AWS OCEAN ENERGY LIMITED

Company Registration Number:
SC268223 (Scotland)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

AWS OCEAN ENERGY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

AWS OCEAN ENERGY LIMITED

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

the development of technology for generation of electricity from the power in ocean waves and consultancy services in that field.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Simon Grey
Judith Monson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 September 2024

And signed on behalf of the board by:
Name: Simon Grey
Status: Director

AWS OCEAN ENERGY LIMITED

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 211 846
Investments:   0 0
Total fixed assets: 211 846
Current assets
Stocks:   0 0
Debtors: 4 1,961,196 2,105,249
Cash at bank and in hand: 130,719 79,363
Investments:   0 0
Total current assets: 2,091,915 2,184,612
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 105,894 ) ( 48,178 )
Net current assets (liabilities): 1,986,021 2,136,434
Total assets less current liabilities: 1,986,232 2,137,280
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 1,986,232 2,137,280
Capital and reserves
Called up share capital: 64,045 64,045
Share premium account: 18,377,105 18,377,105
Other reserves: 0 0
Profit and loss account: (16,454,918 ) (16,303,870 )
Total Shareholders' funds: 1,986,232 2,137,280

The notes form part of these financial statements

AWS OCEAN ENERGY LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 September 2024
and signed on behalf of the board by:

Name: Simon Grey
Status: Director

The notes form part of these financial statements

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Computer Equipment at 33% straight line Motor Vehicle at 25% straight line

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 5

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 0 0 53,218 0 31,295 84,513
Additions 0 0 0 0 0 0
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 30 June 2024 0 0 53,218 0 31,295 84,513
Depreciation
At 1 July 2023 0 0 52,372 0 31,295 83,667
Charge for year 0 0 635 0 0 635
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 30 June 2024 0 0 53,007 0 31,295 84,302
Net book value
At 30 June 2024 0 0 211 0 0 211
At 30 June 2023 0 0 846 0 0 846

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 6,600
Prepayments and accrued income 0 11,324
Other debtors 1,961,196 2,087,325
Total 1,961,196 2,105,249
Debtors due after more than one year: 0 0

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 8,135 20,876
Taxation and social security 93,379 22,721
Accruals and deferred income 4,000 3,513
Other creditors 380 1,068
Total 105,894 48,178

AWS OCEAN ENERGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Financial Commitments

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.