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Company Registration No. 06192021 (England and Wales)
24-7 DIAMOND DRILLING & SAWING SERVICES LTD Unaudited accounts for the year ended 30 April 2023
24-7 DIAMOND DRILLING & SAWING SERVICES LTD Unaudited accounts Contents
Page
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24-7 DIAMOND DRILLING & SAWING SERVICES LTD Company Information for the year ended 30 April 2023
Director
DAVID WHITBREAD
Secretary
MISS JANE TAYLOR
Company Number
06192021 (England and Wales)
Registered Office
11 WENTWORTH ROAD HEATHFIELD INDUSTRIAL ESTATE NEWTON ABBOT DEVON TQ12 6TL
Accountants
MCADAM & CO LTD 36 Highglen Drive Plymouth PL7 5LA
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24-7 DIAMOND DRILLING & SAWING SERVICES LTD Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
8,832 
13,248 
Tangible assets
700,291 
661,932 
709,123 
675,180 
Current assets
Inventories
79,485 
84,361 
Debtors
161,350 
126,328 
Cash at bank and in hand
275 
105,957 
241,110 
316,646 
Creditors: amounts falling due within one year
(368,672)
(355,547)
Net current liabilities
(127,562)
(38,901)
Total assets less current liabilities
581,561 
636,279 
Creditors: amounts falling due after more than one year
(175,426)
(183,114)
Provisions for liabilities
Deferred tax
(54,394)
(57,385)
Net assets
351,741 
395,780 
Capital and reserves
Called up share capital
5 
5 
Profit and loss account
351,736 
395,775 
Shareholders' funds
351,741 
395,780 
For the year ending 30 April 2023 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 26 September 2023 and were signed on its behalf by
DAVID WHITBREAD Director Company Registration No. 06192021
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24-7 DIAMOND DRILLING & SAWING SERVICES LTD Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
24-7 DIAMOND DRILLING & SAWING SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 06192021. The registered office is 11 WENTWORTH ROAD, HEATHFIELD INDUSTRIAL ESTATE, NEWTON ABBOT, DEVON, TQ12 6TL.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% RB
Motor vehicles
18% RB
Fixtures & fittings
6% RB
Computer equipment
100%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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24-7 DIAMOND DRILLING & SAWING SERVICES LTD Notes to the Accounts for the year ended 30 April 2023
Pension costs
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2022
73,600 
At 30 April 2023
73,600 
Amortisation
At 1 May 2022
60,352 
Charge for the year
4,416 
At 30 April 2023
64,768 
Net book value
At 30 April 2023
8,832 
At 30 April 2022
13,248 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2022
264,862 
781,790 
229,294 
1,459 
8,020 
1,285,425 
Additions
- 
62,917 
116,996 
- 
534 
180,447 
Revaluations
- 
- 
(48,150)
- 
- 
(48,150)
Disposals
- 
(31,800)
(36,250)
- 
- 
(68,050)
At 30 April 2023
264,862 
812,907 
261,890 
1,459 
8,554 
1,349,672 
Depreciation
At 1 May 2022
- 
494,864 
119,150 
1,459 
8,020 
623,493 
Charge for the year
- 
31,805 
32,751 
- 
534 
65,090 
Surplus on revaluation
- 
- 
(48,150)
- 
- 
(48,150)
On disposals
- 
- 
8,948 
- 
- 
8,948 
At 30 April 2023
- 
526,669 
112,699 
1,459 
8,554 
649,381 
Net book value
At 30 April 2023
264,862 
286,238 
149,191 
- 
- 
700,291 
At 30 April 2022
264,862 
286,926 
110,144 
- 
- 
661,932 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
31,091 
- 
Trade debtors
129,759 
125,747 
Accrued income and prepayments
500 
581 
161,350 
126,328 
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24-7 DIAMOND DRILLING & SAWING SERVICES LTD Notes to the Accounts for the year ended 30 April 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
48,999 
26,703 
Obligations under finance leases and hire purchase contracts
48,879 
45,066 
Trade creditors
91,102 
77,598 
Taxes and social security
20,305 
44,425 
Loans from directors
157,387 
159,755 
Accruals
2,000 
2,000 
368,672 
355,547 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
101,196 
123,278 
Obligations under finance leases and hire purchase contracts
74,230 
59,836 
175,426 
183,114 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
5 Ordinary shares of £1 each
5 
5 
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 April 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
2 
Later than one year and not later than five years
5 
5 
5 
7 
11
Guarantees provided on behalf of directors
Maximum Liability Under Guarantees 
Amount paid and liability incurred 
£ 
£ 
DAVID WHITBREAD
Lloyds Bank
40,000 
- 
40,000 
- 
It is a long standing guarantee predating the purchase of commercial property.
12
Average number of employees
During the year the average number of employees was 24 (2022: 24).
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