Registration number:
K T Drilling Consultants Limited
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
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2022 |
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Creditors: Amounts falling due within one year |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' deficit |
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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:
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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
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K T Drilling Consultants Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
Recognition and measurement
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Creditors |
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2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Accruals |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Other borrowings |
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Related party transactions |
Summary of transactions with other related parties