Registered number
SC507478
Subsea Mechanical Solutions Ltd
Report and Accounts
30 June 2024
Subsea Mechanical Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Debtors 2024 2023
£ £
Other debtors - -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,655 5,899
Corporation tax 9,281 13,182
Other creditors 2,821 6,471
22,757 25,552
5 Other information
Subsea Mechanical Solutions Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
27 Claremont Place
Aberdeen
AB10 6RE
Subsea Mechanical Solutions Ltd
Registered number: SC507478
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Other Debtors 3 - -
Cash at bank and in hand 16,849 20,523
16,849 20,523
Creditors: amounts falling due within one year 4 (22,757) (25,552)
Net current liabilities (5,908) (5,029)
Net liabilities (5,908) (5,029)
Capital and reserves
Called up share capital 1 1
Profit and loss account (5,909) (5,030)
Shareholders' funds (5,908) (5,029)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G.Quigg
Director
Approved by the board on 13 March 2025
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