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REGISTERED NUMBER: SC315978 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Seaprobe Atlantis Limited

Seaprobe Atlantis Limited (Registered number: SC315978)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Seaprobe Atlantis Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S E Smith
Mrs M A Paton
Dr J W Smith





SECRETARY: Mrs M A Paton





REGISTERED OFFICE: 4 Upper Breakish
Breakish
Isle of Skye
IV42 8PY





REGISTERED NUMBER: SC315978 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Seaprobe Atlantis Limited (Registered number: SC315978)

Statement of Financial Position
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 404,199 427,945

CURRENT ASSETS
Debtors 5 3,668 21,064
Cash at bank 82,505 1,449
86,173 22,513
CREDITORS
Amounts falling due within one year 6 338,546 319,548
NET CURRENT LIABILITIES (252,373 ) (297,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,826

130,910

CREDITORS
Amounts falling due after more than one
year

7

(103,851

)

(120,246

)

PROVISIONS FOR LIABILITIES (59,500 ) (61,500 )
NET LIABILITIES (11,525 ) (50,836 )

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings (11,531 ) (50,842 )
SHAREHOLDERS' FUNDS (11,525 ) (50,836 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Seaprobe Atlantis Limited (Registered number: SC315978)

Statement of Financial Position - continued
31 October 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mrs M A Paton - Director


Seaprobe Atlantis Limited (Registered number: SC315978)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Seaprobe Atlantis 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
Revenue 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.
Freehold property - 10% on reducing balance
Leasehold improvements - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Boats - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

Seaprobe Atlantis Limited (Registered number: SC315978)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 302,570 705,774 1,008,344
DEPRECIATION
At 1 November 2022 132,057 448,342 580,399
Charge for year 13,067 10,679 23,746
At 31 October 2023 145,124 459,021 604,145
NET BOOK VALUE
At 31 October 2023 157,446 246,753 404,199
At 31 October 2022 170,513 257,432 427,945

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors - 6,355
Other debtors 3,668 14,709
3,668 21,064

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 21,990 25,253
Trade creditors 4,965 4,573
Taxation and social security 15,909 14,275
Other creditors 295,682 275,447
338,546 319,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Bank loans 103,851 116,888
Other creditors - 3,358
103,851 120,246