Downhole Engineering Services Limited - Limited company accounts 16.3

REGISTERED NUMBER: SC394269 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2016

for

Downhole Engineering Services Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

D Jenner

REGISTERED OFFICE:

10 Westhill Grange

Westhill

AB32 6QJ

REGISTERED NUMBER:

SC394269 (Scotland)

ACCOUNTANTS:

JDD Chartered Accountants

5 Rubislaw Terrace

Aberdeen

AB10 1XE

The director presents his report with the financial statements of the company for the year ended 30 April 2016.

DIRECTOR

D Jenner held office during the whole of the period from 1 May 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D Jenner - Director

24 January 2017

TURNOVER

2,400

13,425

Cost of sales

1,500

2,240

GROSS PROFIT

900

11,185

Administrative expenses

15,322

15,048

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION

2

(14,422

)

(3,863

)

Tax on loss on ordinary activities

3

-

(574

)

LOSS FOR THE FINANCIAL YEAR

(14,422

)

(3,289

)

CURRENT ASSETS

Debtors

6

3,506

13,584

Cash at bank

28,639

27,718

32,145

41,302

CREDITORS

Amounts falling due within one year

7

22,421

4,156

NET CURRENT ASSETS

9,724

37,146

TOTAL ASSETS LESS CURRENT LIABILITIES

9,724

37,146

CAPITAL AND RESERVES

Called up share capital

8

1

1

Profit and loss account

9

9,723

37,145

SHAREHOLDERS' FUNDS

9,724

37,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 24 January 2017 and were signed by:

D Jenner - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

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

Deferred tax

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

sheet date.

2.	OPERATING LOSS

The operating loss is stated after charging:

30.4.16

30.4.15

£

£

Depreciation - owned assets

-

80

Director's remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax credit

The tax credit on the loss on ordinary activities for the year was as follows:

30.4.16

30.4.15

£

£

Current tax:

Prior year adjustment

-

(574

)

Tax on loss on ordinary activities

-

(574

)

4.

DIVIDENDS

30.4.16

30.4.15

£

£

Ordinary share of 1

Final

13,000

6,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2015

and 30 April 2016

350

DEPRECIATION

At 1 May 2015

and 30 April 2016

350

NET BOOK VALUE

At 30 April 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.16

30.4.15

£

£

Trade debtors

2,880

12,273

Other debtors

626

1,311

3,506

13,584

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.16

30.4.15

£

£

Taxation and social security

2,354

2,906

Other creditors

20,067

1,250

22,421

4,156

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

£

1

Ordinary

1

1

1

9.

RESERVES

Profit

and loss

account

£

At 1 May 2015

37,145

Deficit for the year

(14,422

)

Dividends

(13,000

)

At 30 April 2016

9,723

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £13,000 were paid to the director .

The director operates a current account with the company and this was £18,816.94 in credit at 30 April 2016.

(2015: £684.61 in debit)