Downhole Engineering Services Limited - Limited company accounts 18.2

REGISTERED NUMBER: SC394269 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Downhole Engineering Services Limited

Page

Company Information

1

Report of the Director

2

Income Statement

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

Aberdeenshire

AB10 1XE

The director presents his report with the financial statements of the company for the year ended 30 April 2018.

DIRECTOR

D Jenner held office during the whole of the period from 1 May 2017 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

29 January 2019

TURNOVER

20,882

4,063

Cost of sales

7,083

2,375

GROSS PROFIT

13,799

1,688

Administrative expenses

3,702

5,378

OPERATING PROFIT/(LOSS)

3

10,097

(3,690

)

Interest receivable and similar income

-

3

PROFIT/(LOSS) BEFORE TAXATION

10,097

(3,687

)

Tax on profit/(loss)

-

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

10,097

(3,687

)

FIXED ASSETS

Tangible assets

4

340

466

CURRENT ASSETS

Debtors

5

11,177

747

Cash at bank

23,623

30,861

34,800

31,608

CREDITORS

Amounts falling due within one year

6

24,006

31,037

NET CURRENT ASSETS

10,794

571

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,134

1,037

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

11,133

1,036

SHAREHOLDERS' FUNDS

11,134

1,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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.

The financial statements were approved by the director on 29 January 2019 and were signed by:

D Jenner - Director

1.	STATUTORY INFORMATION

Downhole Engineering Services Limited is a private company, limited by shares , registered in Scotland. 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 etc

-

33% on cost and 25% on cost

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 balance sheet date.

Deferred tax

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

sheet 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.	OPERATING PROFIT/(LOSS)

The operating profit (2017 - operating loss) is stated after charging:

30.4.18

30.4.17

£

Depreciation - owned assets

126

37

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

853

DEPRECIATION

At 1 May 2017

387

Charge for year

126

At 30 April 2018

513

NET BOOK VALUE

At 30 April 2018

340

At 30 April 2017

466

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

Trade debtors

11,177

528

Other debtors

-

219

11,177

747

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

Bank loans and overdrafts

-

63

Trade creditors

1,836

2,035

Taxation and social security

1,317

-

Other creditors

20,853

28,939

24,006

31,037

7.	RELATED PARTY DISCLOSURES

The director operates a current account with the company and this was £19,602.71 in credit at 30 April 2018

(2017: £27,689 in credit).