Umbilical Management Services Ltd Filleted Accounts Cover
Umbilical Management Services Ltd
Company No. 08135799
Information for Filing with The Registrar
31 July 2023
Umbilical Management Services Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 July 2023.
Principal activities
The principal activity of the company during the year under review was that of the provision of inspection and support services to the oil and gas industries.
Director
The Director who served at any time during the year was as follows:
G.W. Fraser
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
G.W. Fraser
Director
09 October 2023
Umbilical Management Services Ltd Balance Sheet Registrar
at
31 July 2023
Company No.
08135799
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
3,0882,566
3,0882,566
Current assets
Debtors
5
15,2968,430
Cash at bank and in hand
116,56989,939
131,86598,369
Creditors: Amount falling due within one year
6
(8,350)
(27,468)
Net current assets
123,51570,901
Total assets less current liabilities
126,60373,467
Net assets
126,60373,467
Capital and reserves
Called up share capital
100100
Profit and loss account
8
126,50373,367
Total equity
126,60373,467
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 July 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 09 October 2023
And signed on its behalf by:
G.W. Fraser
Director
09 October 2023
Umbilical Management Services Ltd Notes to the Accounts Registrar
for the year ended 31 July 2023
1
General information
Its registered number is: 08135799
Its registered office is:
155 Roseden Way
Brunton Grange
Newcastle on Tyne
NE13 9DS
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 August 2022
7,7707,770
Additions
1,2941,294
At 31 July 2023
9,0649,064
Depreciation
At 1 August 2022
5,2045,204
Charge for the year
772772
At 31 July 2023
5,9765,976
Net book values
At 31 July 2023
3,0883,088
At 31 July 2022
2,566
2,566
5
Debtors
2023
2022
£
£
Trade debtors
15,2968,430
15,2968,430
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
7,245
2
Loans from directors
39126,751
Accruals and deferred income
714715
8,35027,468
7
Share Capital
100 Ordinary shares of £1 each
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
13,000
30,000
13,000
30,000
Dividends by type:
Equity dividends
13,00030,000
13,000
30,000
Umbilical Management Services Ltd0813579931 July 202301 August 2022false09 October 2023BTCSoftware AP Solution 2023 10.3.0110.3.01true081357992022-08-012023-07-31081357992023-07-31081357992022-07-3108135799core:WithinOneYear2023-07-3108135799core:WithinOneYear2022-07-3108135799core:ShareCapital2023-07-3108135799core:ShareCapital2022-07-3108135799core:RetainedEarningsAccumulatedLosses2023-07-3108135799core:RetainedEarningsAccumulatedLosses2022-07-3108135799bus:RegisteredOffice2022-08-012023-07-3108135799core:FurnitureFittingsToolsEquipment2022-08-012023-07-31081357992021-08-012022-07-3108135799core:FurnitureFittingsToolsEquipment2022-08-01081357992022-08-0108135799core:FurnitureFittingsToolsEquipment2023-07-3108135799core:RetainedEarningsAccumulatedLosses2022-08-012023-07-3108135799bus:AllOrdinaryShares2022-08-012023-07-3108135799bus:SmallEntities2022-08-012023-07-3108135799bus:FullAccounts2022-08-012023-07-3108135799bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3108135799bus:Director12022-08-012023-07-3108135799bus:PrivateLimitedCompanyLtd2022-08-012023-07-31iso4217:GBPxbrli:pure