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REGISTERED NUMBER: 01348889 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SUBAQUA PRO LIMITED

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUBAQUA PRO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: T A Smith
Mrs K M Smith
G T Smith
Miss M D Smith
Mrs M L Boyton-Quinion
D J C Smith





SECRETARY: Mrs K M Smith





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 01348889 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,963,525 1,965,500

CURRENT ASSETS
Debtors 5 23,832 22,716
Cash at bank 25,067 22,430
48,899 45,146
CREDITORS
Amounts falling due within one year 6 46,193 37,711
NET CURRENT ASSETS 2,706 7,435
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,966,231

1,972,935

CREDITORS
Amounts falling due after more than one
year

7

(202,935

)

(241,201

)

PROVISIONS FOR LIABILITIES (2,444 ) (2,781 )
NET ASSETS 1,760,852 1,728,953

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Share premium 144,942 144,942
Retained earnings 1,610,910 1,579,011
SHAREHOLDERS' FUNDS 1,760,852 1,728,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 19 August 2024 and were signed on its behalf by:





T A Smith - Director


SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Subaqua Pro Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on cost
Motor vehicles - 25% on reducing balance

The freehold property includes investment property and has not been depreciated. Although this represents a departure from the requirements of the Companies Act 2006, the property has not been depreciated on the grounds that the residual value is likely to at least equate to its historic cost, and any charge for depreciation would therefore be negligible. In the opinion of the directors, the accounting treatment does not therefore depart from the requirement of the accounts to show a true and fair view. The directors also believe that following the most recent revaluation the current market value of the investment property approximates to the value at which it is stated in the accounts, and that any further revaluation to market value at the Balance Sheet date would be negligible.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 December 2022 1,948,355 34,489 19,156 11,691 2,013,691
Additions - - 3,756 - 3,756
At 30 November 2023 1,948,355 34,489 22,912 11,691 2,017,447
DEPRECIATION
At 1 December 2022 - 25,444 15,656 7,091 48,191
Charge for year - 2,261 2,320 1,150 5,731
At 30 November 2023 - 27,705 17,976 8,241 53,922
NET BOOK VALUE
At 30 November 2023 1,948,355 6,784 4,936 3,450 1,963,525
At 30 November 2022 1,948,355 9,045 3,500 4,600 1,965,500

Cost or valuation at 30 November 2023 is represented by:

Freehold Plant and Computer Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
Valuation in 1999 342,567 - - - 342,567
Valuation in 2013 964,070 - - - 964,070
Cost 641,718 34,489 22,912 11,691 710,810
1,948,355 34,489 22,912 11,691 2,017,447

On 30 May 2013 a revaluation of the company's Chiswick property was undertaken by Whitman and Co valuing the said property on an open market basis at £1,775,000. This resulted in an uplift of £964,070. The directors consider the valuation at which the freehold property is currently stated is a true and fair reflection of it's open market value at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 11,185 -
Other debtors 5,640 632
Directors' current accounts 5,600 20,666
Prepayments 1,407 1,418
23,832 22,716

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 5,396 10,734
Corporation tax 7,733 3,542
Social security and other taxes - 4,745
Other creditors 10,424 10,424
Directors' current accounts 19,900 5,486
Accrued expenses 2,740 2,780
46,193 37,711

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Group undertakings 202,935 241,201

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
T A Smith and Mrs K M Smith
Balance outstanding at start of year 11,467 30,623
Amounts advanced 61,022 24,653
Amounts repaid (91,002 ) (43,809 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,513 ) 11,467

G T Smith
Balance outstanding at start of year (243 ) 357
Amounts advanced - 2,200
Amounts repaid - (2,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (243 ) (243 )

Miss M D Smith
Balance outstanding at start of year 9,199 299
Amounts advanced - 12,000
Amounts repaid (9,200 ) (3,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1 ) 9,199

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D J C Smith
Balance outstanding at start of year (1,143 ) (543 )
Amounts advanced - 2,000
Amounts repaid - (2,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,143 ) (1,143 )

Mrs M L Boyton-Quinion
Balance outstanding at start of year (4,100 ) (2,800 )
Amounts advanced 9,700 1,600
Amounts repaid - (2,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,600 (4,100 )

The company has charged interest at the official rate on amounts temporarily loaned to the directors (where the balance exceeded £10,000) during the year.

The directors' current accounts figure comprises amounts due to the company at the Balance Sheet date from Miss M L Boyton-Quinion in the sum of £5,600. These amounts were repaid to the company in instalments, with the loan fully repaid on 15 August 2024.

9. RELATED PARTY DISCLOSURES

During the year the company was controlled by Mr T A Smith and Mrs K M Smith by virtue of the fact that they owned 100% of the issued share capital of the holding company, Taspro Limited.