BK Marine Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC303508 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2026

for

BK Marine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M I T Williamson

J G Williamson

D G F Ross

SECRETARY:

Mrs M I T Williamson

REGISTERED OFFICE:

Unit 6

Toll Clock Shopping Centre

26 North Road

Lerwick

Shetland

ZE1 0PE

REGISTERED NUMBER:

SC303508 (Scotland)

ACCOUNTANTS:

Mackay Johnson Ltd

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

4

189,875

1,036,500

Investments

5

1,270,178

-

1,460,053

1,036,500

CURRENT ASSETS

Debtors

6

95,394

169,830

Cash at bank

531,765

1,129,340

627,159

1,299,170

CREDITORS

Amounts falling due within one year

7

414,393

483,606

NET CURRENT ASSETS

212,766

815,564

TOTAL ASSETS LESS CURRENT LIABILITIES

1,672,819

1,852,064

CREDITORS

Amounts falling due after more than one year

8

(1,083

)

(23,945

)

PROVISIONS FOR LIABILITIES

(38,649

)

(250,305

)

NET ASSETS

1,633,087

1,577,814

CAPITAL AND RESERVES

Called up share capital

90,318

Share premium

90,516

Capital redemption reserve

34,166

Retained earnings

1,418,087

1,362,814

SHAREHOLDERS' FUNDS

1,633,087

1,577,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2026 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2026 and were signed on its behalf by:

Mrs M I T Williamson - Director

J G Williamson - Director

D G F Ross - Director

1.	STATUTORY INFORMATION

BK Marine 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Boats

-

5% on reducing balance

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Boats

machinery

£

COST

At 1 July 2025

35,278

1,046,538

421,198

Additions

-

7,521

Disposals

-

(900,000

)

(1,160

)

At 30 June 2026

35,278

146,538

427,559

DEPRECIATION

At 1 July 2025

-

189,473

357,609

Charge for year

-

20,045

47,146

Eliminated on disposal

-

(134,495

)

(39

)

At 30 June 2026

-

75,023

404,716

NET BOOK VALUE

At 30 June 2026

35,278

71,515

22,843

At 30 June 2025

35,278

857,065

63,589

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 July 2025

120,282

7,762

1,631,058

Additions

-

7,521

Disposals

-

(901,160

)

At 30 June 2026

120,282

7,762

737,419

DEPRECIATION

At 1 July 2025

41,271

6,205

594,558

Charge for year

19,752

577

87,520

Eliminated on disposal

-

(134,534

)

At 30 June 2026

61,023

6,782

547,544

NET BOOK VALUE

At 30 June 2026

59,259

980

189,875

At 30 June 2025

79,011

1,557

1,036,500

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

Motor

vehicles

£

COST

At 1 July 2025

120,282

Transfer to ownership

(26,282

)

At 30 June 2026

94,000

DEPRECIATION

At 1 July 2025

41,271

Charge for year

16,980

Transfer to ownership

(15,193

)

At 30 June 2026

43,058

NET BOOK VALUE

At 30 June 2026

50,942

At 30 June 2025

79,011

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

1,270,178

At 30 June 2026

1,270,178

NET BOOK VALUE

At 30 June 2026

1,270,178

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.26

30.6.25

£

Trade debtors

30,320

115,419

Other debtors

65,074

54,411

95,394

169,830

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.26

30.6.25

£

Hire purchase contracts

20,639

27,500

Trade creditors

126,238

74,368

Taxation and social security

236,631

207,588

Other creditors

30,885

174,150

414,393

483,606

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.26

30.6.25

£

Hire purchase contracts

1,083

23,945

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2026 and 30 June 2025:

30.6.26

30.6.25

£

Mrs M I T Williamson and J G Williamson

Balance outstanding at start of year

-

Amounts advanced

3,241

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,241

-

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102

"The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby

they have occurred under normal market conditions.