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REGISTERED NUMBER: SC564152 (Scotland)












WEST DRILLING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEST DRILLING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: Mr J W Hastie





REGISTERED OFFICE: Trinity House
31 Lynedoch Street
Glasgow
G3 6EF





REGISTERED NUMBER: SC564152 (Scotland)





ACCOUNTANTS: Nicolson Accountancy
Trinity House
31 Lynedoch Street
Glasgow
G3 6EF

WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,247 1,570

CURRENT ASSETS
Debtors 5 113,526 88,500
Cash at bank 95,548 99,228
209,074 187,728
CREDITORS
Amounts falling due within one year 6 37,000 49,704
NET CURRENT ASSETS 172,074 138,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,321

139,594

CREDITORS
Amounts falling due after more than one
year

7

23,981

24,771
NET ASSETS 149,340 114,823

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 8 149,336 114,819
SHAREHOLDERS' FUNDS 149,340 114,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)

BALANCE SHEET - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





Mr J W Hastie - Director


WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

West Drilling Limited 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 4,200 1,199 5,399
DEPRECIATION
At 1 April 2022 2,824 1,005 3,829
Charge for year 275 48 323
At 31 March 2023 3,099 1,053 4,152
NET BOOK VALUE
At 31 March 2023 1,101 146 1,247
At 31 March 2022 1,376 194 1,570

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 22,526 -
Amounts owed by associates 91,000 88,500
113,526 88,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 3,889 7,000
Taxation and social security 31,864 40,725
Other creditors 1,247 1,979
37,000 49,704

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 23,981 24,771

8. RESERVES
Retained
earnings
£   

At 1 April 2022 114,819
Profit for the year 61,517
Dividends (27,000 )
At 31 March 2023 149,336

WEST DRILLING LIMITED (REGISTERED NUMBER: SC564152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

Included in debtors is £91,000 (2023: £91,000) due from Glasgow West Lets Ltd, a company under common control.

The loan is interest free and has no fixed terms for repayment.