Company No: SC256136 (Scotland)

Contents

• Company Information
• Accountant's Report
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTOR	Adrian Michael Todd
REGISTERED OFFICE	C/O Acumen Accountants And Advisors Limited Bankhead Drive
	City South Office Park
	Portlethen
	Aberdeen
	AB12 4XX
	Scotland
	United Kingdom
COMPANY NUMBER	SC256136(Scotland)
ACCOUNTANT	Acumen Accountants & Advisors Limited
	Bankhead Drive
	City South Office Park
	Portlethen
	Aberdeen
	AB12 4XX

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Toddrill Services Limited for the financial year ended 05 April 2020 which comprises the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at _http://www.accaglobal.com/rulebook_.

It is your duty to ensure that Toddrill Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Toddrill Services Limited. You consider that Toddrill Services Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Toddrill Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Toddrill Services Limited, as a body, in accordance with the terms of our engagement letter dated 02 August 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Toddrill Services Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at _http://www.accaglobal.com/factsheet163_. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toddrill Services Limited and its Director as a body for our work or for this report.

Acumen Accountants & Advisors Limited
Accountants

Bankhead Drive
City South Office Park
Portlethen
Aberdeen
AB12 4XX

13 March 2021

		05.04.2020		05.04.2019
	Note	£		£
Fixed assets
Investments	4	169,042		222,316
		169,042		222,316
Current assets
Debtors	5	18,900		17,640
Cash at bank and in hand	6	110,685		73,017
		129,585		90,657
Creditors
Amounts falling due within one year	7	( 26,971)		( 32,423)
Net current assets		102,614		58,234
Total assets less current liabilities		271,656		280,550
Provisions for liabilities		( 661)		( 10,784)
Net assets		270,995		269,766
Capital and reserves
Called-up share capital	8	100		100
Fair value reserve		36,171		33,353
Profit and loss account		234,724		236,313
Total shareholder's funds		270,995		269,766

For the financial year ending 05 April 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Toddrill Services Limited (registered number: SC256136) were approved and authorised for issue by the Director on 13 March 2021. They were signed on its behalf by:

Adrian Michael Todd Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Toddrill Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Acumen Accountants And Advisors Limited Bankhead Drive, City South Office Park, Portlethen, Aberdeen, AB12 4XX, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Toddrill Services Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable excluding discounts, rebates, value added tax and other sales taxes.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

.

2. Employees

	05.04.2020	05.04.2019
	Number	Number
Monthly average number of persons employed by the Company during the year, including director	1	1

3. Dividends on equity shares

	05.04.2020	05.04.2019
	£	£
Amounts recognised as distributions to equity holders in the financial period:
Final dividend for the financial year ended 05 April 2020 of £910.31 (05.04.2019: £662.42) per ordinary share	91,031	66,242
	91,031	66,242

4. Fixed asset investments

	Other investments	Total
	£	£
Carrying value before impairment
At 06 April 2019	222,316	222,316
Additions	1,691	1,691
Disposals	( 1,686)	( 1,686)
Movement in fair value	( 53,279)	( 53,279)
At 05 April 2020	169,042	169,042
Provisions for impairment
At 06 April 2019	0	0
At 05 April 2020	0	0
Carrying value at 05 April 2020	169,042	169,042
Carrying value at 05 April 2019	222,316	222,316

5. Debtors

	05.04.2020	05.04.2019
	£	£
Trade debtors	18,900	17,640
	18,900	17,640

6. Cash and cash equivalents

	05.04.2020	05.04.2019
	£	£
Cash at bank and in hand	110,685	73,017
	110,685	73,017

7. Creditors: amounts falling due within one year

	05.04.2020	05.04.2019
	£	£
Trade creditors	341	242
Accruals	0	1,935
Corporation tax	17,943	23,083
Other taxation and social security	8,687	7,163
	26,971	32,423

8. Called-up share capital and reserves

	05.04.2020	05.04.2019
	£	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (05.04.2019: 100 shares of £ 1.00 each)	100	100
	100	100

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

10. Ultimate controlling party

The ultimate controlling party is A Todd.