| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| FOR |
| OWM HOLDCO LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| FOR |
| OWM HOLDCO LIMITED |
| OWM HOLDCO LIMITED (REGISTERED NUMBER: 15483920) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 5 |
| OWM HOLDCO LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 166 Buchanan Street |
| Glasgow |
| Lanarkshire |
| G1 2LW |
| OWM HOLDCO LIMITED (REGISTERED NUMBER: 15483920) |
| BALANCE SHEET |
| 28 FEBRUARY 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| OWM HOLDCO LIMITED (REGISTERED NUMBER: 15483920) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| 1. | STATUTORY INFORMATION |
| OWM Holdco Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the period 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 period 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 period was NIL. |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| OWM HOLDCO LIMITED (REGISTERED NUMBER: 15483920) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 12 FEBRUARY 2024 TO 28 FEBRUARY 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| A Ordinary | .01 | 88 |
| B Ordinary | .01 | 12 |
| 100 |
| The following fully paid shares were allotted during the period at a premium as shown below: |
| 8,800 A Ordinary shares of .01 each at 1872.39 per share |
| 1,200 B Ordinary shares of .01 each at 1872.39 per share |
| 8. | RELATED PARTY DISCLOSURES |
| Included in debtors is an amount of £1,926,558 owed by Normec Holding UK Limited, the 100% parent company of OWM Holdco Limited. This is in respect of a loan provided with interest charged at 3%. |
| Included in creditors is an amount of £1,910,000 owed to Offshore Water Management Ltd, which is a subsidiary of OWM Holdco Limited. This is in respect of a loan provided, with no interest charged. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| OWM HOLDCO LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of OWM Holdco Limited for the period ended 28 February 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts. |
| This report is made solely to the Board of Directors of OWM Holdco Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of OWM Holdco Limited and state those matters that we have agreed to state to the Board of Directors of OWM Holdco Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that OWM Holdco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of OWM Holdco Limited. You consider that OWM Holdco Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of OWM Holdco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 166 Buchanan Street |
| Glasgow |
| Lanarkshire |
| G1 2LW |