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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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SCORPION OCEANICS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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SCORPION OCEANICS LIMITED |
SCORPION OCEANICS LIMITED (REGISTERED NUMBER: 03097009) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SCORPION OCEANICS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
SCORPION OCEANICS LIMITED (REGISTERED NUMBER: 03097009) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the director on
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SCORPION OCEANICS LIMITED (REGISTERED NUMBER: 03097009) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Scorpion Oceanics Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the fair value of consideration received or receivable in relation to the sale of underwater |
cable and connectors for the offshore and nuclear industries excluding, trade discounts and value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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The asset's residual values and useful lives are reviewed, and adjusted, if appropriate at the end of each |
reporting period. The changes are accounted for prospectively. |
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Stocks |
Stocks consist of finished goods and goods held for resale, and are stated at the lower of cost and net realisable |
value. Net realisable value is based on estimated normal selling price, less further costs expected to be incurred |
to disposal. Provision is made for slow moving or defective items where appropriate. |
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Work in progress is valued at selling price less an estimated gross margin. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates an Employer-Financed Retirement Benefits Scheme for key employees, which provides |
benefits on a money purchase basis. The assets of the scheme are held separately from those of the company. |
The contributions payable are charged to the profit and loss account. |
SCORPION OCEANICS LIMITED (REGISTERED NUMBER: 03097009) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
The following operating lease payments are committed to be paid: | 2018 | 2017 |
£ | £ |
Land and buildings | 43,400 | 43,400 |
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Other operating leases | 4,820 | 8,995 |
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Amounts payable in connection with land and buildings are payable on a rolling 12 month basis. |
SCORPION OCEANICS LIMITED (REGISTERED NUMBER: 03097009) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 750 | 750 |
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Ordinary 'A' | £1 | 1 | 1 |
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Ordinary 'B' | £1 | 1 | 1 |
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Ordinary 'C' | £1 | 1 | 1 |
753 | 753 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2018 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2018 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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Scorpion Oceanics Ltd was charged £414,905 (2017: £355,723) in relation to management fees by a company |
which holds a particpating interest. The balance within other creditors at the balance sheet date, due in less |
than one year is £Nil (2017: £522,600). |
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Shown within amounts due from group undertakings within debtors is a balance of £108,543 (2017:£662,401) |
due on a intercompany account from a company which holds a participating interest in the share capital of |
Scorpion Oceanics Ltd. |