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REGISTERED NUMBER: SC449520 (Scotland)












Financial Statements for the Year Ended 30 April 2025

for

BALMEDIE SUBSEA LTD

BALMEDIE SUBSEA LTD (REGISTERED NUMBER: SC449520)






Contents of the Financial Statements
for the Year Ended 30 April 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BALMEDIE SUBSEA LTD

Company Information
for the Year Ended 30 April 2025







DIRECTORS: J Smith
I Smith





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC449520 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

BALMEDIE SUBSEA LTD (REGISTERED NUMBER: SC449520)

Balance Sheet
30 April 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,396 660

CURRENT ASSETS
Debtors 5 20,964 -
Cash at bank 160,814 155,320
181,778 155,320
CREDITORS
Amounts falling due within one year 6 31,436 31,749
NET CURRENT ASSETS 150,342 123,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,738

124,231

PROVISIONS FOR LIABILITIES 11,453 165
NET ASSETS 189,285 124,066

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 189,283 124,064
SHAREHOLDERS' FUNDS 189,285 124,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.

BALMEDIE SUBSEA LTD (REGISTERED NUMBER: SC449520)

Balance Sheet - continued
30 April 2025


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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2025 and were signed on its behalf by:





J Smith - Director


BALMEDIE SUBSEA LTD (REGISTERED NUMBER: SC449520)

Notes to the Financial Statements
for the Year Ended 30 April 2025

1. STATUTORY INFORMATION

Balmedie Subsea 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.

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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

BALMEDIE SUBSEA LTD (REGISTERED NUMBER: SC449520)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2025

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2024 - - 3,221 3,221
Additions 360 52,990 - 53,350
At 30 April 2025 360 52,990 3,221 56,571
DEPRECIATION
At 1 May 2024 - - 2,561 2,561
Charge for year 23 3,312 279 3,614
At 30 April 2025 23 3,312 2,840 6,175
NET BOOK VALUE
At 30 April 2025 337 49,678 381 50,396
At 30 April 2024 - - 660 660

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 20,964 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 30,313 30,929
Other creditors 1,123 820
31,436 31,749

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2024 - £50,019) were paid to the directors .

The company was under the control of directors, J Smith and I Smith, throughout the current and previous year.

During the year the directors advanced the company net amounts totalling £303. As at 30 April 2025, included within other creditors, is a balance outstanding due to the directors of £303. (2024 - £Nil). No interest was paid on this loan.