SMULDERS PROJECTS UK LIMITED

1. SMULDERS PROJECTS UK LIMITED 2016-11-24 → present
2. SMULDERS UK LIMITED 2016-04-29 → 2016-11-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

UNW LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Taking all the above factors into account, the directors have a reasonable expectation that the company has adequate resources to meet its liabilities as they fall due and continue in operational existence for the foreseeable future without significant curtailment of operations, Accordingly, the financial statements are prepared on a going concern basis with no material uncertainty identified.”

Significant events

• “In 2022, alterations to the yard began, with large investments being made to allow for the He Dreiht Project, the manufacturing of 64 transition pieces ('TP's').”
• “2023 saw the completion of a new shop allowing the welding, blasting and painting of the TP's to be carried out on one production line. The He Dreiht project and Inch Cape project brought the requirement for 500 additional personnel on the yard. The investment program was mainly realised in 2023, and all investments became operational during 2024.”
• “Office refurbishments began during the year with a requirement for more space per department due to an increase in personnel.”
• “The Baltic Power Project of 72 TP's commenced, with 68 TP's in full production by the end of the year. June 2024 also seen the last load out of the He Dreiht Project, 64 TP's.”
• “The purchase of the yard by Smulders in 2021 brought the existing lease agreement between the Company and Shepherd Offshore Group to an end. However, a new agreement of a put option deed was entered into, which allows the Company to sell the freehold back to Shepherd Offshore Group at any time within a period of 10 years, should the Company come to a point of having no project work.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +158.6%

  £31,157,000 → £80,572,000

• Cash

  -61.9%

  £3,052,000 → £1,162,000

• Net assets

  +1,350.3%

  £155,000 → £2,248,000

• Employees

  +57%

  114 → 179

• Operating profit

  +43.7%

  £2,326,000 → £3,342,000

• Profit before tax

  +126%

  £926,000 → £2,093,000

• Wages

  +62.2%

  £5,688,000 → £9,225,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers