Registered number
10898465
Frogsborn Diving Services Ltd
Filleted Accounts
31 August 2024
Frogsborn Diving Services Ltd
Registered number: 10898465
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,020 14,444
Current assets
Stocks 2,000 2,076
Debtors 4 1,445 1,359
Cash at bank and in hand 41,854 46,785
45,299 50,220
Creditors: amounts falling due within one year 5 (16,529) (13,124)
Net current assets 28,770 37,096
Total assets less current liabilities 40,790 51,540
Creditors: amounts falling due after more than one year 6 (7,578) (11,571)
Net assets 33,212 39,969
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,112 39,869
Shareholders' funds 33,212 39,969
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.
R L Frost
Director
Approved by the board on 9 April 2025
Frogsborn Diving Services Ltd
Notes to the Accounts
for the year ended 31 August 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 10,923 25,746 36,669
Additions 995 - 995
At 31 August 2024 11,918 25,746 37,664
Depreciation
At 1 September 2023 7,335 14,890 22,225
Charge for the year 705 2,714 3,419
At 31 August 2024 8,040 17,604 25,644
Net book value
At 31 August 2024 3,878 8,142 12,020
At 31 August 2023 3,588 10,856 14,444
4 Debtors 2024 2023
£ £
Other debtors 1,445 1,359
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,056 6,751
Taxation and social security costs 6,010 5,390
Other creditors 2,463 983
16,529 13,124
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,578 11,571
7 Other information
Frogsborn Diving Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hawarden Industrial Park
Manor Lane
Hawarden
CH5 3QB
Frogsborn Diving Services Ltd 10898465 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 R L Frost No description of principal activity 10898465 2022-09-01 2023-08-31 10898465 core:WithinOneYear 2023-08-31 10898465 core:AfterOneYear 2023-08-31 10898465 core:ShareCapital 2023-08-31 10898465 core:RetainedEarningsAccumulatedLosses 2023-08-31 10898465 2023-09-01 2024-08-31 10898465 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10898465 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10898465 bus:Director40 2023-09-01 2024-08-31 10898465 1 2023-09-01 2024-08-31 10898465 2 2023-09-01 2024-08-31 10898465 core:PlantMachinery 2023-09-01 2024-08-31 10898465 core:Vehicles 2023-09-01 2024-08-31 10898465 countries:England 2023-09-01 2024-08-31 10898465 bus:FRS102 2023-09-01 2024-08-31 10898465 bus:FilletedAccounts 2023-09-01 2024-08-31 10898465 2024-08-31 10898465 core:WithinOneYear 2024-08-31 10898465 core:AfterOneYear 2024-08-31 10898465 core:ShareCapital 2024-08-31 10898465 core:RetainedEarningsAccumulatedLosses 2024-08-31 10898465 core:PlantMachinery 2024-08-31 10898465 core:Vehicles 2024-08-31 10898465 2023-08-31 10898465 core:PlantMachinery 2023-08-31 10898465 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure