Horne Subsea Engineering (Ellon) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC386582 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

HORNE SUBSEA ENGINEERING (ELLON) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Horne

SECRETARY:

Mrs J E Horne

REGISTERED OFFICE:

First Floor, 5 Abercrombie Court

Prospect Road, Arnhall Business Park

Westhill

Aberdeenshire

AB32 6FE

REGISTERED NUMBER:

SC386582 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Tangible assets

4

1,324

110

CURRENT ASSETS

Debtors

5

8,602

7,330

Cash at bank

231,496

210,759

240,098

218,089

CREDITORS

Amounts falling due within one year

6

17,515

15,788

NET CURRENT ASSETS

222,583

202,301

TOTAL ASSETS LESS CURRENT LIABILITIES

223,907

202,411

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

223,807

202,311

SHAREHOLDERS' FUNDS

223,907

202,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 director on 3 February 2020 and were signed by:

D Horne - Director

1.	STATUTORY INFORMATION

Horne Subsea Engineering (Ellon) Limited 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.

Computer equipment

-

15% on cost

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 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2018

1,099

Additions

1,557

At 31 October 2019

2,656

DEPRECIATION

At 1 November 2018

989

Charge for year

343

At 31 October 2019

1,332

NET BOOK VALUE

At 31 October 2019

1,324

At 31 October 2018

110

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

4,692

5,864

Prepayments and accrued income

3,910

1,466

8,602

7,330

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

1

-

Tax

14,573

12,463

Social security and other taxes

-

10

VAT

2,752

3,150

Directors' current accounts

189

165

17,515

15,788