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IMPACT SUBSEA LTD

Registered Number
SC498003
(Scotland)

Unaudited Financial Statements for the Year ended
28 February 2025

IMPACT SUBSEA LTD
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors

Benedict Howard David Grant
Alastair Benjamin Mclennan-Murray

Registered Address

Silverfield House Aberdeen Energy Park
Claymore Drive
Aberdeen
AB23 8GD

Registered Number

SC498003 (Scotland)
IMPACT SUBSEA LTD
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3265,780245,051
265,780245,051
Current assets
Stocks348,821263,317
Debtors374,467222,354
Cash at bank and on hand995,701659,748
1,718,9891,145,419
Creditors amounts falling due within one year4(405,816)(299,195)
Net current assets (liabilities)1,313,173846,224
Total assets less current liabilities1,578,9531,091,275
Net assets1,578,9531,091,275
Capital and reserves
Called up share capital1,0001,000
Profit and loss account1,577,9531,090,275
Shareholders' funds1,578,9531,091,275
The financial statements were approved and authorised for issue by the Board of Directors on 3 July 2025, and are signed on its behalf by:
Alastair Benjamin Mclennan-Murray
Director
Benedict Howard David Grant
Director

Registered Company No. SC498003
IMPACT SUBSEA LTD
Notes to the Financial Statements
for the year ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20252024
Average number of employees during the year1412
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 24321,733
Additions47,959
At 28 February 25369,692
Depreciation and impairment
At 01 March 2476,682
Charge for year27,230
At 28 February 25103,912
Net book value
At 28 February 25265,780
At 29 February 24245,051
4.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables229,423148,028
Bank borrowings and overdrafts4,399-
Taxation and social security171,994151,167
Total405,816299,195
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.