Silverfin false false 31/07/2025 01/08/2024 31/07/2025 Graham John Davidson 02/08/2021 Henry John Lints 19/07/2021 Walter Clark Robertson 17/09/2021 Craig Ronald Smith 19/07/2021 27 January 2026 The company provides both onshore and offshore decommissioning support services to the oil and gas industry, utilising its licensed quayside facilities throughout the North East of Scotland and Shetland.
Although specialising in the project management, decontamination, and disposal of NORM (Naturally Occurring Radioactive Material) attaching to oilfield equipment, the company also provides DGSA services, Radiological Protection Supervision (RPS) services, hazardous and non-hazardous waste management services. SC704425 2025-07-31 SC704425 bus:Director1 2025-07-31 SC704425 bus:Director2 2025-07-31 SC704425 bus:Director3 2025-07-31 SC704425 bus:Director4 2025-07-31 SC704425 2024-07-31 SC704425 core:CurrentFinancialInstruments 2025-07-31 SC704425 core:CurrentFinancialInstruments 2024-07-31 SC704425 core:Non-currentFinancialInstruments 2025-07-31 SC704425 core:Non-currentFinancialInstruments 2024-07-31 SC704425 core:ShareCapital 2025-07-31 SC704425 core:ShareCapital 2024-07-31 SC704425 core:SharePremium 2025-07-31 SC704425 core:SharePremium 2024-07-31 SC704425 core:RetainedEarningsAccumulatedLosses 2025-07-31 SC704425 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC704425 core:LandBuildings 2024-07-31 SC704425 core:OtherPropertyPlantEquipment 2024-07-31 SC704425 core:LandBuildings 2025-07-31 SC704425 core:OtherPropertyPlantEquipment 2025-07-31 SC704425 2023-07-31 SC704425 bus:OrdinaryShareClass1 2025-07-31 SC704425 bus:OrdinaryShareClass2 2025-07-31 SC704425 2024-08-01 2025-07-31 SC704425 bus:FilletedAccounts 2024-08-01 2025-07-31 SC704425 bus:SmallEntities 2024-08-01 2025-07-31 SC704425 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-07-31 SC704425 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 SC704425 bus:Director1 2024-08-01 2025-07-31 SC704425 bus:Director2 2024-08-01 2025-07-31 SC704425 bus:Director3 2024-08-01 2025-07-31 SC704425 bus:Director4 2024-08-01 2025-07-31 SC704425 core:OtherPropertyPlantEquipment core:BottomRangeValue 2024-08-01 2025-07-31 SC704425 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-08-01 2025-07-31 SC704425 2023-08-01 2024-07-31 SC704425 core:LandBuildings 2024-08-01 2025-07-31 SC704425 core:OtherPropertyPlantEquipment 2024-08-01 2025-07-31 SC704425 core:CurrentFinancialInstruments 2024-08-01 2025-07-31 SC704425 core:Non-currentFinancialInstruments 2024-08-01 2025-07-31 SC704425 bus:OrdinaryShareClass1 2024-08-01 2025-07-31 SC704425 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC704425 bus:OrdinaryShareClass2 2024-08-01 2025-07-31 SC704425 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC704425 (Scotland)

# PHOENIX DECOM LTD

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH THE REGISTRAR

PHOENIX DECOM LTD

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

Contents

PHOENIX DECOM LTD

## BALANCE SHEET

AS AT 31 JULY 2025
PHOENIX DECOM LTD

## BALANCE SHEET (continued)

AS AT 31 JULY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,558,243 |  | 1,501,863
|  | 1,558,243 |  | 1,501,863
Current assets |  |  |  |
Debtors | 4 | 455,280 |  | 807,885
Cash at bank and in hand |  | 1,918,979 |  | 2,509,184
|  | 2,374,259 |  | 3,317,069
Creditors: amounts falling due within one year | 5 | ( 389,737) |  | ( 620,861)
Net current assets |  | 1,984,522 |  | 2,696,208
Total assets less current liabilities |  | 3,542,765 |  | 4,198,071
Creditors: amounts falling due after more than one year | 6 | ( 521,915) |  | ( 712,723)
Provision for liabilities | 7 | ( 355,036) |  | ( 373,673)
Net assets |  | 2,665,814 |  | 3,111,675
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1,000 |  | 1,000
Share premium account |  | 159,050 |  | 159,050
Profit and loss account |  | 2,505,764 |  | 2,951,625
Total shareholders' funds |  | 2,665,814 |  | 3,111,675

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Phoenix Decom Ltd (registered number: SC704425) were approved and authorised for issue by the Board of Directors on 27 January 2026. They were signed on its behalf by:

Henry John Lints Director |

PHOENIX DECOM LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
PHOENIX DECOM LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Phoenix Decom Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit G5 Enterprise Centre, Aberdeen Energy Park, Exploration Drive, Bridge Of Don, Aberdeen, AB23 8GX, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery etc. | 6 - 12 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets with original maturities of three months or less.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

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

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 11 |  | 11

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 August 2024 | 10,051 |  | 1,668,101 |  | 1,678,152
Additions | 9,389 |  | 229,804 |  | 239,193
Disposals | 0 |  | ( 27,750) |  | ( 27,750)
At 31 July 2025 | 19,440 |  | 1,870,155 |  | 1,889,595
Accumulated depreciation |  |  |  |  |
At 01 August 2024 | 0 |  | 176,289 |  | 176,289
Charge for the financial year | 0 |  | 167,088 |  | 167,088
Disposals | 0 |  | ( 12,025) |  | ( 12,025)
At 31 July 2025 | 0 |  | 331,352 |  | 331,352
Net book value |  |  |  |  |
At 31 July 2025 | 19,440 |  | 1,538,803 |  | 1,558,243
At 31 July 2024 | 10,051 |  | 1,491,812 |  | 1,501,863

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 286,134 |  | 775,662
Corporation tax | 114,872 |  | 0
Other debtors | 54,274 |  | 32,223
| 455,280 |  | 807,885

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 15,102
Trade creditors | 68,334 |  | 228,114
Corporation tax | 0 |  | 56,554
Other taxation and social security | 87,458 |  | 127,492
Obligations under finance leases and hire purchase contracts | 184,174 |  | 175,897
Other creditors | 49,771 |  | 17,702
| 389,737 |  | 620,861

Obligations under hire purchase leases are secured over the assets to which they relate.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 521,915 |  | 712,723

Obligations under hire purchase leases are secured over the assets to which they relate.

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 373,673) |  | ( 154,426)
Credited/(charged) to the Statement of Income and Retained Earnings | 18,637 |  | ( 219,247)
At the end of financial year | ( 355,036) |  | ( 373,673)

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
95,000 Ordinary shares of £ 0.01 each | 950 |  | 950
Allotted, called-up and not yet paid |  |  |
5,000 Ordinary (unpaid) shares of £ 0.01 each | 50 |  | 50

#### 9. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 776,293 |  | 881,293

#### 10. Related party transactions

Transactions with owners holding a participating interest in the entity

| 2025 |  | 2024
| £ |  | £
Dividends paid | 200,000 |  | 200,000

#### 11. Events after the Balance Sheet date

Post year end the company declared and paid a final dividend of £200,000 to the shareholders.