BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED

1. BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED 2021-01-05 → present
2. MARITIME ASSURANCE & CONSULTING LIMITED 2010-06-21 → 2021-01-05

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

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors, having considered the future performance of the company by reviewing detailed forecasts and made the necessary enquiries, have decided to continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. These forecasts are dependent on the Company's ultimate parent entity Bureau Veritas SA, not seeking repayment of its unsecured loan, which at the date of approving these financial statements amounts to £8,074,306. Although the loan facility is repayable on demand, the overriding centralised cash management agreement with the Bureau Veritas group means that it will only be repaid in instalments when there is cash surplus to business requirements of the company. This position has been confirmed with the group cash director and has been relied upon when making our going concern assessment and preparing forecasts. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED · parent
   1. Bureau Veritas Solutions Marine & Offshore SAS 100% · France · Engineering, inspection and consultancy services

Significant events

• “The company considers the principal risk and uncertainty affecting the business is recruitment and retention of key staff. This risk is managed through structured and focussed recruitment campaigns along with staff training, development programmes and incentive schemes designed to promote staff retention.”
• “Other risks that the organisation faces include the performance of the construction sector as a whole and the threat of competition. These risks are mitigated by a diverse range of services, competitive pricing and a high-quality product.”
• “The company is committed to the development of employees and thereby, to employees' greater involvement in its operations. The company holds periodic meetings between local management and employees to discuss matters likely to affect employees' interests and to allow a free flow of information. During the period the company has provided training for employees at all levels through a structured programme of courses, seminars and workshops.”
• “The policy of the company is to ensure, as far as it is able to do so, the health, safety and welfare of everyone engaged in or affected by its business.”
• “The company endorses the active application of equal opportunities policies and programmes to provide fair and equitable conditions for employees regardless of sex, family status, religion, creed, colour, ethnic origin, age or disability.”
• “It is the policy of the company to give full and fair consideration to applications for employment received from disabled persons. Within the limitations of their abilities, they are given the same opportunities for training, career development and promotion as are available to other employees and if necessary, retraining is given to an employee who becomes disabled whilst in the Company's employment.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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

  +34.4%

  £7,489,139 → £10,062,538

• Cash

  +34.5%

  £44,854 → £60,333

• Net assets

  +26.2%

  £2,229,437 → £2,813,113

• Employees

  +17.2%

  29 → 34

• Operating profit

  +264.9%

  £438,987 → £1,601,668

• Profit before tax

  +6,226.4%

  £17,795 → £1,125,779

• Wages

  +28.6%

  £2,277,112 → £2,928,862

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