T A Drilling (Sales) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06444154 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

T A DRILLING (SALES) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Benford

Mr J W Styles

Mr D Bell

SECRETARY:

Mrs M A Benford

REGISTERED OFFICE:

93 Bohemia Road

St Leonards On Sea

East Sussex

TN37 6RJ

REGISTERED NUMBER:

06444154 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Sellens French) LLP

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

4

66,314

58,835

CURRENT ASSETS

Stocks

5

1,309,038

1,349,730

Debtors

6

390,053

546,110

Cash at bank and in hand

1,010,982

677,760

2,710,073

2,573,600

CREDITORS

Amounts falling due within one year

7

1,378,535

1,401,891

NET CURRENT ASSETS

1,331,538

1,171,709

TOTAL ASSETS LESS CURRENT LIABILITIES

1,397,852

1,230,544

PROVISIONS FOR LIABILITIES

8

12,600

11,767

NET ASSETS

1,385,252

1,218,777

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

1,385,152

1,218,677

SHAREHOLDERS' FUNDS

1,385,252

1,218,777

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 7 February 2018 and were signed on its behalf by:

Mr P J Benford - Director

1.	STATUTORY INFORMATION

T A Drilling (Sales) 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 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

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

moving items.

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 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.

HIRE PURCHASE AND LEASING COMMITMENTS

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 year was 10 (2016 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 August 2016

34,860

5,303

83,521

123,684

Additions

2,323

-

18,725

21,048

Disposals

(1,175

)

-

-

(1,175

)

At 31 July 2017

36,008

5,303

102,246

143,557

Depreciation

At 1 August 2016

15,982

3,653

45,214

64,849

Charge for year

2,975

248

9,967

13,190

Eliminated on disposal

(796

)

-

-

(796

)

At 31 July 2017

18,161

3,901

55,181

77,243

Net book value

At 31 July 2017

17,847

1,402

47,065

66,314

At 31 July 2016

18,878

1,650

38,307

58,835

5.

STOCKS

2017

2016

£

£

Finished goods

1,309,038

1,349,730

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

374,894

541,201

Prepayments and accrued income

15,159

4,909

390,053

546,110

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

355,153

399,053

Amounts owed to participating interests

811,128

811,128

Tax

53,684

45,407

Social security and other taxes

7,076

5,494

VAT

19,991

13,485

Other creditors

-

407

Directors' current accounts

84,000

-

Accruals and deferred income

47,503

126,917

1,378,535

1,401,891

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

12,600

11,767

Deferred

tax

£

Balance at 1 August 2016

11,767

Provided during year

833

charge for the year

Balance at 31 July 2017

12,600

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 August 2016

1,218,677

Profit for the year

206,475

Dividends

(40,000

)

At 31 July 2017

1,385,152

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P J Benford.

12.	FIRST YEAR ADOPTION

The company has adopted FRS 102 section 1A from 1st August 2016.

The transition has not affected the financial position and performance of the company during the current and

previous year.