Ocean Vertical Scotland Limited

Registered number

SC631318

Filleted Accounts

31 May 2025

Ocean Vertical Scotland Limited
Registered number:		SC631318
Balance Sheet
as at 31 May 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		18,641			23,805

Current assets
Debtors	4	-			1,125
Cash at bank and in hand		33,299			18,624
		33,299			19,749

Creditors: amounts falling due within one year	5	(21,543)			(24,498)

Net current assets/(liabilities)			11,756			(4,749)

Total assets less current liabilities			30,397			19,056

Creditors: amounts falling due after more than one year	6		(24,655)			(5,196)



Net assets			5,742			13,860

Capital and reserves
Called up share capital			127			127
Share premium			99,973			99,973
Profit and loss account			(94,358)			(86,240)

Shareholders' funds			5,742			13,860

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.




M Hughes
Director
Approved by the board on 29 October 2025

Ocean Vertical Scotland Limited
Notes to the Accounts
for the year ended 31 May 2025


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).

	Going Concern Disclosure
	The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	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 evenly over its expected useful life, as follows:

	Fixture & Fittings			25% Reducing Balance Method
	Office/Computer Equipment			25% Straight Line Method
	Motor vehicles			25% Straight Line Method

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					4		4

3	Tangible fixed assets
		Fixture & Fittings		Office / Computer Equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 June 2024	9,881		42,377		30,261		82,519
	Additions	-		-		9,958		9,958
	Disposals	-		-		(12,262)		(12,262)
	At 31 May 2025	9,881		42,377		27,957		80,215

	Depreciation
	At 1 June 2024	9,572		24,505		24,637		58,714
	Charge for the year	77		10,130		4,915		15,122
	On disposals	-		-		(12,262)		(12,262)
	At 31 May 2025	9,649		34,635		17,290		61,574

	Net book value
	At 31 May 2025	232		7,742		10,667		18,641
	At 31 May 2024	309		17,872		5,624		23,805

4	Debtors					2025		2024
£							£

	Trade debtors					-		1,125

5	Creditors: amounts falling due within one year					2025		2024
£							£

	Director loan account					10,065		8,565
	Taxation and social security costs					9,538		10,285
	Accruals					1,820		2,000
	Other creditors					120		3,648
						21,543		24,498

6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					24,655		5,196

7	Other information

	Ocean Vertical Scotland Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:

	25 Duke Street
	Dunbar
	East Lothian
	Scotland
	EH42 1NT