Salvage Operations Limited

	Page
Abridged Statement of Financial Position	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: SC816416

		31 July 2025
	Notes	£	£
FIXED ASSETS
Intangible Assets	4		24,000
Tangible Assets	5		20,041

			44,041
CURRENT ASSETS
Debtors		29,518
Cash at bank and in hand		26,480

		55,998
Creditors: Amounts Falling Due Within One Year		(50,630 )

NET CURRENT ASSETS (LIABILITIES)			5,368

TOTAL ASSETS LESS CURRENT LIABILITIES			49,409

Creditors: Amounts Falling Due After More Than One Year			(49,310 )

NET ASSETS			99

CAPITAL AND RESERVES
Called up share capital	7		37
Income Statement			62

SHAREHOLDERS' FUNDS			99

Page 1

Page 2

Salvage Operations Limited

Abridged Statement of Financial Position (continued)

As At 31 July 2025

For the period ending 31 July 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 directors acknowledge their 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 Income Statement.

All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 July 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Euan Martyn

Director

19th December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Salvage Operations Limited is a private company, limited by shares, incorporated in Scotland, registered number SC816416 . The registered office is 39 Aitchison Place, Falkirk, FK1 5AY.

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. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the income statement over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Computer Equipment	33% Straight line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

Page 3

Page 4

Salvage Operations Limited

Notes to the Abridged Financial Statements (continued)

For the Period 15 July 2024 to 31 July 2025

2.6. Financial Instruments

All financial assets and liabilities are measured at fair value. The fair value of an asset or liability at the year-end is the amount for which it could be exchanged or settled, on that date between two knowledgeable, willing parties in an arm's length transaction under market conditions.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 4

4. Intangible Assets

	Total
	£
Cost
As at 15 July 2024	-
Additions	30,000

As at 31 July 2025	30,000

Amortisation
As at 15 July 2024	-
Provided during the period	6,000

As at 31 July 2025	6,000

Net Book Value
As at 31 July 2025	24,000

As at 15 July 2024	-

5. Tangible Assets

	Total
	£
Cost
As at 15 July 2024	-
Additions	26,771

As at 31 July 2025	26,771

Depreciation
As at 15 July 2024	-
Provided during the period	6,730

As at 31 July 2025	6,730

Net Book Value
As at 31 July 2025	20,041

As at 15 July 2024	-

Page 4

Page 5

Salvage Operations Limited

Notes to the Abridged Financial Statements (continued)

For the Period 15 July 2024 to 31 July 2025

6. Obligations Under Finance Leases and Hire Purchase

	31 July 2025
	£
The future minimum finance lease payments are as follows:
Not later than one year	6,374
Later than one year and not later than five years	14,310

	20,684

	20,684

7. Share Capital

	31 July 2025
	£
Allotted, Called up and fully paid	37

Page 5