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REGISTERED NUMBER: 01348889 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SUBAQUA PRO LIMITED

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUBAQUA PRO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: T A Smith
Mrs K M Smith
G T Smith
Miss M D Smith
Mrs M L Boyton-Quinion
D J C Smith





SECRETARY: Mrs K M Smith





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 01348889 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,337,478 1,963,525

CURRENT ASSETS
Debtors 5 3,244 23,832
Cash at bank 45,653 25,067
48,897 48,899
CREDITORS
Amounts falling due within one year 6 63,695 46,193
NET CURRENT (LIABILITIES)/ASSETS (14,798 ) 2,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,322,680

1,966,231

CREDITORS
Amounts falling due after more than one
year

7

(143,387

)

(202,935

)

PROVISIONS FOR LIABILITIES (2,313 ) (2,444 )
NET ASSETS 2,176,980 1,760,852

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Share premium 144,942 144,942
Retained earnings 2,027,038 1,610,910
SHAREHOLDERS' FUNDS 2,176,980 1,760,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 27 June 2025 and were signed on its behalf by:





T A Smith - Director


SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Subaqua Pro 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on cost
Motor vehicles - 25% on reducing balance

The freehold property includes investment property and has not been depreciated. Although this represents a departure from the requirements of the Companies Act 2006, the property has not been depreciated on the grounds that the residual value is likely to at least equate to its historic cost, and any charge for depreciation would therefore be negligible. In the opinion of the directors, the accounting treatment does not therefore depart from the requirement of the accounts to show a true and fair view. The directors also believe that following the most recent revaluation the current market value of the investment property approximates to the value at which it is stated in the accounts, and that any further revaluation to market value at the Balance Sheet date would be negligible.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 December 2023 1,948,355 34,489 22,912 11,691 2,017,447
Additions - - 1,609 3,500 5,109
Revaluations 375,000 - - - 375,000
At 30 November 2024 2,323,355 34,489 24,521 15,191 2,397,556
DEPRECIATION
At 1 December 2023 - 27,705 17,976 8,241 53,922
Charge for year - 1,696 2,723 1,737 6,156
At 30 November 2024 - 29,401 20,699 9,978 60,078
NET BOOK VALUE
At 30 November 2024 2,323,355 5,088 3,822 5,213 2,337,478
At 30 November 2023 1,948,355 6,784 4,936 3,450 1,963,525

Cost or valuation at 30 November 2024 is represented by:

Freehold Plant and Computer Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
Valuation in 1999 342,567 - - - 342,567
Valuation in 2013 964,070 - - - 964,070
Valuation in 2024 375,000 - - - 375,000
Cost 641,718 34,489 24,521 15,191 715,919
2,323,355 34,489 24,521 15,191 2,397,556

On 4 April 2024 a revaluation of the company's Chiswick property was undertaken by Kingsbury Investment & Development Group valuing the said property on an open market basis at £2,150,000. This resulted in an uplift of £375,000. The directors consider the valuation at which the freehold property is currently stated is a true and fair reflection of it's open market value at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors - 11,185
Other debtors 1,646 5,640
Directors' current accounts - 5,600
Prepayments 1,598 1,407
3,244 23,832

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 12,837 5,396
Corporation tax 9,993 7,733
Social security and other taxes 14,850 -
Other creditors 10,424 10,424
Directors' current accounts 12,731 19,900
Accrued expenses 2,860 2,740
63,695 46,193

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Group undertakings 143,387 202,935

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
T A Smith and Mrs K M Smith
Balance outstanding at start of year (18,513 ) 11,467
Amounts advanced 21,426 61,022
Amounts repaid (15,644 ) (91,002 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,731 ) (18,513 )

G T Smith
Balance outstanding at start of year (243 ) (243 )
Amounts advanced 243 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (243 )

Miss M D Smith
Balance outstanding at start of year (1 ) 9,199
Amounts advanced 1 -
Amounts repaid - (9,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (1 )

SUBAQUA PRO LIMITED (REGISTERED NUMBER: 01348889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D J C Smith
Balance outstanding at start of year (1,143 ) (1,143 )
Amounts advanced 1,143 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (1,143 )

Mrs M L Boyton-Quinion
Balance outstanding at start of year 5,600 (4,100 )
Amounts advanced 3,680 9,700
Amounts repaid (9,280 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,600

9. RELATED PARTY DISCLOSURES

During the year the company was controlled by Mr T A Smith and Mrs K M Smith by virtue of the fact that they owned 100% of the issued share capital of the holding company, Taspro Limited.