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REGISTERED NUMBER: SC545299 (Scotland)












Financial Statements for the Year Ended 31 August 2024

for

JDV SUBSEA LTD

JDV SUBSEA LTD (REGISTERED NUMBER: SC545299)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JDV SUBSEA LTD

Company Information
for the Year Ended 31 August 2024







DIRECTOR: JD Valentine





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC545299 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

JDV SUBSEA LTD (REGISTERED NUMBER: SC545299)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,833 11,989

CURRENT ASSETS
Stocks 9,910 17,500
Debtors 5 15,542 15,506
Cash at bank 42,451 42,567
67,903 75,573
CREDITORS
Amounts falling due within one year 6 18,202 34,942
NET CURRENT ASSETS 49,701 40,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,534

52,620

PROVISIONS FOR LIABILITIES 1,206 2,278
NET ASSETS 60,328 50,342

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 60,327 50,341
SHAREHOLDERS' FUNDS 60,328 50,342

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

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

JDV SUBSEA LTD (REGISTERED NUMBER: SC545299)

Balance Sheet - continued
31 August 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





JD Valentine - Director


JDV SUBSEA LTD (REGISTERED NUMBER: SC545299)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

JDV Subsea 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.
Plant and machinery - 25% on cost and 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

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.

JDV SUBSEA LTD (REGISTERED NUMBER: SC545299)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 40,066 1,826 1,224 43,116
Additions 6,750 - - 6,750
At 31 August 2024 46,816 1,826 1,224 49,866
DEPRECIATION
At 1 September 2023 28,820 1,524 783 31,127
Charge for year 6,721 75 110 6,906
At 31 August 2024 35,541 1,599 893 38,033
NET BOOK VALUE
At 31 August 2024 11,275 227 331 11,833
At 31 August 2023 11,246 302 441 11,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,542 15,386
Other debtors - 120
15,542 15,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,962 2,231
Taxation and social security 9,299 9,401
Other creditors 6,941 23,310
18,202 34,942

7. RELATED PARTY DISCLOSURES

The company was under control of the director, JD Valentine, throughout the current and previous year.

During the year the company repaid the director net amounts totalling £13,789. As at 31 August 2024 included within other creditors is a balance outstanding due to the director of £6,211 (2023 - £20,000). No interest has been paid on this loan.