IRIS Accounts Production v26.1.10.61 SC059993 Board of Directors 1.6.25 31.12.25 31.12.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC059993 2025-05-31 SC059993 2025-12-31 SC059993 2025-06-01 2025-12-31 SC059993 2024-05-31 SC059993 2024-06-01 2025-05-31 SC059993 2025-05-31 SC059993 ns15:Scotland 2025-06-01 2025-12-31 SC059993 ns14:PoundSterling 2025-06-01 2025-12-31 SC059993 ns10:Director1 2025-06-01 2025-12-31 SC059993 ns10:PrivateLimitedCompanyLtd 2025-06-01 2025-12-31 SC059993 ns10:SmallEntities 2025-06-01 2025-12-31 SC059993 ns10:AuditExempt-NoAccountantsReport 2025-06-01 2025-12-31 SC059993 ns10:SmallCompaniesRegimeForDirectorsReport 2025-06-01 2025-12-31 SC059993 ns10:SmallCompaniesRegimeForAccounts 2025-06-01 2025-12-31 SC059993 ns10:AbridgedAccounts 2025-06-01 2025-12-31 SC059993 ns10:Director2 2025-06-01 2025-12-31 SC059993 ns10:RegisteredOffice 2025-06-01 2025-12-31 SC059993 ns5:CurrentFinancialInstruments 2025-12-31 SC059993 ns5:CurrentFinancialInstruments 2025-05-31 SC059993 ns5:Non-currentFinancialInstruments 2025-12-31 SC059993 ns5:Non-currentFinancialInstruments 2025-05-31 SC059993 ns5:ShareCapital 2025-12-31 SC059993 ns5:ShareCapital 2025-05-31 SC059993 ns5:CapitalRedemptionReserve 2025-12-31 SC059993 ns5:CapitalRedemptionReserve 2025-05-31 SC059993 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 SC059993 ns5:RetainedEarningsAccumulatedLosses 2025-05-31 SC059993 ns5:PlantMachinery 2025-06-01 2025-12-31 SC059993 ns5:MotorVehicles 2025-06-01 2025-12-31 SC059993 ns5:ComputerEquipment 2025-06-01 2025-12-31 SC059993 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-12-31 SC059993 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-05-31 SC059993 ns5:WithinOneYear 2025-12-31 SC059993 ns5:WithinOneYear 2025-05-31 SC059993 ns5:BetweenOneFiveYears 2025-12-31 SC059993 ns5:BetweenOneFiveYears 2025-05-31 SC059993 ns5:AllPeriods 2025-12-31 SC059993 ns5:AllPeriods 2025-05-31

REGISTERED NUMBER: SC059993 (Scotland)

Financial Statements For The Period 1 June 2025 to 31 December 2025

for

North Sea Plastics Limited

| North Sea Plastics Limited (Registered number: SC059993) |

Contents of the Financial Statements

For The Period 1 June 2025 to 31 December 2025

Page |

| Company Information | 1 |

| Abridged Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| North Sea Plastics Limited |

Company Information

For The Period 1 June 2025 to 31 December 2025

| DIRECTORS: | D M Tullis

| G Q Monje

| REGISTERED OFFICE: | Unit 2

| 5 Campsie Road

| Kirkintilloch

| G66 1SL

| REGISTERED NUMBER: | SC059993 (Scotland)

| ACCOUNTANTS: | Robb Ferguson Chartered Accountants

| Regent Court

| 70 West Regent Street

| Glasgow

| G2 2QZ

| North Sea Plastics Limited (Registered number: SC059993) |

Abridged Statement of Financial Position

31 December 2025

| 2025 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 9,833 |  | 41,739 |  |

CURRENT ASSETS

Stocks | 324,773 |  | 306,740 |  |

Debtors | 277,015 |  | 445,392 |  |

Cash at bank and in hand | 819,957 |  | 664,701 |  |

1,421,745 |  | 1,416,833 |  |

CREDITORS

Amounts falling due within one year | 389,663 |  | 486,346 |  |

NET CURRENT ASSETS | 1,032,082 |  | 930,487 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,041,915 |  | 972,226 |  |

CREDITORS

Amounts falling due after more than one year | - |  | (5,000 | ) |

PROVISIONS FOR LIABILITIES | (2,458 | ) | (10,052 | ) |

NET ASSETS | 1,039,457 |  | 957,174 |  |

CAPITAL AND RESERVES

Called up share capital | 750 |  | 750 |  |

Capital redemption reserve | 750 |  | 750 |  |

Retained earnings | 1,037,957 |  | 955,674 |  |

SHAREHOLDERS' FUNDS | 1,039,457 |  | 957,174 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| North Sea Plastics Limited (Registered number: SC059993) |

Abridged Statement of Financial Position - continued

31 December 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the period ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2026 and were signed on its behalf by:

D M Tullis - Director

| North Sea Plastics Limited (Registered number: SC059993) |

Notes to the Financial Statements

For The Period 1 June 2025 to 31 December 2025

1. | STATUTORY INFORMATION

| North Sea Plastics Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents net invoiced sales of goods, excluding value added tax. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant & machinery | - | 50% on cost, 33.33% on cost and 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| 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 statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

| North Sea Plastics Limited (Registered number: SC059993) |

Notes to the Financial Statements - continued

For The Period 1 June 2025 to 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of comprehensive income in the period to which they relate.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 8 (2025 - 10 ) .

| North Sea Plastics Limited (Registered number: SC059993) |

Notes to the Financial Statements - continued

For The Period 1 June 2025 to 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 June 2025 | 300,321 |  |

| Disposals | (74,742 | ) |

| At 31 December 2025 | 225,579 |  |

| DEPRECIATION

| At 1 June 2025 | 258,582 |  |

| Charge for period | 4,106 |  |

| Eliminated on disposal | (46,942 | ) |

| At 31 December 2025 | 215,746 |  |

| NET BOOK VALUE

| At 31 December 2025 | 9,833 |  |

| At 31 May 2025 | 41,739 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Totals

£ |

| COST

| At 1 June 2025 | 66,590 |  |

| Disposals | (66,590 | ) |

| At 31 December 2025 | - |  |

| DEPRECIATION

| At 1 June 2025 | 36,937 |  |

| Charge for period | 1,853 |  |

| Eliminated on disposal | (38,790 | ) |

| At 31 December 2025 | - |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 May 2025 | 29,653 |  |

5. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2025 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 31,931 |  |

| North Sea Plastics Limited (Registered number: SC059993) |

Notes to the Financial Statements - continued

For The Period 1 June 2025 to 31 December 2025

5. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

2025 | 2025 |

£ | £ |

| Within one year | 43,769 |  | 40,502 |  |

| Between one and five years | 125,000 |  | 148,333 |  |

168,769 |  | 188,835 |  |

6. | SECURED DEBTS

| The National Westminster Bank Plc hold a floating charge over the undertaking, assets and rights owned now or in the future of the company.

7. | ULTIMATE CONTROLLING PARTY

| The company is under the control of Gabriel Quero Monje by virtue of shareholdings in Tectrain Soluciones Técnicas, S.L., a company registered in Spain which in turn controls Agruquero Thermoplastics, S.L., the North Sea Plastics Limited immediate parent.