Drillingdown Its Ltd - Accounts

Drillingdown Its Ltd - Accounts

DRILLINGDOWN ITS LTD - Company Information

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Registered Number: 13290160
England and Wales

 

 

 

DRILLINGDOWN ITS LTD


Abridged Accounts
 


Period of accounts

Start date: 24 March 2021

End date: 31 March 2022

Drillingdown Its Ltd
Contents Page
For the period ended 31 March 2022
Accountants report

You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
RCi Chartered Accountants and Business Advisors
Windsor House
9-15 Adelaide Street
Luton
LU1 5BJ
23 March 2023
1
 
 		 Notes
 		 2022
£
Current assets    
Stocks 4,230 
Cash at bank and in hand 2,004 
6,234 
Creditors: amount falling due within one year (1,508)
Net current assets 4,726 
 
Total assets less current liabilities 4,726 
Net assets 4,726 
 

Capital and reserves 		   
Called up share capital 1 
Profit and loss account 4,725 
Shareholder's funds 4,726 
 


For the period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 March 2023 and were signed by:


--------------------------------
Muhammad Alam
Director
2
General Information
Drillingdown Its Ltd is a private company, limited by shares, registered in England and Wales, registration number 13290160, registration address 7 High Street, Swanley, Kent, BR8 8AE .

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Share Capital

Allotted, called up and fully paid
2022
£
1 Class A share of £1.00 each 1 
1 

3