Company Registration No. SC422462 (Scotland)
Cavitas Energy Ltd
Unaudited accounts
for the year ended 31 March 2025
Cavitas Energy Ltd
Unaudited accounts
Contents
Cavitas Energy Ltd
Company Information
for the year ended 31 March 2025
Director
Graeme William McNay
Secretary
Burnett & Reid LLP
Company Number
SC422462 (Scotland)
Registered Office
Suite A, Ground Floor
9 Queens Road
Aberdeen
AB15 4YL
Accountants
Granite Accountants (Aberdeen) Limited
2 Queens Road
Aberdeen
AB15 4ZT
Cavitas Energy Ltd
Statement of financial position
as at 31 March 2025
Intangible assets
21,275
28,622
Tangible assets
547,867
225,425
Inventories
19,699
239,849
Cash at bank and in hand
4,181
3,257
Creditors: amounts falling due within one year
(3,118,366)
(1,954,785)
Net current liabilities
(2,983,984)
(1,630,170)
Net liabilities
(2,414,842)
(1,376,123)
Called up share capital
1,226
1,226
Share premium
558,381
558,381
Profit and loss account
(2,974,449)
(1,935,730)
Shareholders' funds
(2,414,842)
(1,376,123)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 December 2025 and were signed on its behalf by
Graeme William McNay
Director
Company Registration No. SC422462
Cavitas Energy Ltd
Notes to the Accounts
for the year ended 31 March 2025
Cavitas Energy Ltd is a private company, limited by shares, registered in Scotland, registration number SC422462. The registered office is Suite A, Ground Floor, 9 Queens Road, Aberdeen, AB15 4YL.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The financial statements have been prepared on the going concern basis, which assumes that the company will continue to trade. This assumption is based upon assurances received from the parent company that it is their intention to provide such assistance as is required to enable the company to meet its financial commitments. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amount and to provide for any further liabilities that might arise.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line, 25% reducing balance & 33.3% straight line
Computer equipment
33% straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Cavitas Energy Ltd
Notes to the Accounts
for the year ended 31 March 2025
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Other
Charge for the year
17,413
Cavitas Energy Ltd
Notes to the Accounts
for the year ended 31 March 2025
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Tangible fixed assets
Plant & machinery
Charge for the year
135,360
Amounts falling due within one year
Trade debtors
59,310
37,748
Accrued income and prepayments
20,385
6,190
Other debtors
28,529
26,812
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Creditors: amounts falling due within one year
2025
2024
Trade creditors
68,276
26,430
Amounts owed to group undertakings and other participating interests
3,082,075
1,919,123
Taxes and social security
(42,464)
6,736
Polymer N2 Limited, a group undertaking, is entitled to a floating charge over the whole of the property and undertaking of the company.
Polymer N4 Limited, a group undertaking, is entitled to a floating charge over the whole of the property and undertaking of the company.
Cavitas Energy Ltd
Notes to the Accounts
for the year ended 31 March 2025
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Transactions with related parties
The company had an outstanding loan payable in the name of Valor Energy Group Limited, its parent company, of £1,929,472 (2024: £1,203,540) at the year end. This is included in amounts owed to group undertakings and other participating interests. This loan is interest free and repayable on demand.
The company had an outstanding loan payable in the name of AISUS Offshore Limited, a group undertaking, of £1,152,603 (2024: £715,188) at the year end. This is included in amounts owed to group undertakings and other participating interests. This loan is interest free and repayable on demand.
The company is controlled by Valor Energy Group Limited, a private company, limited by shares, registered in Scotland, registration number SC574375. The registered office is Suite A, Ground Floor, 9 Queens Road, Aberdeen, AB15 4YL. The principal place of business is Unit 21 Denmore Industrial Estate, Denmore Road, Bridge of Don, Aberdeen, AB23 8JW.
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Average number of employees
During the year the average number of employees was 5 (2024: 4).