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REGISTERED NUMBER: SC714240 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Willox Marine Solutions Ltd

Willox Marine Solutions Ltd (Registered number: SC714240)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Willox Marine Solutions Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr M A Willox
Mrs E A Willox





REGISTERED OFFICE: 96 Kirk Street
Peterhead
Aberdeenshire
AB42 1RY





REGISTERED NUMBER: SC714240 (Scotland)





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

Willox Marine Solutions Ltd (Registered number: SC714240)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,118 103,422

CURRENT ASSETS
Debtors 5 1,163 142,981
Cash at bank 337,335 121,940
338,498 264,921
CREDITORS
Amounts falling due within one year 6 61,050 53,770
NET CURRENT ASSETS 277,448 211,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,566

314,573

PROVISIONS FOR LIABILITIES 17,392 25,483
NET ASSETS 330,174 289,090

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 330,074 288,990
SHAREHOLDERS' FUNDS 330,174 289,090

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

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

Willox Marine Solutions Ltd (Registered number: SC714240)

Balance Sheet - continued
30 November 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 18 February 2025 and were signed on its behalf by:





Mr M A Willox - Director


Willox Marine Solutions Ltd (Registered number: SC714240)

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

1. STATUTORY INFORMATION

Willox Marine Solutions 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 each asset over its estimated useful life.
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

Willox Marine Solutions Ltd (Registered number: SC714240)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2023 159,044 3,097 162,141
Disposals (11,999 ) (516 ) (12,515 )
At 30 November 2024 147,045 2,581 149,626
DEPRECIATION
At 1 December 2023 56,955 1,764 58,719
Charge for year 23,273 851 24,124
Eliminated on disposal (3,000 ) (335 ) (3,335 )
At 30 November 2024 77,228 2,280 79,508
NET BOOK VALUE
At 30 November 2024 69,817 301 70,118
At 30 November 2023 102,089 1,333 103,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors - 142,881
Other debtors 1,163 100
1,163 142,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Taxation and social security 54,856 46,010
Other creditors 6,194 7,760
61,050 53,770

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Willox.