IRIS Accounts Production v24.3.0.553 SC317787 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3177872023-03-31SC3177872024-03-31SC3177872023-04-012024-03-31SC3177872022-03-31SC3177872022-04-012023-03-31SC3177872023-03-31SC317787ns15:Scotland2023-04-012024-03-31SC317787ns14:PoundSterling2023-04-012024-03-31SC317787ns10:Director12023-04-012024-03-31SC317787ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC317787ns10:SmallEntities2023-04-012024-03-31SC317787ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC317787ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC317787ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC317787ns10:FullAccounts2023-04-012024-03-31SC317787ns10:CompanySecretary12023-04-012024-03-31SC317787ns10:RegisteredOffice2023-04-012024-03-31SC317787ns5:CurrentFinancialInstruments2024-03-31SC317787ns5:CurrentFinancialInstruments2023-03-31SC317787ns5:ShareCapital2024-03-31SC317787ns5:ShareCapital2023-03-31SC317787ns5:RetainedEarningsAccumulatedLosses2024-03-31SC317787ns5:RetainedEarningsAccumulatedLosses2023-03-31SC317787ns5:FurnitureFittings2023-04-012024-03-31SC317787ns5:ComputerEquipment2023-04-012024-03-31SC317787ns5:FurnitureFittings2023-03-31SC317787ns5:ComputerEquipment2023-03-31SC317787ns5:FurnitureFittings2024-03-31SC317787ns5:ComputerEquipment2024-03-31SC317787ns5:FurnitureFittings2023-03-31SC317787ns5:ComputerEquipment2023-03-31SC317787ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC317787ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: SC317787 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

SUBSEA UMBILICAL ENGINEERING
SERVICES LTD

SUBSEA UMBILICAL ENGINEERING
SERVICES LTD (REGISTERED NUMBER: SC317787)






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 UMBILICAL ENGINEERING
SERVICES LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P M Boylan





SECRETARY: Grant Smith Law Practice Ltd





REGISTERED OFFICE: Amicable House
252 Union Street
Aberdeen
AB10 1TN





REGISTERED NUMBER: SC317787 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

SUBSEA UMBILICAL ENGINEERING
SERVICES LTD (REGISTERED NUMBER: SC317787)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,520 1,614

CURRENT ASSETS
Debtors 5 9,309 4,558
Cash at bank 31,272 48,411
40,581 52,969
CREDITORS
Amounts falling due within one year 6 33,580 30,680
NET CURRENT ASSETS 7,001 22,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,521

23,903

CAPITAL AND RESERVES
Called up share capital 175 175
Retained earnings 8,346 23,728
SHAREHOLDERS' FUNDS 8,521 23,903

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 director acknowledges his 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 director and authorised for issue on 14 November 2024 and were signed by:




P M Boylan - Director


SUBSEA UMBILICAL ENGINEERING
SERVICES LTD (REGISTERED NUMBER: SC317787)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Subsea Umbilical Engineering Services Ltd 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.
Fixtures and fittings - 15% on cost
Computer equipment - 15% 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 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.

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 1 (2023 - 1 ) .

SUBSEA UMBILICAL ENGINEERING
SERVICES LTD (REGISTERED NUMBER: SC317787)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 475 5,323 5,798
Additions - 266 266
At 31 March 2024 475 5,589 6,064
DEPRECIATION
At 1 April 2023 475 3,709 4,184
Charge for year - 360 360
At 31 March 2024 475 4,069 4,544
NET BOOK VALUE
At 31 March 2024 - 1,520 1,520
At 31 March 2023 - 1,614 1,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Directors' current accounts 1,615 1,138
Prepayments and accrued income 7,694 3,420
9,309 4,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1 (1 )
Tax 23,608 22,740
Social security and other taxes 400 437
VAT 9,571 7,504
33,580 30,680