0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,406 2,971 157 3,128 278 435 6,852 6,883 630 16 614 6,269 6,222 xbrli:pure xbrli:shares iso4217:GBP 09526883 2023-04-01 2024-03-31 09526883 2024-03-31 09526883 2023-03-31 09526883 2022-04-01 2023-03-31 09526883 2023-03-31 09526883 2022-03-31 09526883 bus:Director1 2023-04-01 2024-03-31 09526883 core:WithinOneYear 2024-03-31 09526883 core:WithinOneYear 2023-03-31 09526883 core:AfterOneYear 2024-03-31 09526883 core:AfterOneYear 2023-03-31 09526883 core:ShareCapital 2024-03-31 09526883 core:ShareCapital 2023-03-31 09526883 core:RetainedEarningsAccumulatedLosses 2024-03-31 09526883 core:RetainedEarningsAccumulatedLosses 2023-03-31 09526883 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 09526883 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 09526883 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-03-31 09526883 core:ImpairmentReversalProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-03-31 09526883 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-03-31 09526883 core:Non-currentFinancialInstruments 2024-03-31 09526883 core:Non-currentFinancialInstruments 2023-03-31 09526883 bus:SmallEntities 2023-04-01 2024-03-31 09526883 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09526883 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09526883 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09526883 bus:FullAccounts 2023-04-01 2024-03-31 09526883 core:OfficeEquipment 2023-04-01 2024-03-31 09526883 core:OfficeEquipment 2024-03-31 09526883 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 09526883
Jones Subsea Ltd
Filleted Unaudited Financial Statements
31 March 2024
Jones Subsea Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
278
435
Investments
5
6,269
6,222
-------
-------
6,547
6,657
Current assets
Debtors
6
57
276
Cash at bank and in hand
21,307
46,291
--------
--------
21,364
46,567
Creditors: amounts falling due within one year
7
462
450
--------
--------
Net current assets
20,902
46,117
--------
--------
Total assets less current liabilities
27,449
52,774
Creditors: amounts falling due after more than one year
8
266
685
--------
--------
Net assets
27,183
52,089
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
27,083
51,989
--------
--------
Shareholders funds
27,183
52,089
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Jones Subsea Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 October 2024 , and are signed on behalf of the board by:
Mr D Jones
Director
Company registration number: 09526883
Jones Subsea Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Cryd y Castell, Denbigh, Denbighshire, LL16 4PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
3,406
3,406
-------
-------
Depreciation
At 1 April 2023
2,971
2,971
Charge for the year
157
157
-------
-------
At 31 March 2024
3,128
3,128
-------
-------
Carrying amount
At 31 March 2024
278
278
-------
-------
At 31 March 2023
435
435
-------
-------
5. Investments
Other investments other than loans
£
Cost
At 1 April 2023
6,852
Transfers
31
-------
At 31 March 2024
6,883
-------
Impairment
At 1 April 2023
630
Reversal of impairment losses
( 16)
-------
At 31 March 2024
614
-------
Carrying amount
At 31 March 2024
6,269
-------
At 31 March 2023
6,222
-------
6. Debtors
2024
2023
£
£
Other debtors
57
276
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12
Other creditors
450
450
----
----
462
450
----
----
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
266
685
----
----
9. Related party transactions
The company was under the control of Mr D. Jones throughout the current year. Mr D. Jones is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.