Registration number:
POD Subsea Contractors Limited
for the Year Ended 31 July 2024
POD Subsea Contractors Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
POD Subsea Contractors Limited
Company Information
Director |
Mr Peter O'Doherty |
Registered office |
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Accountants |
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POD Subsea Contractors Limited
Director's Report for the Year Ended 31 July 2024
The director presents his report and the financial statements for the year ended 31 July 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is marine contracting
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
POD Subsea Contractors Limited
for the Year Ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of POD Subsea Contractors Limited for the year ended 31 July 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of POD Subsea Contractors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of POD Subsea Contractors Limited and state those matters that we have agreed to state to the Board of Directors of POD Subsea Contractors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than POD Subsea Contractors Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that POD Subsea Contractors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of POD Subsea Contractors Limited. You consider that POD Subsea Contractors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of POD Subsea Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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1 Aldersyde
Taynuilt
Argyll
PA35 1AG
POD Subsea Contractors Limited
Profit and Loss Account for the Year Ended 31 July 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating loss |
(347) |
(4,396) |
|
Loss before tax |
( |
( |
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
POD Subsea Contractors Limited
Statement of Comprehensive Income for the Year Ended 31 July 2024
2024 |
2023 |
|
Loss for the year |
( |
( |
Total comprehensive income for the year |
( |
( |
POD Subsea Contractors Limited
(Registration number: SC666683)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(2,366) |
(2,019) |
|
Shareholders' deficit |
(2,266) |
(1,919) |
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
POD Subsea Contractors Limited
Statement of Changes in Equity for the Year Ended 31 July 2024
Share capital |
Retained earnings |
Total |
|
At 1 August 2023 |
|
( |
( |
Loss for the year |
- |
( |
( |
At 31 July 2024 |
|
( |
( |
Share capital |
Retained earnings |
Total |
|
At 1 August 2022 |
|
|
|
Loss for the year |
- |
( |
( |
At 31 July 2023 |
100 |
(2,019) |
(1,919) |
POD Subsea Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
POD Subsea Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Debtors |
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Other creditors |
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |