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REGISTERED NUMBER: 06720723 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SUBSEA PROJECTS (UK) LIMITED

SUBSEA PROJECTS (UK) LIMITED (REGISTERED NUMBER: 06720723)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUBSEA PROJECTS (UK) LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr J W Littlefair
Mrs S Littlefair





REGISTERED OFFICE: Equinox House
Clifton Park Avenue
Clifton Park Shipton Road
York
North Yorkshire
YO30 5PA





REGISTERED NUMBER: 06720723 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

SUBSEA PROJECTS (UK) LIMITED (REGISTERED NUMBER: 06720723)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 863 744

CURRENT ASSETS
Debtors 5 19,899 16,558
Cash at bank 14,898 58,159
34,797 74,717
CREDITORS
Amounts falling due within one year 6 32,927 71,786
NET CURRENT ASSETS 1,870 2,931
TOTAL ASSETS LESS CURRENT LIABILITIES 2,733 3,675

PROVISIONS FOR LIABILITIES 216 142
NET ASSETS 2,517 3,533

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,417 3,433
2,517 3,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 30 October 2024 and were signed on its behalf by:




Mr J W Littlefair - Director


SUBSEA PROJECTS (UK) LIMITED (REGISTERED NUMBER: 06720723)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Subsea Projects (UK) Limited is a private company, limited by shares , registered in England and Wales. 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.
Fixtures and fittings - 25% on reducing balance

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 balance sheet date.

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.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

SUBSEA PROJECTS (UK) LIMITED (REGISTERED NUMBER: 06720723)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 4,832
Additions 986
Disposals (4,832 )
At 31 March 2024 986
DEPRECIATION
At 1 April 2023 4,088
Charge for year 123
Eliminated on disposal (4,088 )
At 31 March 2024 123
NET BOOK VALUE
At 31 March 2024 863
At 31 March 2023 744

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,899 16,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 14,191 18,707
Other creditors 18,736 53,079
32,927 71,786

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J W Littlefair and Mrs S Littlefair
Balance outstanding at start of year (51,833 ) (10,519 )
Amounts advanced 47,758 12,271
Amounts repaid (13,300 ) (53,585 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,375 ) (51,833 )