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Registration number: 14603221

Neptune Offshore Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Period from 19 January 2023 to 30 June 2024

 

Neptune Offshore Consultants Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Neptune Offshore Consultants Ltd

Company Information

Director

Mr Paul Leonard

Registered office

5 Herdinghill
Washington
NE37 1LA

Accountants

Tax Innovations Limited
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

 

Neptune Offshore Consultants Ltd

(Registration number: 14603221)
Balance Sheet as at 30 June 2024

Note

2024
£

Current assets

 

Cash at bank and in hand

 

7

Creditors: Amounts falling due within one year

4

(2,020)

Net liabilities

 

(2,013)

Capital and reserves

 

Called up share capital

5

1

Retained earnings

(2,014)

Shareholders' deficit

 

(2,013)

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 August 2024
 

.........................................
Mr Paul Leonard
Director

 

Neptune Offshore Consultants Ltd

Notes to the Unaudited Financial Statements for the Period from 19 January 2023 to 30 June 2024

1

General information

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

The address of its registered office is:
5 Herdinghill
Washington
NE37 1LA
England

These financial statements were authorised for issue by the director on 31 August 2024.

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, notwithstanding the fact that as at 30 June 2024 total liabilities exceeded total assets by £2,013. The basis is dependent upon the on-going support of the director, who has not indicated his intention to withdraw support.

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.

 

Neptune Offshore Consultants Ltd

Notes to the Unaudited Financial Statements for the Period from 19 January 2023 to 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Neptune Offshore Consultants Ltd

Notes to the Unaudited Financial Statements for the Period from 19 January 2023 to 30 June 2024

4

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts due to related parties

6

220

Accruals

 

1,800

 

2,020

5

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

1

1

   

6

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

Remuneration

166,500

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

220