MARITIME DEVELOPMENTS LIMITED

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

AAB Audit & Accountancy Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. 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.”

Group structure

1. MARITIME DEVELOPMENTS LIMITED · parent
   1. Peterhead Energy Services Base Limited 100% · United Kingdom
   2. Maritime Developments Inc 100% · USA
   3. Maritime Developments Brasil Ltda 100% · Brazil

Significant events

• “Strategic investment continued throughout the year, totalling approximately £23 million across new equipment, new facilities, test-bed capabilities, digital systems and the acquisition of the James Fisher PLC Life-of-Field business assets.”
• “This investment programme is scheduled for completion during FY26 and will position the Group and Company for accelerated growth in FY27 and FY28.”
• “International expansion remains a core strategic focus. Enhanced fleet capacity will support the permanent deployment of assets across the Group's operating regions, enabling sustainable long-term growth.”
• “The renewable energy market, and in particular floating offshore wind, continues to experience delays. Nevertheless, the sector remains an important component of the Group's future strategy. The Group plans to deploy significant resources in preparation for anticipated opportunities in the UK market from next year.”
• “The Group intends to invest substantial capital over the next 36 months in the development of a new energy service base in Peterhead. This facility is expected to support both the emerging floating wind market and traditional energy-sector decommissioning activities.”

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

4

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +9.4%

  £36,732,251 → £40,202,998

• Cash

  -7.8%

  £4,839,629 → £4,461,959

• Net assets

  +35.2%

  £14,515,506 → £19,622,552

• Employees

  +26.1%

  119 → 150

• Operating profit

  +29.4%

  £10,855,421 → £14,051,755

• Profit before tax

  +17.4%

  £8,333,881 → £9,786,609

• Wages

  +29.1%

  £9,191,356 → £11,867,835

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