Safe Marine Operations Ltd

	Page
Balance Sheet	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3—4

Registered number: SC809314

		31 May 2025
	Notes	£	£
CURRENT ASSETS
Cash at bank and in hand		5,550

		5,550
Creditors: Amounts Falling Due Within One Year	4	(1,937 )

NET CURRENT ASSETS (LIABILITIES)			3,613

TOTAL ASSETS LESS CURRENT LIABILITIES			3,613

NET ASSETS			3,613

CAPITAL AND RESERVES
Called up share capital			2
Profit and Loss Account			3,611

SHAREHOLDERS' FUNDS			3,613

For the period ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr B Beattie

Director

23 December 2025

The notes on pages 3 to 4 form part of these financial statements.

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 2 May 2024	2	-	2
Profit for the period and total comprehensive income	-	3,611	3,611

As at 31 May 2025	2	3,611	3,613

1. General Information

Safe Marine Operations Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC809314 . The registered office is 14 Bishop Forbes Crescent, Blackburn, Aberdeen, AB21 0TW.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The director has ceased trading during the year and intends to strike off the company following the filing of these accounts.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

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Safe Marine Operations Ltd

Notes to the Financial Statements (continued)

For the Period 2 May 2024 to 31 May 2025

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Creditors: Amounts Falling Due Within One Year

	31 May 2025
	£
Corporation tax	847
Accruals and deferred income	780
Director's loan account	310

	1,937

5. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 2 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 May 2025
	£	£	£	£	£
Mr Brian Beattie	-	2	(312 )	-	(310 )

The above loan is interest free and has no fixed repayment terms.

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