REGISTERED NUMBER: 06720723 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SUBSEA PROJECTS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J W Littlefair

Mrs S Littlefair

REGISTERED OFFICE:

Equinox House

Clifton Park Avenue

Clifton Park Shipton Road

York

North Yorkshire

YO30 5PA

REGISTERED NUMBER:

06720723 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Tangible assets

4

1,289

863

CURRENT ASSETS

Debtors

5

34,499

19,899

Cash at bank

19,936

14,898

54,435

34,797

CREDITORS

Amounts falling due within one year

6

53,383

32,927

NET CURRENT ASSETS

1,052

1,870

TOTAL ASSETS LESS CURRENT LIABILITIES

2,341

2,733

PROVISIONS FOR LIABILITIES

321

216

NET ASSETS

2,020

2,517

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,920

2,417

2,020

2,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

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

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 8 September 2025 and were signed on its behalf by:

Mr J W Littlefair - Director

1.	STATUTORY INFORMATION

Subsea Projects (UK) 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.

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

-

20% on reducing balance

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 balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

986

Additions

671

At 31 March 2025

1,657

DEPRECIATION

At 1 April 2024

123

Charge for year

245

At 31 March 2025

368

NET BOOK VALUE

At 31 March 2025

1,289

At 31 March 2024

863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

34,471

19,899

Other debtors

28

-

34,499

19,899

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

11,549

14,191

Other creditors

41,834

18,736

53,383

32,927

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr J W Littlefair and Mrs S Littlefair

Balance outstanding at start of year

(17,375

)

(51,833

)

Amounts advanced

23,317

47,758

Amounts repaid

(46,687

)

(13,300

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(40,745

)

(17,375

)