IDWAL MARINE SERVICES LIMITED

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +5.8%

  £11,229,696 → £11,877,357

• Cash

  -41%

  £2,379,174 → £1,404,389

• Net assets

  +54.2%

  £3,312,239 → £5,107,145

• Employees

  +18.5%

  54 → 64

• Operating profit

  -28.5%

  £2,462,584 → £1,760,629

• Profit before tax

  -27.8%

  £2,487,088 → £1,794,467

• Wages

  +15.3%

  £2,494,203 → £2,876,441

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

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

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors are satisfied with the Group's funding and liquidity position and have determined that the company is a going concern for a minimum period of 12-months from the date of these financial statements. Management believes that the company's cash flow forecasts and existing financial plans support this assessment. While there is some risk associated to political factors outside its control, management believes that it has taken adequate measures to mitigate this risk and ensure the company's continued operations. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.”

Group structure

1. IDWAL MARINE SERVICES LIMITED · parent
   1. Idwal Marine Services (Asia) PTE Limited 100% · Singapore · Shipping Inspections

Significant events

• “On 19th December 2024, the Group refinanced some of LDC's loan notes, totalling £6.249 million, with USD $8 million third-party term debt from Clydesdale Bank, trading as Virgin Money.”
• “IMS launched its market-leading Idwal ID platform in January 2024”
• “As part of the LDC investment in the Indigo 123 Group, there is an agreement whereby Indigo 123 Ltd can raise quarterly management recharges against IMS...we have restated the 2023 results to account for this $1.03m recharge.”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.