REGISTERED NUMBER: SC358091 (Scotland)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

SEAROUTE SUPPORT SERVICES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mark Breingan

Roderick Palmer

Allan Porter

John Sloss

REGISTERED OFFICE:

Suite 15

Dunnswood House

Dunnswood Road

Cumbernauld

G67 3EN

BUSINESS ADDRESS:

Regent House

36 Regent Quay

Aberdeen

AB11 5BE

REGISTERED NUMBER:

SC358091 (Scotland)

AUDITORS:

William Duncan (UK) Limited

Chartered Accountants

Statutory Auditor

4d Auchingramont Road

Hamilton

ML3 6JT

BANKERS:

The Royal Bank of Scotland plc

1 Roadside

The Village

Cumbernauld

G67 2SS

SOLICITORS:

Shepherd and Wedderburn LLP

1 Exchange Crescent

Conference Square

Edinburgh

EH3 8UL

FIXED ASSETS

Tangible assets

4

1,165

1,561

CURRENT ASSETS

Debtors

5

417,678

300,246

Cash at bank

25,457

26,915

443,135

327,161

CREDITORS

Amounts falling due within one year

6

116,797

140,467

NET CURRENT ASSETS

326,338

186,694

TOTAL ASSETS LESS CURRENT LIABILITIES

327,503

188,255

PROVISIONS FOR LIABILITIES

221

312

NET ASSETS

327,282

187,943

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

327,281

187,942

SHAREHOLDERS' FUNDS

327,282

187,943

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 December 2017 and were signed on its behalf by:

John Sloss - Director

1.	STATUTORY INFORMATION

Searoute Support Services Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Rendering of services

Turnover from the rendering of services, namely the provision of port services, is recognised by reference to the stage of

completion of the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered

an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is

estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced

to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its

recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been

recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

Financial instruments

Basic financial instruments are recognised as follows:

(i) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair

value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any

impairment.

(ii) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the

statement of financial position.

(iii) Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the statement of financial position date.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Employee benefits

Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in

which they are incurred.

Provisions for liabilities

The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current

period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at

the salary cost payable for the period of absence.

3.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 21 (2016 - 40 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

2,194

DEPRECIATION

At 1 April 2016

633

Charge for year

396

At 31 March 2017

1,029

NET BOOK VALUE

At 31 March 2017

1,165

At 31 March 2016

1,561

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

47,527

75,786

Amounts owed by group undertakings

370,151

224,460

417,678

300,246

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

24,707

34,852

Trade creditors

20,942

10,989

Amounts owed to group undertakings

47,159

47,159

VAT

10,260

26,594

Other creditors

5,742

14,880

Accrued charges

7,987

5,993

116,797

140,467

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank overdrafts

24,707

34,852

The Royal Bank of Scotland plc holds an Unlimited Inter Company Guarantee granted by all companies within the Searoute

Group.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Steel (Senior Statutory Auditor)

for and on behalf of William Duncan (UK) Limited

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Allan Porter.

The company's parent undertaking is Searoute Port Services (Aberdeen) Limited, Suite 15, Dunnswood House, Dunnswood

Road, Cumbernauld, G67 3EN.

The ultimate holding company is Searoute Group Limited, Suite 15, Dunnswood House, Dunnswood Road, Cumbernauld,

G67 3EN.

Copies of accounts can be obtained from Companies House.