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REGISTERED NUMBER: SC305837 (Scotland)












Financial Statements for the Year Ended 30 June 2023

for

LOK WELL SERVICES LTD

LOK WELL SERVICES LTD (REGISTERED NUMBER: SC305837)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOK WELL SERVICES LTD

Company Information
for the Year Ended 30 June 2023







DIRECTOR: SR Lockhart





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC305837 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

LOK WELL SERVICES LTD (REGISTERED NUMBER: SC305837)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 226,755 226,427

CURRENT ASSETS
Debtors 5 40 34
Cash at bank 60,647 59,906
60,687 59,940
CREDITORS
Amounts falling due within one year 6 127,947 133,603
NET CURRENT LIABILITIES (67,260 ) (73,663 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,495

152,764

PROVISIONS FOR LIABILITIES 137 75
NET ASSETS 159,358 152,689

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 159,258 152,589
SHAREHOLDERS' FUNDS 159,358 152,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

LOK WELL SERVICES LTD (REGISTERED NUMBER: SC305837)

Balance Sheet - continued
30 June 2023


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2023 and were signed by:





SR Lockhart - Director


LOK WELL SERVICES LTD (REGISTERED NUMBER: SC305837)

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

1. STATUTORY INFORMATION

LOK Well Services Ltd 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

LOK WELL SERVICES LTD (REGISTERED NUMBER: SC305837)

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

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 July 2022 226,033 4,840 230,873
Additions - 499 499
At 30 June 2023 226,033 5,339 231,372
DEPRECIATION
At 1 July 2022 - 4,446 4,446
Charge for year - 171 171
At 30 June 2023 - 4,617 4,617
NET BOOK VALUE
At 30 June 2023 226,033 722 226,755
At 30 June 2022 226,033 394 226,427

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 40 34

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,800 54,043
Taxation and social security 1,502 1,083
Other creditors 76,645 78,477
127,947 133,603

7. RELATED PARTY DISCLOSURES

The company was under the control of SR Lockhart, the director, throughout the current and previous year.

During the year the company repaid the director net amounts totalling £1,832. As at 30 June 2023, included within other creditors, is a balance outstanding to the director of £75,985 (2022 - £77,817). No interest has been paid on this loan.