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Company Registration No. NI674099 (Northern Ireland)
South Derry Well Drilling Ltd Unaudited accounts for the year ended 30 November 2022
South Derry Well Drilling Ltd Unaudited accounts Contents
Page
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South Derry Well Drilling Ltd Company Information for the year ended 30 November 2022
Director
William John Campbell
Secretary
William John Campbell
Company Number
NI674099 (Northern Ireland)
Registered Office
61d Main Street Maghera County Londonderry BT46 5AB United Kingdom
Accountants
McGrath Pattison Ltd 61d Main Street Maghera Londonderry BT46 5AB
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South Derry Well Drilling Ltd Statement of financial position as at 30 November 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
168,324 
91,751 
Current assets
Inventories
45,250 
45,250 
Debtors
- 
11,910 
Cash at bank and in hand
11,837 
16,356 
57,087 
73,516 
Creditors: amounts falling due within one year
(176,547)
(92,506)
Net current liabilities
(119,460)
(18,990)
Total assets less current liabilities
48,864 
72,761 
Creditors: amounts falling due after more than one year
(47,663)
(57,375)
Net assets
1,201 
15,386 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,101 
15,286 
Shareholders' funds
1,201 
15,386 
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 August 2023 and were signed on its behalf by
William John Campbell Director Company Registration No. NI674099
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South Derry Well Drilling Ltd Notes to the Accounts for the year ended 30 November 2022
1
Statutory information
South Derry Well Drilling Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI674099. The registered office is 61d Main Street, Maghera, County Londonderry, BT46 5AB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 November 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 December 2020. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2021
101,945 
Additions
95,275 
At 30 November 2022
197,220 
Depreciation
At 1 December 2021
10,194 
Charge for the year
18,702 
At 30 November 2022
28,896 
Net book value
At 30 November 2022
168,324 
At 30 November 2021
91,751 
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South Derry Well Drilling Ltd Notes to the Accounts for the year ended 30 November 2022
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
11,910 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
10,269 
5,211 
Trade creditors
30,467 
38,851 
Loans from directors
135,811 
48,444 
176,547 
92,506 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Other creditors
47,663 
57,375 
8
Average number of employees
During the year the average number of employees was 4 (2021: 4).
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