Northern Divers (Holdings) Limited
Registered number: 01325342
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,169,593 1,245,473
Investments 4 365,731 343,518
1,535,324 1,588,991
Current assets
Debtors 5 87,795 104,903
Cash at bank and in hand 465,344 558,609
553,139 663,512
Creditors: amounts falling due within one year 6 (280,047) (459,161)
Net current assets 273,092 204,351
Total assets less current liabilities 1,808,416 1,793,342
Provisions for liabilities (108,588) (126,772)
Net assets 1,699,828 1,666,570
Capital and reserves
Called up share capital 9,100 9,100
Profit and loss account 1,690,728 1,657,470
Shareholders' funds 1,699,828 1,666,570
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.
J. A. Sparrowe
Director
Approved by the board on 10 June 2025
Northern Divers (Holdings) Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Freehold buildings not depreciated
Plant and machinery 10% on reducing balance
Motor vehicles 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 685,958 1,187,738 523,120 2,396,816
Additions - 17,830 22,887 40,717
Disposals - (45,692) (37,826) (83,518)
At 31 March 2025 685,958 1,159,876 508,181 2,354,015
Depreciation
At 1 April 2024 - 845,833 305,510 1,151,343
Charge for the year - 34,014 59,195 93,209
On disposals - (26,026) (34,104) (60,130)
At 31 March 2025 - 853,821 330,601 1,184,422
Net book value
At 31 March 2025 685,958 306,055 177,580 1,169,593
At 31 March 2024 685,958 341,905 217,610 1,245,473
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2024 2 343,516 343,518
Change in market value - 22,213 22,213
At 31 March 2025 2 365,729 365,731
5 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 87,795 104,903
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 40,172
Corporation tax 49,198 7,452
Other taxes and social security costs 10,784 3,507
Other creditors 220,065 408,030
280,047 459,161
7 Controlling party
The company was controlled during the current and previous financial years by Mrs. J. E. Sparrowe, by virtue of the fact she owns 60% of the company's ordinary shares.
8 Other information
Northern Divers (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Francis House
Humber Place
The Marina
Hull
HU1 1UD
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