Registered number
SC791822
Ocean Wind Power Limited
Filleted Accounts
31 December 2024
Ocean Wind Power Limited
Registered number: SC791822
Balance Sheet
as at 31 December 2024
Notes 2024
£
Fixed assets
Tangible assets 3 35,874
Current assets
Cash at bank and in hand 24,848
Creditors: amounts falling due within one year 4 (5,647)
Net current assets 19,201
Net assets 55,075
Capital and reserves
Called up share capital 100
Profit and loss account 54,975
Shareholder's funds 55,075
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Webster
Director
Approved by the board on 2 June 2025
Ocean Wind Power Limited
Notes to the Accounts
for the period from 8 December 2023 to 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Vehciles 25% by Reducing Balance
Plant and machinery 20% by Reducing Balance
Fixtures, fittings, tools and equipment 20% by Reducing Balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 841 36,600 37,441
At 31 December 2024 841 36,600 37,441
Depreciation
Charge for the period 42 1,525 1,567
At 31 December 2024 42 1,525 1,567
Net book value
At 31 December 2024 799 35,075 35,874
4 Creditors: amounts falling due within one year 2024
£
Taxation and social security costs 4,920
Other creditors 727
5,647
5 Other information
Ocean Wind Power Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
37 David Street
Kirkcaldy
Fife
KY1 1XB
Ocean Wind Power Limited SC791822 false 2023-12-08 2024-12-31 2024-12-31 VT Final Accounts April 2025 R Webster No description of principal activity SC791822 2023-12-08 2024-12-31 SC791822 bus:PrivateLimitedCompanyLtd 2023-12-08 2024-12-31 SC791822 bus:AuditExemptWithAccountantsReport 2023-12-08 2024-12-31 SC791822 bus:Director40 2023-12-08 2024-12-31 SC791822 2 2023-12-08 2024-12-31 SC791822 core:PlantMachinery 2023-12-08 2024-12-31 SC791822 core:Vehicles 2023-12-08 2024-12-31 SC791822 countries:England 2023-12-08 2024-12-31 SC791822 bus:FRS102 2023-12-08 2024-12-31 SC791822 bus:FilletedAccounts 2023-12-08 2024-12-31 SC791822 2024-12-31 SC791822 core:WithinOneYear 2024-12-31 SC791822 core:ShareCapital 2024-12-31 SC791822 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC791822 core:PlantMachinery 2024-12-31 SC791822 core:Vehicles 2024-12-31 SC791822 2023-12-07 iso4217:GBP xbrli:pure