Silverfin false true 31/12/2023 01/01/2023 31/12/2023 D C Rigg 01/08/2012 09 August 2024 that of a non trading company. 08164796 2023-12-31 08164796 bus:Director1 2023-12-31 08164796 2022-12-31 08164796 core:CurrentFinancialInstruments 2023-12-31 08164796 core:CurrentFinancialInstruments 2022-12-31 08164796 core:ShareCapital 2023-12-31 08164796 core:ShareCapital 2022-12-31 08164796 core:RetainedEarningsAccumulatedLosses 2023-12-31 08164796 core:RetainedEarningsAccumulatedLosses 2022-12-31 08164796 core:OtherResidualIntangibleAssets 2022-12-31 08164796 core:OtherResidualIntangibleAssets 2023-12-31 08164796 core:OtherPropertyPlantEquipment 2022-12-31 08164796 core:OtherPropertyPlantEquipment 2023-12-31 08164796 2023-01-01 2023-12-31 08164796 bus:FilletedAccounts 2023-01-01 2023-12-31 08164796 bus:SmallEntities 2023-01-01 2023-12-31 08164796 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08164796 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08164796 bus:Director1 2023-01-01 2023-12-31 08164796 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 08164796 (England and Wales)

NORTH SEA SYSTEMS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

NORTH SEA SYSTEMS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

NORTH SEA SYSTEMS LTD

BALANCE SHEET

As at 31 December 2023
NORTH SEA SYSTEMS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 67,050 67,050
Tangible assets 4 1,004 1,004
68,054 68,054
Current assets
Cash at bank and in hand 725 725
725 725
Creditors: amounts falling due within one year 5 ( 127,198) ( 127,198)
Net current liabilities (126,473) (126,473)
Total assets less current liabilities (58,419) (58,419)
Net liabilities ( 58,419) ( 58,419)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 58,519 ) ( 58,519 )
Total shareholders' deficit ( 58,419) ( 58,419)

North Sea Systems Ltd (registered number: 08164796) did not trade during the current or preceding financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current or preceding financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The financial statements of North Sea Systems Ltd (registered number: 08164796) were approved and authorised for issue by the Director on 09 August 2024. They were signed on its behalf by:

D C Rigg
Director
NORTH SEA SYSTEMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
NORTH SEA SYSTEMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

North Sea Systems Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2023 152,000 152,000
At 31 December 2023 152,000 152,000
Accumulated amortisation
At 01 January 2023 84,950 84,950
At 31 December 2023 84,950 84,950
Net book value
At 31 December 2023 67,050 67,050
At 31 December 2022 67,050 67,050

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 4,365 4,365
At 31 December 2023 4,365 4,365
Accumulated depreciation
At 01 January 2023 3,361 3,361
At 31 December 2023 3,361 3,361
Net book value
At 31 December 2023 1,004 1,004
At 31 December 2022 1,004 1,004

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,806 5,806
Other taxation and social security 1,017 1,017
Other creditors 120,375 120,375
127,198 127,198