2023-04-012024-03-312024-03-31false04699387SOVEREIGN DIVING 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SOVEREIGN DIVING LIMITED

Registered Number
04699387
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SOVEREIGN DIVING LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

DOUGLAS, Andrew Charles Stanley
DOUGLAS, Toby Ian Charlton

Registered Address

36 St. Aidans
Seahouses
NE68 7SS

Registered Number

04699387 (England and Wales)
SOVEREIGN DIVING LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets938,527763,236
938,527763,236
Current assets
Debtors401,679210,036
Cash at bank and on hand436,333277,588
838,012487,624
Creditors amounts falling due within one year3(410,731)(93,288)
Net current assets (liabilities)427,281394,336
Total assets less current liabilities1,365,8081,157,572
Creditors amounts falling due after one year4(41,216)(117,027)
Net assets1,324,5921,040,545
Capital and reserves
Profit and loss account1,324,5921,040,545
Shareholders' funds1,324,5921,040,545
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2024, and are signed on its behalf by:
DOUGLAS, Toby Ian Charlton
Director
Registered Company No. 04699387
SOVEREIGN DIVING LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year1919
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables395,09962,698
Taxation and social security14,23329,247
Accrued liabilities and deferred income1,3991,343
Total410,73193,288
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-117,027
Amounts owed to related parties41,216-
Total41,216117,027