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Company Registration No. 04024648 (England and Wales)
Poseidon Diving Systems Ltd Unaudited accounts for the year ended 27 December 2023
Poseidon Diving Systems Ltd Unaudited accounts Contents
Page
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Poseidon Diving Systems Ltd Company Information for the year ended 27 December 2023
Directors
Thomas Edward Barker Gareth Roberts
Company Number
04024648 (England and Wales)
Registered Office
Unit 1A Rookery Farm Ramsdean Petersfield GU32 1RU
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
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Poseidon Diving Systems Ltd Statement of financial position as at 27 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,934 
5,805 
Current assets
Inventories
45,422 
51,750 
Debtors
23,730 
23,975 
Cash at bank and in hand
2,576 
863 
71,728 
76,588 
Creditors: amounts falling due within one year
(34,907)
(38,728)
Net current assets
36,821 
37,860 
Total assets less current liabilities
41,755 
43,665 
Creditors: amounts falling due after more than one year
(12,080)
(20,436)
Provisions for liabilities
Deferred tax
(318)
(347)
Net assets
29,357 
22,882 
Capital and reserves
Called up share capital
100,000 
100,000 
Profit and loss account
(70,643)
(77,118)
Shareholders' funds
29,357 
22,882 
For the year ending 27 December 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by
Thomas Edward Barker Director Company Registration No. 04024648
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Poseidon Diving Systems Ltd Notes to the Accounts for the year ended 27 December 2023
1
Statutory information
Poseidon Diving Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 04024648. The registered office is Unit 1A, Rookery Farm, Ramsdean, Petersfield, GU32 1RU.
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
15% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Prior Period Errors
It has been discovered that there were a number of errors in the historical financial statements. The control accounts affected are sales ledger, VAT and other debtors. Historical sales have been overstated by £59,340 however the exact dates are undeterminable. The prior years accounts have been restated to include this adjustment
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 28 December 2022
5,785 
5,270 
32,017 
43,072 
At 27 December 2023
5,785 
5,270 
32,017 
43,072 
Depreciation
At 28 December 2022
5,785 
5,220 
26,262 
37,267 
Charge for the year
- 
8 
863 
871 
At 27 December 2023
5,785 
5,228 
27,125 
38,138 
Net book value
At 27 December 2023
- 
42 
4,892 
4,934 
At 27 December 2022
- 
50 
5,755 
5,805 
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Poseidon Diving Systems Ltd Notes to the Accounts for the year ended 27 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,476 
2,000 
Accrued income and prepayments
6,196 
6,152 
Other debtors
16,058 
15,823 
23,730 
23,975 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
8,519 
8,064 
Trade creditors
3,486 
7,873 
Taxes and social security
21,729 
6,286 
Other creditors
173 
13,955 
Accruals
1,000 
2,550 
34,907 
38,728 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,080 
20,436 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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