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REGISTERED NUMBER: SC737805 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

PHOENIX SUBSEA DEVELOPMENTS LTD

PHOENIX SUBSEA DEVELOPMENTS LTD (REGISTERED NUMBER: SC737805)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX SUBSEA DEVELOPMENTS LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: A P Walker
Mrs S A Walker





REGISTERED OFFICE: First Floor, 5 Abercrombie Court
Prospect Road
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC737805 (Scotland)





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

PHOENIX SUBSEA DEVELOPMENTS LTD (REGISTERED NUMBER: SC737805)

Balance Sheet
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,131 1,539

CURRENT ASSETS
Debtors 5 13,788 18,579
Cash at bank 55,757 38,888
69,545 57,467
CREDITORS
Amounts falling due within one year 6 40,396 27,644
NET CURRENT ASSETS 29,149 29,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,280

31,362

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 31,180 31,262
31,280 31,362

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

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

PHOENIX SUBSEA DEVELOPMENTS LTD (REGISTERED NUMBER: SC737805)

Balance Sheet - continued
31 JULY 2024


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 7 January 2025 and were signed on its behalf by:




A P Walker - Director



Mrs S A Walker - Director


PHOENIX SUBSEA DEVELOPMENTS LTD (REGISTERED NUMBER: SC737805)

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

1. STATUTORY INFORMATION

Phoenix Subsea Developments 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.

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.

3. EMPLOYEES AND DIRECTORS

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

PHOENIX SUBSEA DEVELOPMENTS LTD (REGISTERED NUMBER: SC737805)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 2,057
Additions 1,477
At 31 July 2024 3,534
DEPRECIATION
At 1 August 2023 518
Charge for year 885
At 31 July 2024 1,403
NET BOOK VALUE
At 31 July 2024 2,131
At 31 July 2023 1,539

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 13,788 13,901
Other debtors - 4,678
13,788 18,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 1,149 274
Taxation and social security 38,950 27,158
Other creditors 297 212
40,396 27,644