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REGISTERED NUMBER: SC803328 (Scotland)


















Unaudited Financial Statements

for the Period 18 March 2024 to 31 December 2024

for

Atlantic Subsea Marine Ltd

Atlantic Subsea Marine Ltd (Registered number: SC803328)






Contents of the Financial Statements
for the Period 18 March 2024 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Atlantic Subsea Marine Ltd

Company Information
for the Period 18 March 2024 to 31 December 2024







DIRECTORS: R J J Kirkpatrick
R Wareberg
A Apeland





REGISTERED OFFICE: 13a Dalhousie Street
Carnoustie
Angus
DD7 6EH





REGISTERED NUMBER: SC803328 (Scotland)





ACCOUNTANTS: JDD Chartered Accountants
19 Hillcroft Road
Banchory
Kincardineshire
AB31 5TF

Atlantic Subsea Marine Ltd (Registered number: SC803328)

Balance Sheet
31 December 2024

Notes £   
CURRENT ASSETS
Debtors 4 74
Cash at bank 9,350
9,424
CREDITORS
Amounts falling due within one year 5 2,735
NET CURRENT ASSETS 6,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,689

CREDITORS
Amounts falling due after more than one
year

6

12,254
NET LIABILITIES (5,565 )

CAPITAL AND RESERVES
Called up share capital 10,000
Retained earnings (15,565 )
SHAREHOLDERS' FUNDS (5,565 )

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

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

Atlantic Subsea Marine Ltd (Registered number: SC803328)

Balance Sheet - continued
31 December 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 9 April 2025 and were signed on its behalf by:




A Apeland - Director



R Wareberg - Director


Atlantic Subsea Marine Ltd (Registered number: SC803328)

Notes to the Financial Statements
for the Period 18 March 2024 to 31 December 2024

1. STATUTORY INFORMATION

Atlantic Subsea Marine 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.

Taxation
Taxation for the period 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 period 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 period was NIL.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 74

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 835
Other creditors 1,900
2,735

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 12,254

Atlantic Subsea Marine Ltd (Registered number: SC803328)

Notes to the Financial Statements - continued
for the Period 18 March 2024 to 31 December 2024

7. RELATED PARTY DISCLOSURES

The company was formed to ensure compliance with the law when Group ships are working in UK waters. To help with this, the company subcontracts this work to Oceanum Ltd, a UK company wholly owned by Mr R J J Kirkpatrick who is a director of this company.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Atlantic Offshore AS, a company registered in Norway.

Atlantic Subsea Marine Ltd

Report of the Accountants to the Directors of
Atlantic Subsea Marine Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

Report to the Directors on the preparation of the unaudited statutory accounts of Atlantic Subsea Marine Ltd for the period ended 31 December 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, We have prepared for your approval the accounts of Atlantic Subsea Marine Limited for the period ended 31 December 2024 as set out on pages 2 to 6 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Atlantic Subsea Marine Ltd and its Board of Directors as a body for our work for this report.

It is your duty to ensure that Atlantic Subsea Marine Limited has kept adequate accounting records to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Atlantic Subsea Marine Limited. You consider Atlantic Subsea Marine Limited is exempt from the statutory audit requirement for the period..

We have not been instructed to carry out an audit or review of the accounts of Atlantic Subsea Marine 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 of the statutory accounts.






JDD Chartered Accountants
19 Hillcroft Road
Banchory
Kincardineshire
AB31 5TF


9 April 2025