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Company Registration No. NI688257 (Northern Ireland)
Perigean Subsea Ltd Unaudited accounts for the year ended 31 May 2024
Perigean Subsea Ltd Unaudited accounts Contents
Page
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Perigean Subsea Ltd Company Information for the year ended 31 May 2024
Director
K Floyd
Company Number
NI688257 (Northern Ireland)
Registered Office
74 Monree Hill Craigavon Co. Armagh BT66 7GZ
Accountants
SJK 8 Bridge Road Moira Co. Armagh BT67 0PF
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Perigean Subsea Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
799 
63 
Current assets
Debtors
15,545 
9,783 
Cash at bank and in hand
103,988 
27,874 
119,533 
37,657 
Creditors: amounts falling due within one year
(80,685)
(18,310)
Net current assets
38,848 
19,347 
Total assets less current liabilities
39,647 
19,410 
Provisions for liabilities
Deferred tax
(152)
(12)
Net assets
39,495 
19,398 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
39,494 
19,397 
Shareholders' funds
39,495 
19,398 
For the year ending 31 May 2024 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 director acknowledges his 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 and authorised for issue on 6 September 2024 and were signed on its behalf by
K Floyd Director Company Registration No. NI688257
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Perigean Subsea Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Perigean Subsea Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI688257. The registered office is 74 Monree Hill, Craigavon, Co. Armagh, BT66 7GZ.
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.
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:
Plant & machinery
18% Reducing balance basis
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.
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.
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Perigean Subsea Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
77 
- 
77 
Additions
- 
849 
849 
At 31 May 2024
77 
849 
926 
Depreciation
At 1 June 2023
14 
- 
14 
Charge for the year
11 
102 
113 
At 31 May 2024
25 
102 
127 
Net book value
At 31 May 2024
52 
747 
799 
At 31 May 2023
63 
- 
63 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,545 
9,783 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
34,774 
13,831 
Loans from directors
45,911 
4,479 
80,685 
18,310 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
K Floyd
(4,479)
52,344 
93,776 
(45,911)
(4,479)
52,344 
93,776 
(45,911)
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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