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REGISTERED NUMBER: SC353518 (Scotland)












Financial Statements for the Year Ended 31 December 2023

for

RB WELL SERVICES LTD

RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RB WELL SERVICES LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: RA Brown
P Brown





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC353518 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,905 23,591

CURRENT ASSETS
Debtors 5 8,022 9,563
Cash at bank 71,157 33,988
79,179 43,551
CREDITORS
Amounts falling due within one year 6 30,144 21,894
NET CURRENT ASSETS 49,035 21,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,940

45,248

CREDITORS
Amounts falling due after more than one
year

7

-

(6,645

)

PROVISIONS FOR LIABILITIES (2,624 ) (3,655 )
NET ASSETS 64,316 34,948

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 64,216 34,848
SHAREHOLDERS' FUNDS 64,316 34,948

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

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

RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)

Balance Sheet - continued
31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:





RA Brown - Director


RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)

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

1. STATUTORY INFORMATION

RB Well Services Ltd 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 581 38,422 2,693 41,696
DEPRECIATION
At 1 January 2023 544 14,695 2,866 18,105
Charge for year 9 5,931 (254 ) 5,686
At 31 December 2023 553 20,626 2,612 23,791
NET BOOK VALUE
At 31 December 2023 28 17,796 81 17,905
At 31 December 2022 37 23,727 (173 ) 23,591

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 38,422
DEPRECIATION
At 1 January 2023 14,695
Charge for year 5,931
At 31 December 2023 20,626
NET BOOK VALUE
At 31 December 2023 17,796
At 31 December 2022 23,727

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,975 9,425
Other debtors 47 138
8,022 9,563

RB WELL SERVICES LTD (REGISTERED NUMBER: SC353518)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,215 2,215
Taxation and social security 20,719 13,990
Other creditors 7,210 5,689
30,144 21,894

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 6,645

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £41,600 (2022 - £42,400) were paid to the directors .

The company was under the control of RA Brown and P Brown, the directors, throughout the current and previous year.

During the year the directors further advanced the company net amounts totalling £1,451. As at 31 December 2023 included within other creditors, is a balance outstanding due to the directors of £6,200 (2022 - £4,749). No interest has been paid on this loan.