Southern Counties Drilling Solutions Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09873543 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 16 NOVEMBER 2015 TO 31 MARCH 2017

FOR

SOUTHERN COUNTIES DRILLING SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTORS:

J Oak

N G Cooper

REGISTERED OFFICE:

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

REGISTERED NUMBER:

09873543 (England and Wales)

ACCOUNTANTS:

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

61,090

CURRENT ASSETS

Debtors

5

119,800

Cash at bank

22,530

142,330

CREDITORS

Amounts falling due within one year

6

167,417

NET CURRENT LIABILITIES

(25,087

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,003

CREDITORS

Amounts falling due after more than one year

7

(8,620

)

PROVISIONS FOR LIABILITIES

9

(1,033

)

NET ASSETS

26,350

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

26,250

SHAREHOLDERS' FUNDS

26,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 July 2017 and were signed on its behalf by:

J Oak - Director

1.	STATUTORY INFORMATION

Southern Counties Drilling Solutions Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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 period was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

67,868

At 31 March 2017

67,868

DEPRECIATION

Charge for period

6,778

At 31 March 2017

6,778

NET BOOK VALUE

At 31 March 2017

61,090

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

Additions

28,900

At 31 March 2017

28,900

DEPRECIATION

Charge for period

1,204

At 31 March 2017

1,204

NET BOOK VALUE

At 31 March 2017

27,696

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

85,850

Amounts owed by group undertakings

100

VAT

3,882

Prepayments and accrued income

29,968

119,800

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts (see note 8)

13,005

Trade creditors

30,240

Amounts owed to group undertakings

35,000

Corporation tax

5,586

Social security and other taxes

10,264

Other creditors

61,489

Accruals and deferred income

11,833

167,417

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts (see note 8)

8,620

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

£

Gross obligations repayable:

Within one year

13,722

Between one and five years

9,095

22,817

Finance charges repayable:

Within one year

717

Between one and five years

475

1,192

Net obligations repayable:

Within one year

13,005

Between one and five years

8,620

21,625

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

1,033

Deferred

tax

£

Charge to Income Statement during period

1,033

Balance at 31 March 2017

1,033

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .

11.	RELATED PARTY DISCLOSURES

WOODMACE CONCRETE STRUCTURES LIMITED

A subsidiary of Branksome Park Holdings Limited.

During the current period, Southern Counties Drilling Solutions Ltd sold goods and services to

Woodmace Concrete Structures Ltd amounting to £82,935. These transactions were carried out on

normal commercial terms and the amount included in debtors at the balance sheet date amounted to

£52,443.

SPECIALIST PILING SOLUTIONS LIMITED

An associated company of Branksome Park Holdings Limited.

During the current period, Southern Counties Drilling Solutions Ltd sold goods and services to

Specialist Piling Solutions Ltd amounting to £2,784. These transactions were carried out on normal

commercial terms and the amount included in trade debtors at the balance sheet date amounted to

£669.

WOODMACE LIMITED

A company controlled by Mr J Oak

During the current period, Southern Counties Drilling Solutions Ltd sold goods and services to

Woodmace Ltd amounting to £225,220. These transactions were carried out on normal commercial

terms and the amount included in debtors at the balance sheet date amounted to £60,547.

During the current period, Southern Counties Drilling Solutions Ltd purchased goods and services

from Woodmace Ltd amounting to £52,283. These transactions were carried out on normal

commercial terms and the amount included in trade creditors at the balance sheet date amounted to

£1,745.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Woodmace Limited at the balance sheet date amounted to £61,417.

N.C./J.O. HOLDING CO LIMITED

An interim holding company and subsidiary of Branksome Park Holdings Limited

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

N.C./J.O. Holding Co Ltd at the balance sheet date amounted to £50.

BRANKSOME PARK HOLDINGS LIMITED

Ultimate parent company

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Branksome Park Holdings Ltd at the balance sheet date amounted to £50.

WOODMACE PLANT LIMITED

A subsidiary of Branksome Park Holdings Limited

During the current period, Southern Counties Drilling Solutions Ltd purchased goods and services

from Woodmace Plant Ltd amounting to £11,368. These transactions were carried out on normal

commercial terms and the amount included in trade creditors at the balance sheet date amounted to

£2,381.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Woodmace Plant Limited at the balance sheet date amounted to £35,000.

12.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, no individual exercised ultimate control throughout the current period.

In the opinion of the directors, Branksome Park Holdings Ltd was regarded as the company's parent

company and ultimate parent company throughout the current period.

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Southern Counties Drilling Solutions Ltd for the period ended

31 March 2017 which comprise the Income Statement, Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Southern Counties Drilling Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southern Counties Drilling Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Southern Counties Drilling Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southern Counties Drilling Solutions Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Southern Counties Drilling Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southern Counties Drilling Solutions Ltd. You consider that Southern Counties Drilling Solutions Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Southern Counties Drilling Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

27 July 2017