REGISTERED NUMBER: 09818200 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

North Sea Process Solutions Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J S Carney

D M Carney

REGISTERED OFFICE:

15 The Cedars

Sunderland

SR2 7TW

REGISTERED NUMBER:

09818200 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Tangible assets

4

173

19,413

CURRENT ASSETS

Debtors

5

22,737

68,308

Cash at bank

84,540

30,547

107,277

98,855

CREDITORS

Amounts falling due within one year

6

36,780

18,561

NET CURRENT ASSETS

70,497

80,294

TOTAL ASSETS LESS CURRENT LIABILITIES

70,670

99,707

PROVISIONS FOR LIABILITIES

39

3,688

NET ASSETS

70,631

96,019

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

70,531

95,919

SHAREHOLDERS' FUNDS

70,631

96,019

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2025 and were signed on its behalf by:

J S Carney - Director

1.	STATUTORY INFORMATION

North Sea Process Solutions Limited 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover

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

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

41,080

Disposals

(38,750

)

At 31 March 2025

2,330

DEPRECIATION

At 1 April 2024

21,667

Charge for year

4,930

Eliminated on disposal

(24,440

)

At 31 March 2025

2,157

NET BOOK VALUE

At 31 March 2025

173

At 31 March 2024

19,413

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,226

54,329

Other debtors

511

13,979

22,737

68,308

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

30,089

15,106

Other creditors

6,691

3,455

36,780

18,561

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

J S Carney and D M Carney

Balance outstanding at start of year

13,507

(122

)

Amounts advanced

82,231

13,629

Amounts repaid

(99,899

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,161

)

13,507