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Logo On Report
Registered Number: SC583152
Scotland

 

 

 

OUTREACH OFFSHORE LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025

OUTREACH OFFSHORE LIMITED
Contents Page
For the year ended 31 January 2025
Directors Gary Potts
Derek Payne
Karen Payne
Laura Potts
Registered Number SC583152
Registered Office Abbots Road
Middlefield Industrial Estate
Falkirk
FK2 9AR
Accountants Libratum Accountancy Ltd
96-98 Forrest Street
Clarkston
Airdrie
Lanarkshire
ML6 7AG
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 January 2025
Principal activities
The companys principal activity during the year was the sale and repair of marine equipment.
Directors
The directors who served the company throughout the year were as follows:
Gary Potts
Derek Payne
Karen Payne
Laura Potts
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Gary Potts
Director

Date approved: 03 September 2025
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 January 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Libratum Accountancy Ltd
31 January 2025



....................................................
Craig Stirling MAAT
Libratum Accountancy Ltd
96-98 Forrest Street
Clarkston
Airdrie
Lanarkshire
ML6 7AG
03 September 2025
3
 
 		 Notes
 		 2025
£		   2024
£
Fixed assets      
Tangible fixed assets 3 39,645    18,940 
39,645    18,940 
Current assets      
Stocks 4 299,461    109,435 
Debtors 5 1,131,487    700,316 
Cash at bank and in hand 727,648    905,507 
2,158,596    1,715,258 
Creditors: amount falling due within one year 6 (1,251,601)   (970,468)
Net current assets 906,995    744,790 
 
Total assets less current liabilities 946,640    763,730 
Provisions for liabilities 7 (9,911)   8,277 
Net assets 936,729    772,007 
 

Capital and reserves 		     
Called up share capital 8 1    1 
Profit and loss account 936,728    772,006 
Shareholders' funds 936,729    772,007 
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 September 2025 and were signed on its behalf by:


-------------------------------
Gary Potts
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2023 1  614,249  614,250 
Profit for the year 520,757  520,757 
Total comprehensive income for the year -  520,757  520,757 
Dividends (363,000) (363,000)
Total investments by and distributions to owners -  (363,000) (363,000)
At 31 January 2024 1  772,006  772,007 
At 01 February 2024 1  772,006  772,007 
Profit for the year 664,722  664,722 
Total comprehensive income for the year -  664,722  664,722 
Dividends (500,000) (500,000)
Total investments by and distributions to owners -  (500,000) (500,000)
At 31 January 2025 1  936,728  936,729 
5
General Information
OUTREACH OFFSHORE LIMITED is a private company, limited by shares, registered in Scotland, registration number SC583152, registration address Abbots Road, Middlefield Industrial Estate, Falkirk, FK2 9AR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 20% SL
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 25 (2024 : 24).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2024 77,410    77,410 
Additions 28,287    28,287 
Disposals -    - 
At 31 January 2025 105,697    105,697 
Depreciation
At 01 February 2024 58,470    58,470 
Charge for year 7,582    7,582 
On disposals -    - 
At 31 January 2025 66,052    66,052 
Net book values
Closing balance as at 31 January 2025 39,645    39,645 
Opening balance as at 01 February 2024 18,940    18,940 


4.

Stocks

2025
£		   2024
£
Work in Progress 181,650    41,697 
Stocks 117,811    67,738 
299,461    109,435 

5.

Debtors: amounts falling due within one year

2025
£		   2024
£
Trade Debtors 1,099,567    661,112 
Other Debtors 31,920    39,204 
1,131,487    700,316 

6.

Creditors: amount falling due within one year

2025
£		   2024
£
Trade Creditors 328,474    209,661 
Taxation and Social Security 553,387    367,132 
Other Creditors 369,740    393,675 
1,251,601    970,468 

7.

Provisions for liabilities

2025
£		   2024
£
Deferred Tax 9,911    (8,277)
9,911    (8,277)

8.

Share Capital

Allotted, called up and fully paid
2025
£		   2024
£
1 Class A share of £1.00 each 1    1 
1    1 

9.

Director’s loan

Directors loan

At the year end, the company owed the directors:

  2025
£		   2024
£
Directors loan 10,364  8,601 
10,364  8,601 
10.

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

  2025
£		   2024
£
Due within one year 56,032  56,555 
Due after one year 23,728  66,548 
79,760  123,103 


11.

Secured debts

The Santander UK Plc holds a floating charge over the assets and undertakings of the company. At the yearend, the company had no bank borrowings.
12.

Related party disclosures

During the year, the company paid Outreach Offshore Holdings Limited,  it's parent company £35,999 in management fees.
At the year end, the company owed Outreach Offshore Holdings Limited, £Nil 
13.

Ultimate Controlling Party

The company's ultimate controlling party is Outreach Offshore Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
6