Downhole Engineering Services Ltd - Limited company accounts 11.4

REGISTERED NUMBER: SC394269 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2014

for

Downhole Engineering Services Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

D Jenner

REGISTERED OFFICE:

10 Westhill Grange

Westhill

AB32 6QJ

REGISTERED NUMBER:

SC394269 (Scotland)

ACCOUNTANTS:

JDD Chartered Accountants

5 Rubislaw Terrace

Aberdeen

AB10 1XE

The director presents his report with the financial statements of the company for the year ended 30 April 2014.

DIRECTOR

D Jenner held office during the whole of the period from 1 May 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

D Jenner - Director

4 August 2014

TURNOVER

50,998

19,995

Cost of sales

2,700

4,194

GROSS PROFIT

48,298

15,801

Administrative expenses

16,850

14,968

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

31,448

833

Tax on profit on ordinary activities

3

6,413

290

PROFIT FOR THE FINANCIAL YEAR

25,035

543

FIXED ASSETS

Tangible assets

4

80

119

CURRENT ASSETS

Debtors

5

9,180

3,690

Cash at bank

54,705

21,699

63,885

25,389

CREDITORS

Amounts falling due within one year

6

17,530

4,108

NET CURRENT ASSETS

46,355

21,281

TOTAL ASSETS LESS CURRENT LIABILITIES

46,435

21,400

CAPITAL AND RESERVES

Called up share capital

7

1

1

Profit and loss account

8

46,434

21,399

SHAREHOLDERS' FUNDS

46,435

21,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 4 August 2014 and were signed by:

D Jenner - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.14

30.4.13

£

£

Depreciation - owned assets

39

115

Director's remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.4.14

30.4.13

£

£

Current tax:

UK corporation tax

6,403

290

Prior year adjustment

10

-

Tax on profit on ordinary activities

6,413

290

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2013

and 30 April 2014

350

DEPRECIATION

At 1 May 2013

231

Charge for year

39

At 30 April 2014

270

NET BOOK VALUE

At 30 April 2014

80

At 30 April 2013

119

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.14

30.4.13

£

£

Trade debtors

9,180

3,216

Other debtors

-

474

9,180

3,690

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.14

30.4.13

£

£

Bank loans and overdrafts

62

-

Trade creditors

1

1,102

Taxation and social security

9,452

290

Other creditors

8,015

2,716

17,530

4,108

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

1

Ordinary

1

1

1

8.

RESERVES

Profit

and loss

account

£

At 1 May 2013

21,399

Profit for the year

25,035

At 30 April 2014

46,434

9.	RELATED PARTY DISCLOSURES

The director operates a current account with the company and this was £6,766 in credit at 30 April 2014.