Registration number: SC791869

Discovery Line Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Profit and Loss Account	4
Statement of Comprehensive Income	5
Balance Sheet	6
Statement of Changes in Equity	7
Notes to the Unaudited Financial Statements	8 to 10

Discovery Line Limited

Company Information

Director

Mr Peter David MacGregor

Registered office

Ardchoille Glenshellach Road Oban Argyll Scotland PA34 4PP

Accountants

Jack MacDonald & Co Cuan Aille 1 Aldersyde Taynuilt Argyll PA35 1AG

Discovery Line Limited

Director's Report for the Year Ended 31 December 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr Peter David MacGregor

Ms Louise Islay Brown (Resigned 7 November 2025)

Mr Rio Brown (Resigned 7 January 2026)

Mr David Bryce (Resigned 1 August 2025)

Principal activity

The principal activity of the company is sea and coastal passenger water transport

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 June 2026
 

......................................... Mr Peter David MacGregor Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Discovery Line Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Discovery Line Limited for the year ended 31 December 2025 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Discovery Line Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Discovery Line Limited and state those matters that we have agreed to state to the Board of Directors of Discovery Line Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Discovery Line Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Discovery Line Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Discovery Line Limited. You consider that Discovery Line Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Discovery Line Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

9 June 2026

Discovery Line Limited

Profit and Loss Account for the Year Ended 31 December 2025

	Note	2025 £	2024 £
Turnover		-	-
Gross profit/(loss)		-	-
Administrative expenses		(4,174)	(500)
Operating loss		(4,174)	(500)
Loss before tax		(4,174)	(500)
Loss for the financial year		(4,174)	(500)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Discovery Line Limited

Statement of Comprehensive Income for the Year Ended 31 December 2025

	2025 £	2024 £
Loss for the year	(4,174)	(500)
Total comprehensive income for the year	(4,174)	(500)

Discovery Line Limited

(Registration number: SC791869)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	3	57,750	-
Current assets
Debtors	4	322	-
Cash at bank and in hand		32,354	100
		32,676	100
Creditors: Amounts falling due within one year	5	(95,000)	(500)
Net current liabilities		(62,324)	(400)
Net liabilities		(4,574)	(400)
Capital and reserves
Called up share capital	6	100	100
Retained earnings		(4,674)	(500)
Shareholders' deficit		(4,574)	(400)

For the financial year ending 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 9 June 2026
 

......................................... Mr Peter David MacGregor Director

Discovery Line Limited

Statement of Changes in Equity for the Year Ended 31 December 2025

	Share capital £	Retained earnings £	Total £
At 1 January 2025	100	(500)	(400)
Loss for the year	-	(4,174)	(4,174)
At 31 December 2025	100	(4,674)	(4,574)

	Share capital £	Retained earnings £	Total £
Loss for the year	-	(500)	(500)
New share capital subscribed	100	-	100
At 31 December 2024	100	(500)	(400)

Discovery Line Limited

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

1	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.

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:

Asset class	Depreciation method and rate
Plant and machinery	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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Discovery Line Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 3).

Discovery Line Limited

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

3	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
Additions	57,750	57,750
At 31 December 2025	57,750	57,750
Depreciation
Carrying amount
At 31 December 2025	57,750	57,750

4

Debtors

Current	2025 £	2024 £
Other debtors	322	-
	322	-

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	-	500
Other creditors	95,000	-
	95,000	500

6	Share capital

Allotted, called up and fully paid shares

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