REGISTERED NUMBER: 13127426 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

WSW Marine Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S J Weatherley

Dr T S R Babbedge

REGISTERED OFFICE:

Unit E2 Newport Harbour

Town Quay

Newport

Isle of Wight

PO30 2EF

REGISTERED NUMBER:

13127426 (England and Wales)

ACCOUNTANTS:

Tropman & Co Limited

39 Station Road

Liphook

Hampshire

GU30 7DW

FIXED ASSETS

Intangible assets

4

249,740

114,358

Tangible assets

5

14,520

17,672

264,260

132,030

CURRENT ASSETS

Stocks

380,863

292,407

Debtors

6

42,537

7,602

Cash at bank

199,622

181,930

623,022

481,939

CREDITORS

Amounts falling due within one year

7

518,736

622,156

NET CURRENT ASSETS/(LIABILITIES)

104,286

(140,217

)

TOTAL ASSETS LESS CURRENT LIABILITIES

368,546

(8,187

)

CAPITAL AND RESERVES

Called up share capital

8

3

3

Share premium

817,245

464,998

Retained earnings

(448,702

)

(473,188

)

SHAREHOLDERS' FUNDS

368,546

(8,187

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 12 October 2025 and were signed on its behalf by:

Dr S J Weatherley - Director

1.	STATUTORY INFORMATION

WSW 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.

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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Design fees & costs is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant, machinery & tooling

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Design

fees &

costs

£

COST

At 1 February 2024

139,298

Additions

165,902

At 31 January 2025

305,200

AMORTISATION

At 1 February 2024

24,940

Amortisation for year

30,520

At 31 January 2025

55,460

NET BOOK VALUE

At 31 January 2025

249,740

At 31 January 2024

114,358

5.	TANGIBLE FIXED ASSETS

Plant,

machinery

Computer

& tooling

equipment

Totals

£

£

£

COST

At 1 February 2024

21,921

2,550

24,471

Additions

-

2,184

2,184

At 31 January 2025

21,921

4,734

26,655

DEPRECIATION

At 1 February 2024

5,514

1,285

6,799

Charge for year

4,152

1,184

5,336

At 31 January 2025

9,666

2,469

12,135

NET BOOK VALUE

At 31 January 2025

12,255

2,265

14,520

At 31 January 2024

16,407

1,265

17,672

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

32,814

-

Other debtors

9,723

7,602

42,537

7,602

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

171,050

-

Other creditors

347,686

622,156

518,736

622,156

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

30,267,520

Ordinary

.000001

3

3

1,667,520 Ordinary shares of .000001 each were allotted as fully paid at a premium of .21124 per share during the year.

9.	RELATED PARTY DISCLOSURES

The directors of the company, Dr. S Weatherley and Dr T Babbedge, are also directors of Arctic Archipelago Ltd. During the year the company issued sales invoices Arctic Archipelago Ltd in respect of rental charges. The amount owed to the company at year end was £7,200. This amount is included in the accounts under other debtors.