K T Drilling Consultants Limited 03498297 true 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of an oil drilling consultancy Digita Accounts Production Advanced 6.30.9574.0 true K Mantle S Mantle true 03498297 2022-07-01 2023-06-30 03498297 2023-06-30 03498297 core:RetainedEarningsAccumulatedLosses 2023-06-30 03498297 core:ShareCapital 2023-06-30 03498297 core:CurrentFinancialInstruments 2023-06-30 03498297 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03498297 bus:FRS102 2022-07-01 2023-06-30 03498297 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 03498297 bus:FullAccounts 2022-07-01 2023-06-30 03498297 bus:RegisteredOffice 2022-07-01 2023-06-30 03498297 bus:CompanySecretary1 2022-07-01 2023-06-30 03498297 bus:Director2 2022-07-01 2023-06-30 03498297 bus:EntityNoLongerTradingButTradedInPast 2022-07-01 2023-06-30 03498297 bus:Consolidated 2022-07-01 2023-06-30 03498297 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03498297 core:OtherRelatedParties 2022-07-01 2023-06-30 03498297 countries:EnglandWales 2022-07-01 2023-06-30 03498297 2021-07-01 2022-06-30 03498297 2022-06-30 03498297 core:RetainedEarningsAccumulatedLosses 2022-06-30 03498297 core:ShareCapital 2022-06-30 03498297 core:CurrentFinancialInstruments 2022-06-30 03498297 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 03498297

K T Drilling Consultants Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

K T Drilling Consultants Limited

Profit and Loss Account for the Year Ended 30 June 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

K T Drilling Consultants Limited

(Registration number: 03498297)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Creditors: Amounts falling due within one year

4

(14,759)

(14,759)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(14,761)

(14,761)

Shareholders' deficit

 

(14,759)

(14,759)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 October 2023
 

K Mantle
Director

   
     
 

K T Drilling Consultants Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Suffolk Villas
Suffolk Road
Cheltenham
Gloucestershire
GL50 2AX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

The going concern basis of accounting has been used to prepare the financial statements. The director considers this appropriate as she will continue to provide support for the foreseeable future and will not draw down on the directors loan account until the company commences trading.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies..

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

K T Drilling Consultants Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

5

14,369

14,369

Accruals

 

390

390

 

14,759

14,759

5

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

14,369

14,369

6

Related party transactions

Summary of transactions with other related parties

At 30 June 2023 the company owed £14,369 (2022: £14,369) to the director in the form of a directors' loan account. There are no fixed terms for repayment and no interest is accruing on the loan.