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Company Registration No. 01101908 (England and Wales)
Solent Divers (Portsmouth) Limited Unaudited accounts for the year ended 30 November 2023
Solent Divers (Portsmouth) Limited Unaudited accounts Contents
Page
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Solent Divers (Portsmouth) Limited Company Information for the year ended 30 November 2023
Directors
Mr A Hares Mr P Hares Mrs V Hares
Secretary
Mrs V C Hares
Company Number
01101908 (England and Wales)
Registered Office
122-128 Lake Road Portsmouth Hampshire PO1 4HH
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Solent Divers (Portsmouth) Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,336 
16,450 
Investments
100 
100 
16,436 
16,550 
Current assets
Inventories
55,891 
57,439 
Debtors
16,453 
35,427 
Cash at bank and in hand
56,633 
76,870 
128,977 
169,736 
Creditors: amounts falling due within one year
(179,904)
(181,655)
Net current liabilities
(50,927)
(11,919)
Total assets less current liabilities
(34,491)
4,631 
Provisions for liabilities
Deferred tax
(1,979)
(1,979)
Net (liabilities)/assets
(36,470)
2,652 
Capital and reserves
Called up share capital
15,003 
15,003 
Profit and loss account
(51,473)
(12,351)
Shareholders' funds
(36,470)
2,652 
For the year ending 30 November 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by
Mr A Hares Director Company Registration No. 01101908
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Solent Divers (Portsmouth) Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Solent Divers (Portsmouth) Limited is a private company, limited by shares, registered in England and Wales, registration number 01101908. The registered office is 122-128 Lake Road, Portsmouth, Hampshire, PO1 4HH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Improvements to property - 2% straight line Plant & machinery - 10% on reducing balance Fixtures & fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 25% on reducing balance
Investment in subsidaries
Investments in subsidiary undertakings are recognised at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting its liabilities.
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Solent Divers (Portsmouth) Limited Notes to the Accounts for the year ended 30 November 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing committments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due. The assets of the scheme are held separately from those of the company.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for use. The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 December 2022
8,700 
66,876 
17,833 
3,986 
7,152 
104,547 
Additions
- 
1,719 
- 
- 
- 
1,719 
Disposals
- 
(706)
- 
- 
- 
(706)
At 30 November 2023
8,700 
67,889 
17,833 
3,986 
7,152 
105,560 
Depreciation
At 1 December 2022
2,668 
56,551 
17,819 
3,983 
7,076 
88,097 
Charge for the year
174 
998 
4 
3 
19 
1,198 
On disposals
- 
(71)
- 
- 
- 
(71)
At 30 November 2023
2,842 
57,478 
17,823 
3,986 
7,095 
89,224 
Net book value
At 30 November 2023
5,858 
10,411 
10 
- 
57 
16,336 
At 30 November 2022
6,032 
10,325 
14 
3 
76 
16,450 
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Solent Divers (Portsmouth) Limited Notes to the Accounts for the year ended 30 November 2023
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 December 2022
100 
Valuation at 30 November 2023
100 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,027 
21,475 
Accrued income and prepayments
1,426 
10,648 
Other debtors
- 
3,304 
16,453 
35,427 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
18,049 
17,579 
Taxes and social security
9,115 
9,823 
Other creditors
152,740 
154,253 
179,904 
181,655 
8
Controlling party
The ultimate controlling part is Mrs V Hares, Mr A Hares and Mr P Hares jointly.
9
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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