Xmt Subsea Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC469534 (Scotland)

Unaudited Financial Statements for the Year Ended 5 April 2019

for

Xmt Subsea Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M D Hadden

SECRETARY:

REGISTERED OFFICE:

Sub Depot

Inchmarlo

Banchory

Aberdeenshire

AB31 4AP

REGISTERED NUMBER:

SC469534 (Scotland)

ACCOUNTANTS:

Carnegie Knox (Scotland) Limited

R & A House Woodburn Road

Blackburn

Aberdeen

Aberdeenshire

AB21 0PS

CURRENT ASSETS

Debtors

5

-

535

Cash at bank

107

14

107

549

CREDITORS

Amounts falling due within one year

6

1,809

1,744

NET CURRENT LIABILITIES

(1,702

)

(1,195

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,702

)

(1,195

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

(1,802

)

(1,295

)

(1,702

)

(1,195

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3 July 2019 and were signed by:

M D Hadden - Director

1.	STATUTORY INFORMATION

Xmt 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.

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

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2018

and 5 April 2019

1,944

DEPRECIATION

At 6 April 2018

and 5 April 2019

1,944

NET BOOK VALUE

At 5 April 2019

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Other debtors

-

535

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Taxation and social security

1

1

Other creditors

1,808

1,743

1,809

1,744

7.

RESERVES

Retained

earnings

£

At 6 April 2018

(1,295

)

Deficit for the year

(507

)

At 5 April 2019

(1,802

)