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REGISTERED NUMBER: SC315162 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

WS Offshore Services Ltd.

WS Offshore Services Ltd. (Registered number: SC315162)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WS Offshore Services Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr W Spence
Mrs K I Spence





REGISTERED OFFICE: 44 Richmondhill Road
Peterhead
Aberdeenshire
AB42 3GG





REGISTERED NUMBER: SC315162 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

WS Offshore Services Ltd. (Registered number: SC315162)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,810 15,747

CURRENT ASSETS
Debtors 5 3,701 7,093
Cash at bank 6,400 13,323
10,101 20,416
CREDITORS
Amounts falling due within one year 6 11,494 16,137
NET CURRENT (LIABILITIES)/ASSETS (1,393 ) 4,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,417

20,026

CREDITORS
Amounts falling due after more than one
year

7

(12,405

)

(16,587

)

PROVISIONS FOR LIABILITIES (2,244 ) (2,992 )
NET (LIABILITIES)/ASSETS (4,232 ) 447

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (4,234 ) 445
SHAREHOLDERS' FUNDS (4,232 ) 447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WS Offshore Services Ltd. (Registered number: SC315162)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr W Spence - Director


WS Offshore Services Ltd. (Registered number: SC315162)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

WS Offshore Services Ltd. 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

WS Offshore Services Ltd. (Registered number: SC315162)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 27,995 333 28,328
Disposals - (333 ) (333 )
At 31 March 2024 27,995 - 27,995
DEPRECIATION
At 1 April 2023 12,248 333 12,581
Charge for year 3,937 - 3,937
Eliminated on disposal - (333 ) (333 )
At 31 March 2024 16,185 - 16,185
NET BOOK VALUE
At 31 March 2024 11,810 - 11,810
At 31 March 2023 15,747 - 15,747

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 27,995
DEPRECIATION
At 1 April 2023 12,248
Charge for year 3,937
At 31 March 2024 16,185
NET BOOK VALUE
At 31 March 2024 11,810
At 31 March 2023 15,747

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 2,400
Other debtors 3,701 4,693
3,701 7,093

WS Offshore Services Ltd. (Registered number: SC315162)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 4,181 4,181
Taxation and social security 5,123 9,622
Other creditors 2,190 2,334
11,494 16,137

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 12,405 16,587

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr W Spence and Mrs K I Spence
Balance outstanding at start of year 3,029 132
Amounts advanced - 3,389
Amounts repaid (395 ) (492 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,634 3,029