Company Registration No. NI688257 (Northern Ireland)
Perigean Subsea Ltd
Unaudited accounts
for the year ended 31 May 2024
Perigean Subsea Ltd
Unaudited accounts
Contents
Perigean Subsea Ltd
Company Information
for the year ended 31 May 2024
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
Perigean Subsea Ltd
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
103,988
27,874
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
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
Perigean Subsea Ltd
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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
Charge for the year
11
102
113
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
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(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).