REGISTERED NUMBER: 07070394 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NRG MARINE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D A Rowlands

R Bridges

REGISTERED OFFICE:

1&2 Mercia Business Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

07070394 (England and Wales)

INDEPENDENT AUDITORS:

Armstrongs Accountancy Ltd

Chartered Accountants and Statutory Auditor

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

ASSETS

FIXED ASSETS

Tangible assets

4

12,733

11,645

Investments

5

32,556

32,498

45,289

44,143

CURRENT ASSETS

Stocks

170,993

182,462

Debtors

6

1,962,986

1,636,361

Cash at bank

123,620

134,502

2,257,599

1,953,325

2,302,888

1,997,468

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

787

708

Share premium

7

249,748

249,748

Capital redemption reserve

7

-

79

Treasury shares

7

(250,000

)

(250,000

)

Retained earnings

7

886,209

815,191

SHAREHOLDERS' FUNDS

886,744

815,726

CREDITORS

8

1,416,144

1,181,742

2,302,888

1,997,468

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 28 August 2025 and were signed on its behalf by:

D A Rowlands - Director

1.	STATUTORY INFORMATION

NRG Marine Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Nrg Marine Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Turnover from the sale of products is recognised when significant risks and rewards of ownership of the goods have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

14,631

18,747

33,378

Additions

-

4,721

4,721

At 31 December 2024

14,631

23,468

38,099

DEPRECIATION

At 1 January 2024

8,907

12,826

21,733

Charge for year

1,431

2,202

3,633

At 31 December 2024

10,338

15,028

25,366

NET BOOK VALUE

At 31 December 2024

4,293

8,440

12,733

At 31 December 2023

5,724

5,921

11,645

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

32,498

Additions

58

At 31 December 2024

32,556

NET BOOK VALUE

At 31 December 2024

32,556

At 31 December 2023

32,498

The company's investments at the Balance Sheet date in the share capital of companies include the following:

NRG marine General Trading LLC

Registered office: Block C1, Store 7, Business Park, ICAD 3, Mussafah South, Abu Dhabi, UAE

Nature of business: Supply of ultrasonic antifouling solutions

%

Class of shares:

holding

Ordinary

100.00

NRG Electronics PTE. LTD

Registered office: 111 Somerset Road 08-10A, 111 Somerset, Singapore, 238164, Singapore

Nature of business: Supply of ultrasonic antifouling solutions

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

383,030

176,036

Amounts owed by group undertakings

1,464,822

933,545

Other debtors

115,134

176,780

1,962,986

1,286,361

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

350,000

Aggregate amounts

1,962,986

1,636,361

7.

RESERVES

Capital

Retained

Share

redemption

Treasury

earnings

premium

reserve

shares

Totals

£

£

£

£

£

At 1 January 2024

815,191

249,748

79

(250,000

)

815,018

Deficit for the year

(178,982

)

(178,982

)

Purchase of own shares

-

-

(79

)

-

(79

)

Transfer of distributable reserves

250,000

-

-

-

250,000

At 31 December 2024

886,209

249,748

-

(250,000

)

885,957

8.

CREDITORS

2024

2023

£

£

Amounts falling due within one year:

Bank loans and overdrafts

50,000

50,000

Trade creditors

1,186,616

683,767

Taxation and social security

24,718

15,500

Other creditors

117,310

344,975

1,378,644

1,094,242

Amounts falling due after more than one year:

Bank loans

37,500

87,500

Aggregate amounts

1,416,144

1,181,742

9.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

48,545

48,973

Between one and five years

73,181

11,000

121,726

59,973

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Muhammed Shabbir (Senior Statutory Auditor)

for and on behalf of Armstrongs Accountancy Ltd

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

D A Rowlands

Balance outstanding at start of year

14,324

15,048

Amounts advanced

-

316

Amounts repaid

(13,573

)

(1,040

)

Amounts written off

(751

)

-

Amounts waived

-

-

Balance outstanding at end of year

-

14,324

Loans with amounts owed from the company to individuals have been left interest-free. Loans overdrawn with the company have had interest accrued on them at the base interest rate suggested by HMRC.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is parent company, Alfa Laval AB