IRIS Accounts Production v23.3.0.418 03980729 Board of Directors 1.5.22 30.4.23 30.4.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure039807292022-04-30039807292023-04-30039807292022-05-012023-04-30039807292021-04-30039807292021-05-012022-04-30039807292022-04-3003980729ns16:EnglandWales2022-05-012023-04-3003980729ns15:PoundSterling2022-05-012023-04-3003980729ns11:Director12022-05-012023-04-3003980729ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3003980729ns11:SmallEntities2022-05-012023-04-3003980729ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3003980729ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3003980729ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3003980729ns11:FullAccounts2022-05-012023-04-3003980729ns11:Director32022-05-012023-04-3003980729ns11:CompanySecretary12022-05-012023-04-3003980729ns11:RegisteredOffice2022-05-012023-04-3003980729ns6:CurrentFinancialInstruments2023-04-3003980729ns6:CurrentFinancialInstruments2022-04-3003980729ns6:Non-currentFinancialInstruments2023-04-3003980729ns6:Non-currentFinancialInstruments2022-04-3003980729ns6:ShareCapital2023-04-3003980729ns6:ShareCapital2022-04-3003980729ns6:RetainedEarningsAccumulatedLosses2023-04-3003980729ns6:RetainedEarningsAccumulatedLosses2022-04-3003980729ns6:PlantMachinery2022-04-3003980729ns6:PlantMachinery2022-05-012023-04-3003980729ns6:PlantMachinery2023-04-3003980729ns6:PlantMachinery2022-04-3003980729ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3003980729ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3003980729ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-04-3003980729ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-04-3003980729ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2023-04-3003980729ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-04-3003980729ns6:HirePurchaseContracts2023-04-3003980729ns6:HirePurchaseContracts2022-04-3003980729ns6:WithinOneYear2023-04-3003980729ns6:WithinOneYear2022-04-3003980729ns6:BetweenOneFiveYears2023-04-3003980729ns6:BetweenOneFiveYears2022-04-3003980729ns6:AllPeriods2023-04-3003980729ns6:AllPeriods2022-04-30039807293ns11:Director32022-04-30039807293ns11:Director32021-04-30039807293ns11:Director32022-05-012023-04-30039807293ns11:Director32021-05-012022-04-30039807293ns11:Director32023-04-30039807293ns11:Director32022-04-3003980729ns11:Director22022-05-012023-04-30039807292ns11:Director22022-04-30039807292ns11:Director22021-04-30039807292ns11:Director22022-05-012023-04-30039807292ns11:Director22021-05-012022-04-30039807292ns11:Director22023-04-30039807292ns11:Director22022-04-30
REGISTERED NUMBER: 03980729 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

DANBAR DRILLING SERVICES LIMITED

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DANBAR DRILLING SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTORS: D Havard
Mrs V L Havard





SECRETARY: Mrs E Havard





REGISTERED OFFICE: Ravens Close Barn
Ravens Close Road
Wennington
Lancashire
LA2 8PA





REGISTERED NUMBER: 03980729 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

STATEMENT OF FINANCIAL POSITION
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 640,698 468,912

CURRENT ASSETS
Debtors 5 282,817 126,657
Cash at bank and in hand 325,644 121,582
608,461 248,239
CREDITORS
Amounts falling due within one year 6 476,350 149,519
NET CURRENT ASSETS 132,111 98,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

772,809

567,632

CREDITORS
Amounts falling due after more than one
year

7

(122,999

)

(172,329

)

PROVISIONS FOR LIABILITIES (175,687 ) (82,503 )
NET ASSETS 474,123 312,800

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 474,023 312,700
SHAREHOLDERS' FUNDS 474,123 312,800

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

STATEMENT OF FINANCIAL POSITION - continued
30 April 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mrs V L Havard - Director


DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Danbar Drilling Services Limited is a private company, limited by shares , registered in England and Wales. 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.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents the amount receivable on the value of services provided, excluding value added tax.

Turnover from the provision of services is recognised when the service has been completed which is usually at the point when the work is certified as complete.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.

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.


Plant and machinery etc. - 15% to 30% on reducing balance and 5% straight line.

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

Financial instruments that are payable or receivable within one year, typically cash at bank, trade debtors, trade creditors, hire purchase agreements, directors' loan accounts and accruals are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be received or paid.

Financial instruments that are payable or receivable in more than one year, typically hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

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 statement of financial position date.


DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Operating lease costs are charged to the income statement as incurred.

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.

Fixed asset investments
Fixed asset investments are stated at cost.

Government grants
Grant income received in respect of the Coronavirus Job Retention Scheme in recognised in the accounting period in which the underlying furloughed staff costs relate to.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 1,018,489
Additions 305,369
Disposals (157,260 )
At 30 April 2023 1,166,598
DEPRECIATION
At 1 May 2022 549,577
Charge for year 87,790
Eliminated on disposal (111,467 )
At 30 April 2023 525,900
NET BOOK VALUE
At 30 April 2023 640,698
At 30 April 2022 468,912

The net book value of tangible fixed assets includes £ 242,226 (2022 - £ 291,218 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 191,023 58,635
Other debtors 91,794 68,022
282,817 126,657

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 49,332 57,799
Trade creditors 380,360 60,385
Taxation and social security 38,289 17,122
Other creditors 8,369 14,213
476,350 149,519

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 122,999 172,329

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 49,332 57,799
Between one and five years 122,999 172,329
172,331 230,128

Non-cancellable operating leases
2023 2022
£    £   
Within one year 10,217 6,406
Between one and five years 28,950 3,203
39,167 9,609

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 172,331 230,128

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
D Havard
Balance outstanding at start of year 22,919 134,085
Amounts advanced 8,085 56,834
Amounts repaid (31,004 ) (168,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 22,919

B T Havard
Balance outstanding at start of year - -
Amounts advanced 3,022 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,022 -

DANBAR DRILLING SERVICES LIMITED (REGISTERED NUMBER: 03980729)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest has been charged on the amount advanced at the official rate of interest. The amount advanced was repaid to the company within nine months of the reporting date.