Silverfin false false 31/08/2024 01/09/2023 31/08/2024 John Ross 31/05/2022 Stacey Ross 31/05/2022 28 May 2025 The principle activity of the Company continued to be that of fishing. SC734159 2024-08-31 SC734159 bus:Director1 2024-08-31 SC734159 bus:Director2 2024-08-31 SC734159 2023-08-31 SC734159 core:CurrentFinancialInstruments 2024-08-31 SC734159 core:CurrentFinancialInstruments 2023-08-31 SC734159 core:Non-currentFinancialInstruments 2024-08-31 SC734159 core:Non-currentFinancialInstruments 2023-08-31 SC734159 core:ShareCapital 2024-08-31 SC734159 core:ShareCapital 2023-08-31 SC734159 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC734159 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC734159 core:PlantMachinery 2023-08-31 SC734159 core:Vehicles 2023-08-31 SC734159 core:OfficeEquipment 2023-08-31 SC734159 core:PlantMachinery 2024-08-31 SC734159 core:Vehicles 2024-08-31 SC734159 core:OfficeEquipment 2024-08-31 SC734159 bus:OrdinaryShareClass1 2024-08-31 SC734159 2023-09-01 2024-08-31 SC734159 bus:FilletedAccounts 2023-09-01 2024-08-31 SC734159 bus:SmallEntities 2023-09-01 2024-08-31 SC734159 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC734159 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC734159 bus:Director1 2023-09-01 2024-08-31 SC734159 bus:Director2 2023-09-01 2024-08-31 SC734159 core:PlantMachinery 2023-09-01 2024-08-31 SC734159 core:Vehicles 2023-09-01 2024-08-31 SC734159 core:OfficeEquipment 2023-09-01 2024-08-31 SC734159 2022-05-31 2023-08-31 SC734159 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 SC734159 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 SC734159 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC734159 bus:OrdinaryShareClass1 2022-05-31 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC734159 (Scotland)

ROSS MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

ROSS MARINE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

ROSS MARINE LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
ROSS MARINE LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Tangible assets 3 18,519 1,720
18,519 1,720
Current assets
Debtors 4 338 405
Cash at bank and in hand 3,418 3,955
3,756 4,360
Creditors: amounts falling due within one year 5 ( 9,722) ( 4,610)
Net current liabilities (5,966) (250)
Total assets less current liabilities 12,553 1,470
Creditors: amounts falling due after more than one year 6 ( 9,563) 0
Provision for liabilities ( 944) ( 362)
Net assets 2,046 1,108
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 1,946 1,008
Total shareholders' funds 2,046 1,108

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ross Marine Limited (registered number: SC734159) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

John Ross
Director
ROSS MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
ROSS MARINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Ross Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 5 Albyn Terrace, Aberdeen, AB10 1YP, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of labour services, net of VAT and trade discounts.

Turnover is recognised when the service is provided during the year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit & Loss Account

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include bank balances.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Year ended
31.08.2024
Period from
31.05.2022 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 September 2023 862 0 958 1,820
Additions 0 20,706 1,355 22,061
At 31 August 2024 862 20,706 2,313 23,881
Accumulated depreciation
At 01 September 2023 64 0 36 100
Charge for the financial year 160 4,745 357 5,262
At 31 August 2024 224 4,745 393 5,362
Net book value
At 31 August 2024 638 15,961 1,920 18,519
At 31 August 2023 798 0 922 1,720

4. Debtors

31.08.2024 31.08.2023
£ £
Prepayments 227 215
VAT recoverable 111 190
338 405

5. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Other taxation and social security 1,615 1,321
Obligations under finance leases and hire purchase contracts 4,414 0
Other creditors 3,693 3,289
9,722 4,610

Obligations under hire purchase contracts are secured over the assets to which they relate.

6. Creditors: amounts falling due after more than one year

31.08.2024 31.08.2023
£ £
Obligations under finance leases and hire purchase contracts 9,563 0

Obligations under hire purchase contracts are secured over the assets to which they relate.

7. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

31.08.2024 31.08.2023
£ £
Amounts owed to directors 859 914

This loan is interest free and has no fixed repayment terms.