Poole Diving Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08920596 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Poole Diving Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K J Craddock

Mr I Craddock

REGISTERED OFFICE:

4a New Quay Road

Dorset

BH154AF

REGISTERED NUMBER:

08920596 (England and Wales)

ACCOUNTANTS:

Northover & Co Accountants Ltd

132A Bournemouth Road

Chandler's Ford

Eastleigh

Hampshire

SO53 3AL

FIXED ASSETS

Tangible assets

4

79,118

42,086

CURRENT ASSETS

Stocks

87,450

89,591

Debtors

9,697

2,982

Cash at bank and in hand

8,097

16,114

105,244

108,687

CREDITORS

Amounts falling due within one year

183,918

143,992

NET CURRENT LIABILITIES

(78,674

)

(35,305

)

TOTAL ASSETS LESS CURRENT LIABILITIES

444

6,781

PROVISIONS FOR LIABILITIES

-

4,915

NET ASSETS

444

1,866

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

344

1,766

SHAREHOLDERS' FUNDS

444

1,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 December 2023 and were signed on its behalf by:

K J Craddock - Director

1.	STATUTORY INFORMATION

Poole Diving Ltd 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.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost and 10% on cost

Boat

-

10% on cost

Motor vehicles

-

15% on reducing balance

Computer equipment

-

50% 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 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

67,361

Additions

49,412

At 31 March 2023

116,773

DEPRECIATION

At 1 April 2022

25,275

Charge for year

12,380

At 31 March 2023

37,655

NET BOOK VALUE

At 31 March 2023

79,118

At 31 March 2022

42,086

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

1

100

100

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr K J Craddock.