Neptune Marine Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC649636

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		19,878		24,362

			19,878		24,362
CURRENT ASSETS
Stock	5	220		-
Debtors	6	4,402		3,923
Cash at bank and in hand		1,029		20,057

		5,651		23,980
Creditors: Amounts Falling Due Within One Year	7	(43,100 )		(45,661 )

NET CURRENT ASSETS (LIABILITIES)			(37,449 )		(21,681 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(17,571 )		2,681

NET (LIABILITIES)/ASSETS			(17,571 )		2,681

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(17,572 )		2,680

SHAREHOLDERS' FUNDS			(17,571)		2,681

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Neptune Marine Services Ltd

Balance Sheet (continued)

As At 31 December 2024

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J K Borthwick

Director

30 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Neptune Marine Services Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC649636 . The registered office is Port Edgar Marina, Port Edgar, South Queensferry, EH30 9SQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At 31 December 2024, the company was in a net liabilities position. The director has confirmed that he will continue to support the business to meet its liabilities as they fall due for a period of 12 months from the date of signing.

2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% straight line
Motor Vehicles	20% straight line
Computer Equipment	50% straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 3)

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Neptune Marine Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	3,509	24,000	3,469	30,978
Additions	1,339	-	-	1,339

As at 31 December 2024	4,848	24,000	3,469	32,317

Depreciation
As at 1 January 2024	432	3,620	2,564	6,616
Provided during the period	1,132	4,076	615	5,823

As at 31 December 2024	1,564	7,696	3,179	12,439

Net Book Value
As at 31 December 2024	3,284	16,304	290	19,878

As at 1 January 2024	3,077	20,380	905	24,362

5. Stock

	2024	2023
	£	£
Stock	220	-

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,402	3,923

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	3,303	11,445
Other creditors	39,363	27,292
Taxation and social security	434	6,924

	43,100	45,661

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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Neptune Marine Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Related Party Transactions

At 31 December 2024 the company owed the director £39,363 (2023: £19,964).

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