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REGISTERED NUMBER: 05282491 (England and Wales)















EDWARDS DIVING SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024






EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EDWARDS DIVING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: P R Edwards
J Edwards
S P Richings





REGISTERED OFFICE: Unit G15
Main Avenue
Treforest Industrial Estate
Pontypridd
Treforest
CF37 5YL





REGISTERED NUMBER: 05282491 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,621,573 3,966,525
Investments 6 346,792 346,792
3,968,365 4,313,317

CURRENT ASSETS
Stocks 31,323 22,800
Debtors 7 1,561,398 876,691
Cash at bank and in hand 667,610 484,675
2,260,331 1,384,166
CREDITORS
Amounts falling due within one year 8 1,033,280 573,226
NET CURRENT ASSETS 1,227,051 810,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,195,416

5,124,257

CREDITORS
Amounts falling due after more than one
year

9

(1,468,278

)

(1,907,180

)

PROVISIONS FOR LIABILITIES (278,037 ) (291,842 )
NET ASSETS 3,449,101 2,925,235

CAPITAL AND RESERVES
Called up share capital 10 15 15
Retained earnings 3,449,086 2,925,220
SHAREHOLDERS' FUNDS 3,449,101 2,925,235

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

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

EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

BALANCE SHEET - continued
31ST 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th April 2025 and were signed on its behalf by:





P R Edwards - Director


EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Edwards Diving Services Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2023 - 50 ) .

EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 32,500
AMORTISATION
At 1st January 2024
and 31st December 2024 32,500
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2024 2,771,622 1,730,675 11,545
Additions - 114,539 -
Disposals (326,241 ) (48,393 ) (496 )
At 31st December 2024 2,445,381 1,796,821 11,049
DEPRECIATION
At 1st January 2024 - 904,672 7,925
Charge for year - 137,265 531
Eliminated on disposal - (22,950 ) (413 )
At 31st December 2024 - 1,018,987 8,043
NET BOOK VALUE
At 31st December 2024 2,445,381 777,834 3,006
At 31st December 2023 2,771,622 826,003 3,620

EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 595,986 50,697 5,160,525
Additions 121,149 10,842 246,530
Disposals (65,294 ) (28,273 ) (468,697 )
At 31st December 2024 651,841 33,266 4,938,358
DEPRECIATION
At 1st January 2024 253,431 27,972 1,194,000
Charge for year 65,932 3,836 207,564
Eliminated on disposal (41,138 ) (20,278 ) (84,779 )
At 31st December 2024 278,225 11,530 1,316,785
NET BOOK VALUE
At 31st December 2024 373,616 21,736 3,621,573
At 31st December 2023 342,555 22,725 3,966,525

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st January 2024
and 31st December 2024 346,792
NET BOOK VALUE
At 31st December 2024 346,792
At 31st December 2023 346,792

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,389,587 718,569
Other debtors 5,161 4,146
Ty Draig Group Limited - 390
Remar Safety Services Limited 19,073 19,073
Prepayments and accrued income 147,577 134,513
1,561,398 876,691

EDWARDS DIVING SERVICES LIMITED (REGISTERED NUMBER: 05282491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 69,012 97,585
Lloyds CBILS loan - 20,000
Trade creditors 398,411 160,141
Corporation Tax 271,326 107,177
Social security and other taxes 89,028 70,842
VAT 185,093 99,460
Other creditors 12,675 10,610
Directors' current accounts 1,109 1,100
Accrued expenses 6,626 6,311
1,033,280 573,226

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Dragon House mortgage - 137,077
Lloyds CBILS loan - 33,333
Lloyds Variable 632,547 862,231
Lloyds Fixed 835,731 874,539
1,468,278 1,907,180

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number Class Nominal 2024 2023
value: £    £   
1,000 Ordinary 1p 10 10
499 Ordinary B 1p 5 5
1 Ordinary C 1p - -

15 15

11. RELATED PARTY DISCLOSURES

The company had the following directors loans at the year end:
- P R Edwards was owed £601 (2023 - £591)
- J Edwards was owed £508 (2023 - £508)

These company was owed £19,073 (2023 - £19,073) by Remar Safety Services Limited a company in which the directors P R Edwards and J Edwards have a controlling interest.