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REGISTERED NUMBER: 10108972 (England and Wales)















DRILLCUT (UK) HOLDINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






DRILLCUT (UK) HOLDINGS LIMITED (REGISTERED NUMBER: 10108972)






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


DRILLCUT (UK) HOLDINGS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: P R Goodfield





REGISTERED OFFICE: Unit 2 & 3
Bowling Hill Business Park
Chipping Sodbury
Bristol
Avon
BS37 6JL





REGISTERED NUMBER: 10108972 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

DRILLCUT (UK) HOLDINGS LIMITED (REGISTERED NUMBER: 10108972)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 394,936 102,706
Cash at bank and in hand 63,764 339,204
458,700 441,910
CREDITORS
Amounts falling due within one year 5 - 39,710
NET CURRENT ASSETS 458,700 402,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,700

402,200

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 458,500 402,000
458,700 402,200

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.

DRILLCUT (UK) HOLDINGS LIMITED (REGISTERED NUMBER: 10108972)

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 9 October 2023 and were signed by:





P R Goodfield - Director


DRILLCUT (UK) HOLDINGS LIMITED (REGISTERED NUMBER: 10108972)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Drillcut (UK) Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

DRILLCUT (UK) HOLDINGS LIMITED (REGISTERED NUMBER: 10108972)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Amounts owed by group undertakings 292,454 -
Directors' current accounts 102,270 102,494
Prepayments 212 212
394,936 102,706

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 39,710

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
P R Goodfield
Balance outstanding at start of year 102,494 56,000
Amounts advanced 140,276 183,494
Amounts repaid (140,500 ) (137,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 102,270 102,494

7. ULTIMATE CONTROLLING PARTY

Mr & Mrs Goodfield are the ultimate controlling party.