Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-31trueproviding services in subsea unexploded ordinance risk.false2021-02-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11 11130601 2021-02-01 2022-01-31 11130601 2020-02-01 2021-01-31 11130601 2022-01-31 11130601 2021-01-31 11130601 c:Director1 2021-02-01 2022-01-31 11130601 d:CurrentFinancialInstruments 2022-01-31 11130601 d:CurrentFinancialInstruments 2021-01-31 11130601 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 11130601 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 11130601 d:ShareCapital 2022-01-31 11130601 d:ShareCapital 2021-01-31 11130601 d:RetainedEarningsAccumulatedLosses 2022-01-31 11130601 d:RetainedEarningsAccumulatedLosses 2021-01-31 11130601 c:FRS102 2021-02-01 2022-01-31 11130601 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 11130601 c:FullAccounts 2021-02-01 2022-01-31 11130601 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 11130601










EODEX UK - SUBSEA LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

 
EODEX UK - SUBSEA LTD
REGISTERED NUMBER: 11130601

BALANCE SHEET
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,381,735
327,006

Cash at bank and in hand
  
150,898
114,860

  
1,532,633
441,866

Creditors: amounts falling due within one year
 5 
(506,596)
(393,124)

Net current assets
  
 
 
1,026,037
 
 
48,742

Total assets less current liabilities
  
1,026,037
48,742

  

Net assets
  
1,026,037
48,742


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,025,937
48,642

  
1,026,037
48,742


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the statement of comprehensive income or the directors' report in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
EODEX UK - SUBSEA LTD
REGISTERED NUMBER: 11130601
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2022

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






A Woollven
Director

Date: 15 July 2022

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
EODEX UK - SUBSEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

Eodex UK - Subsea Limited is a private company, limited by share capital, incorporated in England and Wales, registered number 11130601. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
EODEX UK - SUBSEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
EODEX UK - SUBSEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Debtors

2022
2021
£
£


Trade debtors
13,877
326,906

Amounts owed by group undertakings
1,367,858
100

1,381,735
327,006



5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
3,600
-

Amounts owed to group undertakings
-
381,708

Corporation tax
121
-

Other taxation and social security
875
9,416

Accruals and deferred income
502,000
2,000

506,596
393,124


Page 5

 
EODEX UK - SUBSEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

6.


Related party transactions

At the balance sheet date, a balance of £1,367,758 (2021: £381,608 - due to) was due from group companies. This amount is unsecured, interest free and repayable on demand.

 
Page 6