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REGISTERED NUMBER: SC447832 (Scotland)















Financial Statements for the Year Ended 30 April 2024

for

DFR Subsea Services Limited

DFR Subsea Services Limited (Registered number: SC447832)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DFR Subsea Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D A S Fraser
Mrs H Fraser





REGISTERED OFFICE: Applecross Easterton of Auchleuchries
Hatton
Peterhead
Aberdeenshire
AB42 0TQ





REGISTERED NUMBER: SC447832 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

DFR Subsea Services Limited (Registered number: SC447832)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,142 33,641

CURRENT ASSETS
Stocks 4,000 17,008
Debtors 5 41,769 2,428
Cash at bank 67,758 70,227
113,527 89,663
CREDITORS
Amounts falling due within one year 6 42,535 32,923
NET CURRENT ASSETS 70,992 56,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,134

90,381

CREDITORS
Amounts falling due after more than one year 7 (10,200 ) (1,287 )

PROVISIONS FOR LIABILITIES (11,995 ) (5,823 )
NET ASSETS 108,939 83,271

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 108,839 83,171
SHAREHOLDERS' FUNDS 108,939 83,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DFR Subsea Services Limited (Registered number: SC447832)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





D A S Fraser - Director


DFR Subsea Services Limited (Registered number: SC447832)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

DFR Subsea Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DFR Subsea Services Limited (Registered number: SC447832)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 3,455 108,505 111,960
Additions - 46,422 46,422
Disposals - (8,500 ) (8,500 )
At 30 April 2024 3,455 146,427 149,882
DEPRECIATION
At 1 May 2023 - 78,319 78,319
Charge for year - 19,070 19,070
Eliminated on disposal - (7,649 ) (7,649 )
At 30 April 2024 - 89,740 89,740
NET BOOK VALUE
At 30 April 2024 3,455 56,687 60,142
At 30 April 2023 3,455 30,186 33,641

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 39,528 -
Other debtors 2,241 2,428
41,769 2,428

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 4,346 3,860
Taxation and social security 36,222 26,848
Other creditors 1,967 2,215
42,535 32,923

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 10,200 1,287

DFR Subsea Services Limited (Registered number: SC447832)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. RELATED PARTY DISCLOSURES

During the year the directors Mr David Fraser and Mrs Heather Fraser advanced the company net amount of £67. These amounts remained outstanding at 30th April 2024 and are included within other creditors in the notes to the accounts.

9. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors by virtue of their percentage holding in the ordinary share capital of the company which is detailed below.

Mr David Fraser - 50%
Mrs Heather Fraser - 50%