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Registered number: SC598073
MCS Subsea Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
MCS Subsea Solutions Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
MCS Subsea Solutions Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: SC598073

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 12,056 |  | 10,745
Tangible Assets | 5 |  | 5,332 |  | 1,972
Investments | 6 |  | 1 |  | 1
|  |  | 17,389 |  | 12,718
CURRENT ASSETS
Debtors | 7 | 77,887 |  | 143,104 |
Cash at bank and in hand |  | 9,595 |  | 11,728 |
|  | 87,482 |  | 154,832 |
Creditors: Amounts Falling Due Within One Year | 8 | (1,299,759 ) |  | (1,103,490 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (1,212,277 ) |  | (948,658 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (1,194,888 ) |  | (935,940 )
NET LIABILITIES |  |  | (1,194,888 ) |  | (935,940 )
CAPITAL AND RESERVES
Called up share capital | 9 |  | 1 |  | 1
Profit and Loss Account |  |  | (1,194,889 ) |  | (935,941 )
SHAREHOLDERS' FUNDS |  |  | (1,194,888) |  | (935,940)

Page 1
Page 2
MCS Subsea Solutions Limited
Balance Sheet (continued)
As At 31 December 2025
For the 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.
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 Profit and Loss Account.
On behalf of the board

W A Bakr Director
27th July 2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
MCS Subsea Solutions Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
MCS Subsea Solutions Limited is a private company, limited by shares, incorporated in Scotland, registered number SC598073 . The registered office is 28 Albyn Place, Aberdeen, AB10 1YL.
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. Going Concern Disclosure
These accounts have been prepared on the going concern basis, on the understanding that the directors and
shareholders will continue to financially support the company.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less
any accumulated amortisation and any accumulated impairment costs.
Patents and licences are not being amortised and have a useful life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 | 33% on cost
Fixtures & Fittings | 20% on cost
Computer Equipment | 33% on cost

2.6. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.
Page 3
Page 4
MCS Subsea Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme
are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the period was 2 (2024: 3)
2 3
4. Intangible Assets

| Patents & licences
--- | ---
| £
Cost
As at 1 January 2025 | 10,745
Additions | 1,311
As at 31 December 2025 | 12,056
Net Book Value
As at 31 December 2025 | 12,056
As at 1 January 2025 | 10,745

5. Tangible Assets

| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 January 2025 | 97,256 | - | 8,157 | 105,413
Additions | - | 5,924 | - | 5,924
As at 31 December 2025 | 97,256 | 5,924 | 8,157 | 111,337
Depreciation
As at 1 January 2025 | 95,722 | - | 7,719 | 103,441
Provided during the period | 1,534 | 592 | 438 | 2,564
As at 31 December 2025 | 97,256 | 592 | 8,157 | 106,005
Net Book Value
As at 31 December 2025 | - | 5,332 | - | 5,332
As at 1 January 2025 | 1,534 | - | 438 | 1,972

Page 4
Page 5
MCS Subsea Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Investments

| Unlisted
--- | ---
| £
Cost or Valuation
As at 1 January 2025 | 1
As at 31 December 2025 | 1
Provision
As at 1 January 2025 | -
As at 31 December 2025 | -
Net Book Value
As at 31 December 2025 | 1
As at 1 January 2025 | 1

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | - |  | 101,716
Amounts owed by group undertakings | 25,734 |  | 25,735
Other debtors | 52,153 |  | 15,653
| 77,887 |  | 143,104

8. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 2,565 |  | 15,205
Other loans | 1,288,335 |  | 1,079,225
Other creditors | 6,108 |  | 8,960
Taxation and social security | 2,751 |  | 100
| 1,299,759 |  | 1,103,490

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1 |  | 1

10. Ultimate Controlling Party
The ultimate controlling party is Mr W A I Bakr, by virtue of his shareholding in the parent company.
The immediate parent company is Deep Tech for Oil Services, a company incorporated in Egypt.
Page 5