Al Subsea Engineering Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC402311 (Scotland)

Financial Statements

for the Year Ended 30 September 2023

for

Al Subsea Engineering Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Leclerc

REGISTERED OFFICE:

42 Queens Road

Aberdeen

AB15 4YE

REGISTERED NUMBER:

SC402311 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Tangible assets

4

136

275

CURRENT ASSETS

Debtors

5

13,074

19,953

Cash at bank

5,634

13,693

18,708

33,646

CREDITORS

Amounts falling due within one year

6

18,998

29,403

NET CURRENT (LIABILITIES)/ASSETS

(290

)

4,243

TOTAL ASSETS LESS CURRENT LIABILITIES

(154

)

4,518

PROVISIONS FOR LIABILITIES

26

52

NET (LIABILITIES)/ASSETS

(180

)

4,466

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(280

)

4,366

SHAREHOLDERS' FUNDS

(180

)

4,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:

Mr A Leclerc - Director

1.	STATUTORY INFORMATION

Al Subsea Engineering 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.

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

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2022

and 30 September 2023

5,816

DEPRECIATION

At 1 October 2022

5,541

Charge for year

139

At 30 September 2023

5,680

NET BOOK VALUE

At 30 September 2023

136

At 30 September 2022

275

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade debtors

12,693

19,883

Other debtors

381

70

13,074

19,953

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Taxation and social security

14,138

27,361

Other creditors

4,860

2,042

18,998

29,403

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to / (from) a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23

30.9.22

£

£

Mr A Leclerc

Balance outstanding at start of year

(66

)

(84

)

Amounts advanced

493

2,537

Amounts repaid

(2,650

)

(2,519

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,223

)

(66

)

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Leclerc.