Registration number: NI609510

McCollam Marine Ltd

(Registration number: NI609510)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	62,872	31,590
Current assets
Debtors	5	5,505	13,465
Cash at bank and in hand		20,881	27,813
		26,386	41,278
Creditors: Amounts falling due within one year	6	(50,036)	(44,225)
Net current liabilities		(23,650)	(2,947)
Total assets less current liabilities		39,222	28,643
Creditors: Amounts falling due after more than one year	6	(9,277)	(17,283)
Net assets		29,945	11,360
Capital and reserves
Called up share capital	7	100	100
Retained earnings		29,845	11,260
Shareholders' funds		29,945	11,360

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 July 2026
 

......................................... Mr J F McCollam Director

McCollam Marine Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 9 Dalriada Drive, Cushendall, Ballymena, County Antrim,
BT44 0QF.

These financial statements were authorised for issue by the director on 30 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts chargeable in respect of the supply of services to customers.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

McCollam Marine Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Asset class	Depreciation method and rate
Tools and equipment	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

McCollam Marine Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4	Tangible assets

	Motor vehicles  £	Tools and equipment £	Total £
Cost or valuation
At 1 November 2024	35,685	27,786	63,471
Additions	-	47,000	47,000
At 31 October 2025	35,685	74,786	110,471
Depreciation
At 1 November 2024	10,977	20,904	31,881
Charge for the year	4,942	10,776	15,718
At 31 October 2025	15,919	31,680	47,599
Carrying amount
At 31 October 2025	19,766	43,106	62,872
At 31 October 2024	24,708	6,882	31,590

5

Debtors

Current	2025 £	2024 £
Trade debtors	5,505	13,465
	5,505	13,465

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	8,005	9,396
Taxation and social security		29,369	17,955
Accruals and deferred income		3,684	3,960
Other creditors		8,978	12,914
		50,036	44,225

McCollam Marine Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	9,277	17,283

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	8,005	9,396

9	Related party transactions

The following balance was owed (to)/from the director at the year end:

	2025  £	2024  £
Directors current account	(2,333)	(6,269)