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
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Company Information
for the year ended 30 April 2023
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
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Statement of financial position
as at 30 April 2023
Intangible assets
8,832
13,248
Tangible assets
700,291
661,932
Cash at bank and in hand
275
105,957
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
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
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
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 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.
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2023
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
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
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
At 30 April 2023
264,862
286,238
149,191
-
-
700,291
At 30 April 2022
264,862
286,926
110,144
-
-
661,932
Amounts falling due within one year
Trade debtors
129,759
125,747
Accrued income and prepayments
500
581
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
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
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
11
Guarantees provided on behalf of directors
Maximum Liability Under Guarantees
Amount paid and liability incurred
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).