Paul Havard Drilling Limited - Accounts to registrar (filleted) - small 18.1

Paul Havard Drilling Limited - Accounts to registrar (filleted) - small 18.1

PAUL HAVARD DRILLING LIMITED - Company Information

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REGISTERED NUMBER: 07809320 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

PAUL HAVARD DRILLING LIMITED
PAUL HAVARD DRILLING LIMITED (REGISTERED NUMBER: 07809320)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PAUL HAVARD DRILLING LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2017







DIRECTOR: P Havard





SECRETARY:





REGISTERED OFFICE: Refail Crecrist
Rhos Colyn
Holyhead
Anglesey
LL652EJ





REGISTERED NUMBER: 07809320 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB
Page 1
PAUL HAVARD DRILLING LIMITED (REGISTERED NUMBER: 07809320)

STATEMENT OF FINANCIAL POSITION
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 99,837 103,295

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 46,045 50,598
Cash at bank 239,249 382,876
286,294 434,474
CREDITORS
Amounts falling due within one year 6 148,519 355,807
NET CURRENT ASSETS 137,775 78,667
TOTAL ASSETS LESS CURRENT
LIABILITIES
237,612
181,962

PROVISIONS FOR LIABILITIES 18,969 20,659
NET ASSETS 218,643 161,303

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 218,543 161,203
SHAREHOLDERS' FUNDS 218,643 161,303

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 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 director on 30 July 2018 and were signed by:



P Havard - Director


The notes form part of these financial statements

Page 2
PAUL HAVARD DRILLING LIMITED (REGISTERED NUMBER: 07809320)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Paul Havard Drilling 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.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

These financial statements for the year ended 31 October 2017 are the first financial statements that comply with
FRS 102 Section 1A for small entities. The date of transition is 1 November 2015.

Turnover
Turnover represents the value of site investigation work undertaken in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and straight line over 3 years

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

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts,
trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors' loan
accounts, trade creditors and accruals and are measured initially and subsequently at the undiscounted amount of
the cash or other consideration that is expected to be paid or received.

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 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.


Page 3 continued...
PAUL HAVARD DRILLING LIMITED (REGISTERED NUMBER: 07809320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2016 200,788
Additions 44,624
Disposals (28,250 )
At 31 October 2017 217,162
DEPRECIATION
At 1 November 2016 97,493
Charge for year 26,770
Eliminated on disposal (6,938 )
At 31 October 2017 117,325
NET BOOK VALUE
At 31 October 2017 99,837
At 31 October 2016 103,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 44,460 49,987
Other debtors 1,585 611
46,045 50,598

Page 4 continued...
PAUL HAVARD DRILLING LIMITED (REGISTERED NUMBER: 07809320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 11,533 43,080
Taxation and social security 35,428 20,810
Other creditors 101,558 291,917
148,519 355,807

7. FIRST YEAR ADOPTION

There are no transitional adjustments to report on the first year adoption of FRS 102 Section 1A.

Page 5