.
Liquidity risk
The company ensures that liquidity is maintained and financial obligations are met by monitoring the cash balances daily to ensure it retains flexibility in the management of cash flow. In the event that cash flows would not cover financial obligations the company has credit facilities available.
Market risk
The availability of available projects is a risk within the market. However the company is well situated and has the reputation and expertise to be capable of executing marine projects in the area.The directors also feel the reputation and position in the South East ensure it is not exposed to significant market risk.
Foreign currency risk
As the company operates soley in the UK it is not exposed to foreign currency risk.
Interest rate risk
Interest rates are regularly monitored by the directors. The directors ensure that sufficient resources are available so obligations can be met when they fall due.
Risk summary
The directors continuously monitor and respond to changes in the company's risk environment and this has been subject to regular review processes, so ensuring that the company remains well placed to address operational, financial and business risks in a timely and appropriate manner.
Future Developments
The company will continue to work on marine contracts in the South East of England. They will continue to develop the business and refine the projects undertaken to increase profitability without losing the personal touch to the customer. They will continue to maintain the reputation they have built over the last few years and cement their place as the go to marine construction business in the area. The directors will continue to work to develop long term sustainable business and to develop any major project opportunities that arise.
GPS Marine and Civil Services Ltd
Strategic Report for the Year Ended 31 December 2025
Approved by the
.........................................
Director
GPS Marine and Civil Services Ltd
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
During the year an interim dividend of £687,500 (2024: £375,000) was declared and paid. No final dividend is proposed.
Information included in the Strategic Report
The business review and financial risk management policies have been reported in Strategic Report.
Directors' liabilities
The company maintains Directors and officers liability insurance for directors and officers as permitted by sector
233 of the Companies Act 2006.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the director on
.........................................
Mr A S Cook
Director
GPS Marine and Civil Services Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
GPS Marine and Civil Services Ltd
Independent Auditor's Report to the Members of GPS Marine and Civil Services Ltd
for the Year Ended 31 December 2025
Opinion
We have audited the financial statements of GPS Marine and Civil Services Ltd (the 'company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
GPS Marine and Civil Services Ltd
Independent Auditor's Report to the Members of GPS Marine and Civil Services Ltd
for the Year Ended 31 December 2025
Other Matters
The comparatives to 31 December 2024 are unaudited.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities (set out on page 7), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
GPS Marine and Civil Services Ltd
Independent Auditor's Report to the Members of GPS Marine and Civil Services Ltd
for the Year Ended 31 December 2025
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the marine construction industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws and environmental legislation, health and safety legislation, anti-bribery legislation, data protection legislation, international maritime regulations. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management and those responsible for legal and compliance procedures. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
GPS Marine and Civil Services Ltd
Independent Auditor's Report to the Members of GPS Marine and Civil Services Ltd
for the Year Ended 31 December 2025
......................................
For and on behalf of
1 Suffolk Way
TN13 1YL
GPS Marine and Civil Services Ltd
Statement of Income and Retained Earnings for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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|
|
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Interest payable and similar charges |
( |
( |
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(17,747) |
(4,927) |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
|
|
|
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Retained earnings brought forward |
2,266,578 |
1,828,865 |
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Dividends paid |
( |
( |
|
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Retained earnings carried forward |
4,147,508 |
2,266,578 |
GPS Marine and Civil Services Ltd
Statement of Financial Position as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
|||
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Debtors |
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Cash at bank and in hand |
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- |
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|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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|
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
100 |
100 |
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Share premium reserve |
39,980 |
39,980 |
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Retained earnings |
4,147,508 |
2,266,578 |
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Shareholders' funds |
4,187,588 |
2,306,658 |
Approved and authorised by the
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Company registration number: 13100802
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of civil engineering construction projects.
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Going concern
The company made a profit for the year ended 31 December 2025 and had net assets at that date of £4,187,588 including cash at bank of £2,255,564.
The company has continued to trade profitably subsequent to 31 December 2025 and the directors have produced cashflow forecasts for a period exceeding 12 months from the date of approval of the financial statements which demonstrates the company has sufficient working capital.
After making enquires, the directors have a reasonable expectation that the company has adequate resources to meet its financial obligations as they become due and therefore the financial statements have been prepared on the going concern basis.
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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue based upon the stage of contractual completion once the amount can be reliably measured and it is probable that future economic benefit will flow to the entity.
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
7.7% reducing balance |
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Furniture, fittings and equipment |
25% Straight line |
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Motor vehicles |
25% Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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 income statement 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.
Finance leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2025 |
2024 |
|
|
Sale of goods |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Foreign exchange gains |
( |
( |
|
Operating lease expense - plant and machinery |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
- |
|
Interest expense on other finance liabilities |
|
|
|
|
|
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Operations |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
160,125 |
136,011 |
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
- |
|
Other fees to auditors |
||
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Taxation compliance services |
|
- |
|
All other assurance services |
|
- |
|
|
- |
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Other timing differences |
- |
( |
|
Total tax charge |
|
|
Deferred tax
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Deferred tax assets and liabilities
|
2025 |
Liability |
|
|
|
|
|
|
2024 |
Liability |
|
|
|
|
|
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
|||||
|
At 1 January 2025 |
- |
|
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|
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Additions |
|
|
|
|
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At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
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At 1 January 2025 |
- |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
At 31 December 2025 |
- |
|
|
|
|
|
Carrying amount |
|||||
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At 31 December 2025 |
|
|
|
|
|
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At 31 December 2024 |
- |
|
|
|
|
Included within the net book value of land and buildings above is £618 (2024 - £Nil) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and equipment |
105,476 |
114,276 |
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
|
|
Amounts recoverable under contracts |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
- |
|
Bank overdrafts |
- |
( |
|
Cash and cash equivalents in statement of cash flows |
2,255,564 |
(123,331) |
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts due to group undertakings |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax liability |
795,775 |
169,011 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Additional provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary shares of £1 each |
100 |
100 |
100 |
100 |
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Hire purchase obligations |
|
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank overdrafts |
- |
|
|
Hire purchase obligations |
|
|
|
|
|
|
Obligations under hire purchase obligations are secured on the fixed assets as shown in note 10.
Bank overdrafts are secured by a fixed and floating charge over the assets and undertakings of the company.
GPS Marine and Civil Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £ |
|
|
||
|
Related party transactions |
The company has taken advantage of FRS 102 paragraph 33.1A not to disclose transactions or amounts falling due with wholly owned undertakings.
|
Ultimate Parent Company |
The company is a wholly owned subsidiary of GPS MACS Holdings Limited, which is also the ultimate parent undertaking and is the parent of the smallest and largest group preparing group accounts incorporating the results of the company. The registered address of GPS MACS Holding Limited is GPS Marine House, Upnor Road, Lower Upnor, Rochester, Kent ME2 4UY.