DRILLSTONE_LIMITED - Accounts

DRILLSTONE LTD - Company Information

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Company Registration No. 07203093 (England and Wales)

DRILLSTONE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2014

DRILLSTONE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

DRILLSTONE LIMITED

ABBREVIATED BALANCE SHEET

AS AT 31 MARCH 2014

- 1 -

2014

2013

Notes

Current assets

Stocks

1,500

Debtors

195

100

Cash at bank and in hand

1,093

3,325

2,788

4,925

Creditors: amounts falling due within one year

(21,000)

Total assets less current liabilities

(18,212)

(16,075)

Capital and reserves

Called up share capital

100

Profit and loss account

(18,312)

(16,175)

Shareholders' funds

(18,212)

(16,075)

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of these financial statements in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the 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 accounts, so far as applicable to the company.

These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board for issue on 16 October 2014

P R Klimt

G A Naggar

Director

Company Registration No. 07203093

DRILLSTONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, as the directors have confirmed that funds will continue to be made available from related undertakings to enable it to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that might result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Stock

Stock is valued at the lower of cost and net realisable value.

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Share capital

2014

2013

Allotted, called up and fully paid

200 Ordinary shares of 50p each

100