Company Registration No. SC426689 (Scotland)
AISUS Offshore Limited
Unaudited accounts
for the year ended 31 March 2025
AISUS Offshore Limited
Unaudited accounts
Contents
AISUS Offshore Limited
Company Information
for the year ended 31 March 2025
Director
Graeme William McNay
Secretary
Burnett & Reid LLP
Company Number
SC426689 (Scotland)
Registered Office
Suite A
1 Albyn Place
Aberdeen
Aberdeenshire
AB10 1BR
Scotland
Accountants
Granite Accountants (Aberdeen) Limited
2 Queens Road
Aberdeen
AB15 4ZT
AISUS Offshore Limited
Statement of financial position
as at 31 March 2025
Intangible assets
70,817
73,298
Tangible assets
731,044
837,220
Inventories
29,239
114,686
Debtors
4,974,940
3,453,168
Cash at bank and in hand
15,585
356,602
Creditors: amounts falling due within one year
(340,814)
(311,148)
Net current assets
4,678,950
3,613,308
Total assets less current liabilities
5,480,811
4,523,826
Creditors: amounts falling due after more than one year
(69,540)
(97,327)
Provisions for liabilities
Deferred tax
(175,941)
(200,538)
Net assets
5,235,330
4,225,961
Called up share capital
92
92
Capital redemption reserve
8
8
Profit and loss account
5,235,230
4,225,861
Shareholders' funds
5,235,330
4,225,961
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. SC426689
AISUS Offshore Limited
Notes to the Accounts
for the year ended 31 March 2025
AISUS Offshore Limited is a private company, limited by shares, registered in Scotland, registration number SC426689. The registered office is Suite A, 1 Albyn Place, Aberdeen, Aberdeenshire, AB10 1BR, Scotland.
2
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
3 or 4 years straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
AISUS Offshore Limited
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.
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.
4
Intangible fixed assets
Other
AISUS Offshore Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery
At 31 March 2025
2,485,048
Charge for the year
355,517
At 31 March 2025
1,754,004
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
172,645
119,016
Amounts falling due within one year
Trade debtors
989,436
791,664
Amounts due from group undertakings etc.
3,422,491
2,201,479
Accrued income and prepayments
501,329
405,404
Other debtors
40,967
7,822
AISUS Offshore Limited
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
54,122
62,500
Obligations under finance leases and hire purchase contracts
61,028
77,942
Trade creditors
133,179
137,941
Taxes and social security
(2,932)
(10,509)
Other creditors
15,601
10,864
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.
Bank of Scotland PLC is entitled to a floating charge over the whole of the property and undertaking of the company.
Lloyds Bank Commercial Finance Ltd is entitled to a floating charge over the whole of the property and undertaking of the company.
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
69,540
43,205
9
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
90,000
90,000
Later than one year and not later than five years
300,000
390,000
10
Transactions with related parties
The company had an outstanding loan receivable in the name of Valor Energy Group Limited, its parent company, of £2,269,888 (2024: £1,486,281) at the year end. This is included in amounts owed from group undertakings and other participating interests. This loan is interest free and repayable on demand.
The company had an outstanding loan receivable in the name of Cavitas Energy Limited, a group undertaking, of £1,152,603 (2023: £715,188) at the year end. This is included in amounts owed from group undertakings and other participating interests. This loan is interest free and repayable on demand.
AISUS Offshore Limited
Notes to the Accounts
for the year ended 31 March 2025
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, 1 Albyn Place, Aberdeen, AB10 1BR. 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 34 (2024: 31).