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REGISTERED NUMBER: 10809617 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2022

for

SIS Drill (UK) Ltd

SIS Drill (UK) Ltd (Registered number: 10809617)






Contents of the Financial Statements
for the Year Ended 30 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIS Drill (UK) Ltd

Company Information
for the Year Ended 30 June 2022







DIRECTORS: Miss H C Goring
E Goring





REGISTERED OFFICE: The Coach House
1 Long Lane
Willoughton
Gainsborough
Lincolnshire
DN21 5SQ





REGISTERED NUMBER: 10809617 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
Unit 1, Sandars Road
Heapham Rd Ind Estate
Gainsborough
Lincolnshire
DN21 1RZ

SIS Drill (UK) Ltd (Registered number: 10809617)

Balance Sheet
30 June 2022

30.6.22 30.6.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,327 84,438

CURRENT ASSETS
Debtors 5 211,695 109,323
Cash at bank and in hand 44,788 47,573
256,483 156,896
CREDITORS
Amounts falling due within one year 6 208,942 170,010
NET CURRENT ASSETS/(LIABILITIES) 47,541 (13,114 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,868

71,324

CREDITORS
Amounts falling due after more than one
year

7

(84,070

)

(41,032

)

PROVISIONS FOR LIABILITIES (26,852 ) (16,670 )
NET ASSETS 77,946 13,622

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 77,846 13,522
SHAREHOLDERS' FUNDS 77,946 13,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

SIS Drill (UK) Ltd (Registered number: 10809617)

Balance Sheet - continued
30 June 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 2 September 2022 and were signed on its behalf by:





Miss H C Goring - Director


SIS Drill (UK) Ltd (Registered number: 10809617)

Notes to the Financial Statements
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

SIS Drill (UK) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% 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.

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.

SIS Drill (UK) Ltd (Registered number: 10809617)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2021 70,335 7,258 48,740 1,585 127,918
Additions 62,614 - 22,074 305 84,993
At 30 June 2022 132,949 7,258 70,814 1,890 212,911
DEPRECIATION
At 1 July 2021 20,162 3,307 18,690 1,321 43,480
Charge for year 26,362 593 783 366 28,104
At 30 June 2022 46,524 3,900 19,473 1,687 71,584
NET BOOK VALUE
At 30 June 2022 86,425 3,358 51,341 203 141,327
At 30 June 2021 50,173 3,951 30,050 264 84,438

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2021 - 39,740 39,740
Additions 58,114 - 58,114
At 30 June 2022 58,114 39,740 97,854
DEPRECIATION
At 1 July 2021 - 17,562 17,562
Charge for year 15,435 - 15,435
At 30 June 2022 15,435 17,562 32,997
NET BOOK VALUE
At 30 June 2022 42,679 22,178 64,857
At 30 June 2021 - 22,178 22,178

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Trade debtors 211,067 109,323
Other debtors 371 -
Tax 257 -
211,695 109,323

SIS Drill (UK) Ltd (Registered number: 10809617)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,427 12,263
Trade creditors 29,169 44,793
Tax 25,479 11,710
Social security and other taxes 35,507 37,328
VAT 80,687 50,141
Other creditors 190 -
Directors' current accounts 1,165 165
Accrued expenses 11,318 3,610
208,942 170,010

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.22 30.6.21
£    £   
Bank loans - 2-5 years 29,302 39,167
Hire purchase contracts 54,768 1,865
84,070 41,032

8. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors by virtue of family shareholdings. At the year end the directors were owed £1,165 by the company, (2021, £165).