Paul Havard Drilling Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07809320 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PAUL HAVARD DRILLING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P Havard

REGISTERED OFFICE:

Refail Crecrist

Rhos Colyn

Holyhead

Anglesey

LL652EJ

REGISTERED NUMBER:

07809320 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

136,340

96,747

CURRENT ASSETS

Stocks

3,000

2,500

Debtors

5

16,321

27,612

Cash at bank

593,630

537,580

612,951

567,692

CREDITORS

Amounts falling due within one year

6

293,077

263,471

NET CURRENT ASSETS

319,874

304,221

TOTAL ASSETS LESS CURRENT LIABILITIES

456,214

400,968

PROVISIONS FOR LIABILITIES

19,190

18,382

NET ASSETS

437,024

382,586

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

436,924

382,486

SHAREHOLDERS' FUNDS

437,024

382,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:

P Havard - Director

1.	STATUTORY INFORMATION

Paul Havard Drilling Limited is a private company, limited by shares , registered in England and Wales. 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the site investigation work undertaken.

Turnover is usually recongnised once the service has been provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors' loan accounts, trade creditors and accruals and are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments

Taxation

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

300,644

Additions

82,740

Disposals

(15,041

)

At 31 March 2023

368,343

DEPRECIATION

At 1 April 2022

203,897

Charge for year

40,051

Eliminated on disposal

(11,945

)

At 31 March 2023

232,003

NET BOOK VALUE

At 31 March 2023

136,340

At 31 March 2022

96,747

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

2,828

9,281

Other debtors

13,493

18,331

16,321

27,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

11,158

37,104

Taxation and social security

23,535

17,505

Other creditors

258,384

208,862

293,077

263,471