IRIS Accounts Production v23.1.0.753 SC315343 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3153432022-03-31SC3153432023-03-31SC3153432022-04-012023-03-31SC3153432021-03-31SC3153432021-04-012022-03-31SC3153432022-03-31SC315343ns15:Scotland2022-04-012023-03-31SC315343ns14:PoundSterling2022-04-012023-03-31SC315343ns10:Director12022-04-012023-03-31SC315343ns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC315343ns10:SmallEntities2022-04-012023-03-31SC315343ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC315343ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC315343ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC315343ns10:FullAccounts2022-04-012023-03-31SC31534312022-04-012023-03-31SC315343ns10:Director22022-04-012023-03-31SC315343ns10:Director32022-04-012023-03-31SC315343ns10:Director42022-04-012023-03-31SC315343ns10:CompanySecretary12022-04-012023-03-31SC315343ns10:RegisteredOffice2022-04-012023-03-31SC315343ns5:CurrentFinancialInstruments2023-03-31SC315343ns5:CurrentFinancialInstruments2022-03-31SC315343ns5:Non-currentFinancialInstruments2023-03-31SC315343ns5:Non-currentFinancialInstruments2022-03-31SC315343ns5:ShareCapital2023-03-31SC315343ns5:ShareCapital2022-03-31SC315343ns5:RetainedEarningsAccumulatedLosses2023-03-31SC315343ns5:RetainedEarningsAccumulatedLosses2022-03-31SC315343ns5:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC315343ns5:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-31SC315343ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-012023-03-31SC315343ns5:PlantMachinery2022-04-012023-03-31SC315343ns5:IntangibleAssetsOtherThanGoodwill2022-03-31SC315343ns5:IntangibleAssetsOtherThanGoodwill2023-03-31SC315343ns5:IntangibleAssetsOtherThanGoodwill2022-03-31SC315343ns5:PlantMachinery2022-03-31SC315343ns5:PlantMachinery2023-03-31SC315343ns5:PlantMachinery2022-03-31SC315343ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC315343ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: SC315343 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

NAUTILUS RIGGING (UK) LTD

NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NAUTILUS RIGGING (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J S Toon
Mr J L Toon
Mr J A Toon
Mr C J Toon





SECRETARY: Mrs W G Toon





REGISTERED OFFICE: 71 Charleston Road North
Cove
Aberdeen
AB12 3SZ





REGISTERED NUMBER: SC315343 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
71 Charleston Road North
Cove
Aberdeen
Aberdeenshire
AB12 3SZ

NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 202,016 202,016
Tangible assets 5 1,409 1,879
203,425 203,895

CURRENT ASSETS
Stocks 58,190 106,051
Debtors 6 121,048 8,790
Cash at bank and in hand 136,479 77,912
315,717 192,753
CREDITORS
Amounts falling due within one year 7 59,819 50,722
NET CURRENT ASSETS 255,898 142,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,323

345,926

CREDITORS
Amounts falling due after more than one
year

8

161,658

87,791
NET ASSETS 297,665 258,135

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 297,565 258,035
SHAREHOLDERS' FUNDS 297,665 258,135

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





Mr J S Toon - Director


NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Nautilus Rigging (UK) Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 271,465
AMORTISATION
At 1 April 2022
and 31 March 2023 69,449
NET BOOK VALUE
At 31 March 2023 202,016
At 31 March 2022 202,016

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 20,028
DEPRECIATION
At 1 April 2022 18,149
Charge for year 470
At 31 March 2023 18,619
NET BOOK VALUE
At 31 March 2023 1,409
At 31 March 2022 1,879

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 31,048 8,790

Amounts falling due after more than one year:
Amounts owed by associates 90,000 -

Aggregate amounts 121,048 8,790

NAUTILUS RIGGING (UK) LTD (REGISTERED NUMBER: SC315343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors (1 ) 1
Taxation and social security 1,718 7,700
Other creditors 58,102 43,021
59,819 50,722

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 161,658 87,791