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Registered Number: SC720671
Scotland

 

 

 

KERDEM OFFSHORE GROUTING SERVICES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
Principal activity of the company during the financial year was of engineering.
Director
The director who served the company throughout the year was as follows:
Brian Thomas MCMAHON
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Brian Thomas MCMAHON
Director

Date approved: 16 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 8,535    1,055 
8,535    1,055 
Current assets      
Debtors 4   7,110 
Cash at bank and in hand 14,150    11,421 
14,150    18,531 
Creditors: amount falling due within one year 5 (7,304)   (10,167)
Net current assets 6,846    8,364 
 
Total assets less current liabilities 15,381    9,419 
Provisions for liabilities 6 (1,622)   (200)
Net assets 13,759    9,219 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 13,758    9,218 
Shareholders' funds 13,759    9,219 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 16 October 2024 and were signed by:


-------------------------------
Brian Thomas MCMAHON
Director
2
General Information
KERDEM OFFSHORE GROUTING SERVICES LTD is a private company, limited by shares, registered in Scotland, registration number SC720671, registration address 36 Faskine Avenue, Airdrie, ML6 9DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 February 2023   1,575    1,575 
Additions 10,000      10,000 
Disposals    
At 31 January 2024 10,000    1,575    11,575 
Depreciation
At 01 February 2023   520    520 
Charge for year 2,000    520    2,520 
On disposals    
At 31 January 2024 2,000    1,040    3,040 
Net book values
Closing balance as at 31 January 2024 8,000    535    8,535 
Opening balance as at 01 February 2023   1,055    1,055 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   7,093 
Directors' Current Accounts   17 
  7,110 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 4,335    8,999 
Accrued Expenses 1,168    1,168 
Directors' Current Accounts 1,801   
7,304    10,167 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,622    200 
1,622    200 

3