REGISTERED NUMBER: SC657605 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

G WOOD SUBSEA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

5

DIRECTORS:

G S Wood

Mrs L A Wood

REGISTERED OFFICE:

73 Broomfield Park

Portlethen

Aberdeenshire

AB12 4XT

REGISTERED NUMBER:

SC657605 (Scotland)

ACCOUNTANTS:

Goldwells

Goldwells House

Grange Road

Peterhead

Aberdeenshire

AB42 1WN

FIXED ASSETS

Tangible assets

4

350

432

CURRENT ASSETS

Debtors

5

1,377

1,377

Cash at bank

65,711

79,192

67,088

80,569

CREDITORS

Amounts falling due within one year

6

22,457

29,145

NET CURRENT ASSETS

44,631

51,424

TOTAL ASSETS LESS CURRENT LIABILITIES

44,981

51,856

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

44,979

51,854

SHAREHOLDERS' FUNDS

44,981

51,856

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 18th December 2025 and were signed on its behalf by:

Mrs L A Wood - Director

1.	STATUTORY INFORMATION

G Wood Subsea Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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 balance sheet date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2024

and 31st March 2025

924

DEPRECIATION

At 1st April 2024

492

Charge for year

82

At 31st March 2025

574

NET BOOK VALUE

At 31st March 2025

350

At 31st March 2024

432

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,377

1,377

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Directors' current accounts

21,977

28,665

Accruals and deferred income

480

480

22,457

29,145

The Director's Loan is interest free and there is no fixed repayment terms.

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 G Wood Subsea Ltd for the year ended 31st March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of G Wood Subsea Ltd, 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 G Wood Subsea Ltd and state those matters that we have agreed to state to the Board of Directors of G Wood Subsea Ltd, as a body, in this report. 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 G Wood Subsea Ltd 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 loss of G Wood Subsea Ltd. You consider that G Wood Subsea Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G Wood Subsea Ltd. 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.

Goldwells

Goldwells House

Grange Road

Peterhead

Aberdeenshire

AB42 1WN

18th December 2025