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REGISTERED NUMBER: SC722721 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Voe Marine Services Ltd

Voe Marine Services Ltd (Registered number: SC722721)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Voe Marine Services Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: G P Tait
R G Tait





REGISTERED OFFICE: Kirkidale Business Park
Walls
Shetland
ZE2 9QX





REGISTERED NUMBER: SC722721 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

Voe Marine Services Ltd (Registered number: SC722721)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,177,532 1,298,734

CURRENT ASSETS
Debtors 5 77,245 74,746
Cash at bank 51,610 84,821
128,855 159,567
CREDITORS
Amounts falling due within one year 6 111,438 220,440
NET CURRENT ASSETS/(LIABILITIES) 17,417 (60,873 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,194,949 1,237,861

CREDITORS
Amounts falling due after more than one
year

7

(779,417

)

(832,136

)

PROVISIONS FOR LIABILITIES (80,613 ) (77,115 )
NET ASSETS 334,919 328,610

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 285,208 300,219
Retained earnings 49,611 28,291
334,919 328,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Voe Marine Services Ltd (Registered number: SC722721)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:




R G Tait - Director



G P Tait - Director


Voe Marine Services Ltd (Registered number: SC722721)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Voe Marine 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - is not depreciated
Boats - 5% on reducing balance
Plant and machinery - 15% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

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

Voe Marine Services Ltd (Registered number: SC722721)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property Boats machinery Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2023 77,400 1,229,869 2,598 1,309,867
Disposals - (66,320 ) - (66,320 )
At 30 April 2024 77,400 1,163,549 2,598 1,243,547
DEPRECIATION
At 1 May 2023 - 10,711 422 11,133
Charge for year - 58,071 390 58,461
Eliminated on disposal - (3,579 ) - (3,579 )
At 30 April 2024 - 65,203 812 66,015
NET BOOK VALUE
At 30 April 2024 77,400 1,098,346 1,786 1,177,532
At 30 April 2023 77,400 1,219,158 2,176 1,298,734

Cost or valuation at 30 April 2024 is represented by:

Freehold Plant and
property Boats machinery Totals
£    £    £    £   
Valuation in 2022 - 300,219 - 300,219
Cost 77,400 863,330 2,598 943,328
77,400 1,163,549 2,598 1,243,547

Revaluation of boat M/V Provider has been made in accordance with the valuation placed on this boat by C. W. C. Brown MIMarEST.

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 45,064 40,129
Other debtors 9,181 34,617
54,245 74,746

Amounts falling due after more than one year:
Other debtors 23,000 -

Aggregate amounts 77,245 74,746

Voe Marine Services Ltd (Registered number: SC722721)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 50,447 50,447
Trade creditors 17,243 82,311
Taxation and social security 17,184 50,237
Other creditors 26,564 37,445
111,438 220,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 81,616 132,064
Other creditors 697,801 700,072
779,417 832,136

8. RESERVES
Revaluation
reserve
£   
At 1 May 2023 300,219
Release from reserve (15,011 )

At 30 April 2024 285,208

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby they have occurred under normal market conditions.