REGISTERED NUMBER: 14788800 (England and Wales)

DIVE MARGATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B A Vorono

Miss K L Fleck

REGISTERED OFFICE:

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

REGISTERED NUMBER:

14788800 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Intangible assets

4

16,000

18,000

Tangible assets

5

8,230

7,995

24,230

25,995

CURRENT ASSETS

Stocks

4,000

4,000

Debtors

6

19,461

16,744

Cash at bank and in hand

36,567

12,219

60,028

32,963

CREDITORS

Amounts falling due within one year

7

(89,108

)

(64,141

)

NET CURRENT LIABILITIES

(29,080

)

(31,178

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,850

)

(5,183

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,950

)

(5,283

)

(4,850

)

(5,183

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 June 2026 and were signed on its behalf by:

Mr B A Vorono - Director

Miss K L Fleck - Director

1.	STATUTORY INFORMATION

Dive Margate 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax

Deferred tax is recognised in respect of all 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

20,000

AMORTISATION

At 1 January 2025

2,000

Charge for year

2,000

At 31 December 2025

4,000

NET BOOK VALUE

At 31 December 2025

16,000

At 31 December 2024

18,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

4,700

5,647

10,347

Additions

-

1,535

1,535

At 31 December 2025

4,700

7,182

11,882

DEPRECIATION

At 1 January 2025

-

2,352

2,352

Charge for year

-

1,300

1,300

At 31 December 2025

-

3,652

3,652

NET BOOK VALUE

At 31 December 2025

4,700

3,530

8,230

At 31 December 2024

4,700

3,295

7,995

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Sundry debtors

780

780

Directors' current accounts

18,681

15,964

19,461

16,744

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

44,633

29,860

Trade creditors

8,418

7,177

Corporation Tax

1,991

-

Social security and other taxes

(291

)

267

VAT

26,239

26,769

Sundry creditors

8,118

68

89,108

64,141

8.	GOING CONCERN

As at the balance sheet date the company was insolvent. After careful assessment, including reviewing the company’s current performance, planned strategic initiatives, and available financing options, the Directors are satisfied that the company will be able to continue in operational existence for the foreseeable future.