UK Diveworks Commercial Limited 13061955 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is commercial diving. Digita Accounts Production Advanced 6.30.9574.0 true true 13061955 2023-01-01 2023-12-31 13061955 2023-12-31 13061955 bus:OrdinaryShareClass1 2023-12-31 13061955 core:RetainedEarningsAccumulatedLosses 2023-12-31 13061955 core:ShareCapital 2023-12-31 13061955 core:CurrentFinancialInstruments 2023-12-31 13061955 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13061955 core:MotorVehicles 2023-12-31 13061955 core:OfficeEquipment 2023-12-31 13061955 core:PlantMachinery 2023-12-31 13061955 bus:SmallEntities 2023-01-01 2023-12-31 13061955 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13061955 bus:FilletedAccounts 2023-01-01 2023-12-31 13061955 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13061955 bus:RegisteredOffice 2023-01-01 2023-12-31 13061955 bus:Director1 2023-01-01 2023-12-31 13061955 bus:Director2 2023-01-01 2023-12-31 13061955 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13061955 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13061955 core:MotorVehicles 2023-01-01 2023-12-31 13061955 core:OfficeEquipment 2023-01-01 2023-12-31 13061955 core:PlantMachinery 2023-01-01 2023-12-31 13061955 countries:EnglandWales 2023-01-01 2023-12-31 13061955 2022-12-31 13061955 core:MotorVehicles 2022-12-31 13061955 core:OfficeEquipment 2022-12-31 13061955 core:PlantMachinery 2022-12-31 13061955 2022-01-01 2022-12-31 13061955 2022-12-31 13061955 bus:OrdinaryShareClass1 2022-12-31 13061955 core:RetainedEarningsAccumulatedLosses 2022-12-31 13061955 core:ShareCapital 2022-12-31 13061955 core:CurrentFinancialInstruments 2022-12-31 13061955 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13061955 core:MotorVehicles 2022-12-31 13061955 core:OfficeEquipment 2022-12-31 13061955 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13061955

UK Diveworks Commercial Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

UK Diveworks Commercial Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

UK Diveworks Commercial Limited

Company Information

Directors

Mr AE Wilkins

Mr DP Walters

Registered office

Unit 14
Wessex Trade Centre
Ringwood Road
Poole
BH12 3PQ

Accountants

Athena Accounting Ltd
Chartered Accountants
81 Andrew Crescent
Waterlooville
Hampshire
PO7 6BG

 

UK Diveworks Commercial Limited

(Registration number: 13061955)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

125,027

21,823

Current assets

 

Debtors

5

43,975

3,729

Cash at bank and in hand

 

36,200

12,351

 

80,175

16,080

Creditors: Amounts falling due within one year

6

(58,505)

(39,700)

Net current assets/(liabilities)

 

21,670

(23,620)

Total assets less current liabilities

 

146,697

(1,797)

Provisions for liabilities

(29,381)

-

Net assets/(liabilities)

 

117,316

(1,797)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

117,216

(1,897)

Shareholders' funds/(deficit)

 

117,316

(1,797)

 

UK Diveworks Commercial Limited

(Registration number: 13061955)
Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 September 2024 and signed on its behalf by:
 

.........................................
Mr AE Wilkins
Director

.........................................
Mr DP Walters
Director

 

UK Diveworks Commercial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14
Wessex Trade Centre
Ringwood Road
Poole
BH12 3PQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

UK Diveworks Commercial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Office equipment

33.3% straight line basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

UK Diveworks Commercial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

UK Diveworks Commercial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

34,081

1,919

-

36,000

Additions

134,375

1,056

11,200

146,631

Disposals

(1,380)

-

-

(1,380)

At 31 December 2023

167,076

2,975

11,200

181,251

Depreciation

At 1 January 2023

13,301

876

-

14,177

Charge for the year

38,506

991

2,800

42,297

Eliminated on disposal

(250)

-

-

(250)

At 31 December 2023

51,557

1,867

2,800

56,224

Carrying amount

At 31 December 2023

115,519

1,108

8,400

125,027

At 31 December 2022

20,780

1,043

-

21,823

 

UK Diveworks Commercial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Debtors

2023
£

2022
£

Trade debtors

22,008

-

Other debtors

20,981

400

Prepayments

986

3,329

43,975

3,729

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

9,365

1,099

Taxation and social security

29,911

5,400

Other creditors

19,229

33,201

58,505

39,700

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100