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REGISTERED NUMBER: SC188786 (Scotland)












Financial Statements for the Year Ended 31 December 2023

for

EUREKA DRILLING SERVICES LIMITED

EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)






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


EUREKA DRILLING SERVICES LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M B McMahon





REGISTERED OFFICE: 14 Altries Wood
Maryculter
Aberdeen
Aberdeenshire
AB12 5GH





REGISTERED NUMBER: SC188786 (Scotland)





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

EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,019 2,353

CURRENT ASSETS
Debtors 5 97,354 74,044
Cash at bank 1,114 39,618
98,468 113,662
CREDITORS
Amounts falling due within one year 6 57,553 54,733
NET CURRENT ASSETS 40,915 58,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,934

61,282

PROVISIONS FOR LIABILITIES 7 469 447
NET ASSETS 42,465 60,835

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 42,463 60,833
SHAREHOLDERS' FUNDS 42,465 60,835

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 director acknowledges her 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.

EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)

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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 April 2024 and were signed by:





M B McMahon - Director


EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)

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

1. STATUTORY INFORMATION

Eureka Drilling Services Limited 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.
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 and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 3,517
Additions 708
At 31 December 2023 4,225
DEPRECIATION
At 1 January 2023 1,164
Charge for year 1,042
At 31 December 2023 2,206
NET BOOK VALUE
At 31 December 2023 2,019
At 31 December 2022 2,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,800 30,780
Other debtors 35,554 43,264
97,354 74,044

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 56,258 53,498
Other creditors 1,295 1,235
57,553 54,733

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 469 447

Deferred
tax
£   
Balance at 1 January 2023 447
Provided during year 22
Balance at 31 December 2023 469

EUREKA DRILLING SERVICES LIMITED (REGISTERED NUMBER: SC188786)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
M B McMahon
Balance outstanding at start of year 26,838 26,838
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,838 26,838

Interest was charged on the loan in line with HMRC rates.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £169,268 were paid to the director .

The company was under the control of the director, M B McMahon, throughout the current and previous year.