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REGISTERED NUMBER: SC706259 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

PROMETHEUS WELL ENGINEERING LIMITED

PROMETHEUS WELL ENGINEERING LIMITED (REGISTERED NUMBER: SC706259)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROMETHEUS WELL ENGINEERING LIMITED

Company Information
for the Year Ended 31 August 2023







DIRECTOR: I Coates





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC706259 (Scotland)






PROMETHEUS WELL ENGINEERING LIMITED (REGISTERED NUMBER: SC706259)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,302 840

CURRENT ASSETS
Debtors 5 23,974 16,161
Cash at bank 109,396 111,179
133,370 127,340
CREDITORS
Amounts falling due within one year 6 29,461 32,715
NET CURRENT ASSETS 103,909 94,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,211

95,465

PROVISIONS FOR LIABILITIES 273 159
NET ASSETS 104,938 95,306

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 104,838 95,206
104,938 95,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROMETHEUS WELL ENGINEERING LIMITED (REGISTERED NUMBER: SC706259)

Balance Sheet - continued
31 August 2023


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 director and authorised for issue on 23 November 2023 and were signed by:





I Coates - Director


PROMETHEUS WELL ENGINEERING LIMITED (REGISTERED NUMBER: SC706259)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Prometheus Well Engineering 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.
Fixtures and fittings - 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.

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 1 (2022 - 1 ) .

PROMETHEUS WELL ENGINEERING LIMITED (REGISTERED NUMBER: SC706259)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 180 829 1,009
Additions - 1,072 1,072
At 31 August 2023 180 1,901 2,081
DEPRECIATION
At 1 September 2022 37 132 169
Charge for year 36 574 610
At 31 August 2023 73 706 779
NET BOOK VALUE
At 31 August 2023 107 1,195 1,302
At 31 August 2022 143 697 840

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,974 16,161

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 27,733 31,215
Other creditors 1,728 1,500
29,461 32,715

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Coates.