2023-01-012023-12-312023-12-31false08627650KAYLAN OFFSHORE 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KAYLAN OFFSHORE LIMITED

Registered Number
08627650
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

KAYLAN OFFSHORE LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

WARD, Rob Frazer
WARD, Stephen Christopher

Registered Address

Jubilee Court
Thackley Old Road
Shipley
BD18 1QF

Registered Number

08627650 (England and Wales)
KAYLAN OFFSHORE LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors352,44353,807
Cash at bank and on hand7,77139,452
60,21493,259
Creditors amounts falling due within one year4(6,864)(35,903)
Net current assets (liabilities)53,35057,356
Total assets less current liabilities53,35057,356
Net assets53,35057,356
Capital and reserves
Called up share capital100100
Profit and loss account53,25057,256
Shareholders' funds53,35057,356
The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2024, and are signed on its behalf by:
WARD, Rob Frazer
Director
Registered Company No. 08627650
KAYLAN OFFSHORE LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year44
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables8,5939,957
Amounts owed by group undertakings43,85043,850
Total52,44353,807
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,7816,626
Amounts owed to related parties1,65027,618
Taxation and social security1,4331,659
Total6,86435,903
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Related party transactions
The company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group.
6.Parent-subsidiary relationships
The company is a wholly owned subsidiary of KDEP Holdings Limited, a company registered in England and Wales and is not under the control of an individual or body. The financial statements of KDEP Holdings Limited are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.