Downhole Engineering Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC394269 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2023

for

Downhole Engineering Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Jenner

REGISTERED OFFICE:

10 Westhill Grange

Westhill

AB32 6QJ

REGISTERED NUMBER:

SC394269 (Scotland)

ACCOUNTANTS:

JDD Chartered Accountants

19 Hillcroft Road

Banchory

Kincardineshire

AB31 5TF

CURRENT ASSETS

Debtors

5

22,523

1,895

Cash at bank

208,505

177,253

231,028

179,148

CREDITORS

Amounts falling due within one year

6

49,511

48,334

NET CURRENT ASSETS

181,517

130,814

TOTAL ASSETS LESS CURRENT LIABILITIES

181,517

130,814

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

181,516

130,813

SHAREHOLDERS' FUNDS

181,517

130,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 January 2024 and were signed by:

D Jenner - Director

1.	STATUTORY INFORMATION

Downhole Engineering Services Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

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

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 and 25% on cost

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2022

and 30 April 2023

853

DEPRECIATION

At 1 May 2022

and 30 April 2023

853

NET BOOK VALUE

At 30 April 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

22,523

1,895

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Taxation and social security

29,505

26,733

Other creditors

20,006

21,601

49,511

48,334

7.	RELATED PARTY DISCLOSURES

The director operates a current account with the company and this was £18,755 in credit at 30 April 2023 (2022: £20,351 in credit).

During the year, dividends totalling £1,000 were paid to the director.