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REGISTERED NUMBER: 13814646 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DIVE RAID INTERNATIONAL LTD

DIVE RAID INTERNATIONAL LTD (REGISTERED NUMBER: 13814646)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DIVE RAID INTERNATIONAL LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: P V Toomer
S Bianco
C L Fabritz
C J Haslam
G Iaria
S Lewis
B W Louw
P J Prinsloo
K Van Der Walt





SECRETARY: L Toomer





REGISTERED OFFICE: 7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 13814646 (England and Wales)

DIVE RAID INTERNATIONAL LTD (REGISTERED NUMBER: 13814646)

BALANCE SHEET
31 December 2023

2023 2022
as restated
Notes $    $    $    $   
FIXED ASSETS
Intangible assets 4 207,852 233,833
Tangible assets 5 1,501 1,708
Investments 6 1 1
209,354 235,542

CURRENT ASSETS
Stocks 1,276 3,376
Debtors 7 36,763 36,233
Cash at bank 214,594 167,991
252,633 207,600
CREDITORS
Amounts falling due within one year 8 171,673 144,055
NET CURRENT ASSETS 80,960 63,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,314

299,087

CAPITAL AND RESERVES
Called up share capital 9 9
Share premium 278,091 278,091
Capital redemption reserve 12 12
Retained earnings 12,202 20,975
SHAREHOLDERS' FUNDS 290,314 299,087

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S Bianco - Director


DIVE RAID INTERNATIONAL LTD (REGISTERED NUMBER: 13814646)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

Dive RAID International Ltd is a private company, limited by shares , registered in England and Wales. 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 represents sales of diving support services, excluding value added tax, performed during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Goodwill
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.

Goodwill is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-20% on reducing balance method

Stocks
Stocks are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities, except for investments in shares, which are recognised at cost, less impairment. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Taxation
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.

Current tax assets and liabilities are not discounted and are 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.

Investment in shares
Investments in shares are recognised at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

DIVE RAID INTERNATIONAL LTD (REGISTERED NUMBER: 13814646)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
$   
COST
At 1 January 2023
and 31 December 2023 259,815
AMORTISATION
At 1 January 2023 25,982
Charge for year 25,981
At 31 December 2023 51,963
NET BOOK VALUE
At 31 December 2023 207,852
At 31 December 2022 233,833

5. TANGIBLE FIXED ASSETS
Computer
equipment
$   
COST
At 1 January 2023
and 31 December 2023 1,958
DEPRECIATION
At 1 January 2023 250
Charge for year 207
At 31 December 2023 457
NET BOOK VALUE
At 31 December 2023 1,501
At 31 December 2022 1,708

6. FIXED ASSET INVESTMENTS
Other
investments
$   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
$    $   
Trade debtors 21,703 20,814
Other debtors 5,669 6,319
Prepayments and accrued income 9,391 9,100
36,763 36,233

DIVE RAID INTERNATIONAL LTD (REGISTERED NUMBER: 13814646)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
$    $   
Trade creditors 15,415 14,065
Corporation tax 4,072 11,582
Other creditors 2,387 -
Directors' loan accounts 113,232 113,232
Accruals and deferred income 36,567 5,176
171,673 144,055