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Company Registration No. 02545686 (England and Wales)
Drilling Fluid Management Systems Limited Unaudited accounts for the year ended 31 October 2023
Drilling Fluid Management Systems Limited Unaudited accounts Contents
Page
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Drilling Fluid Management Systems Limited Company Information for the year ended 31 October 2023
Directors
Mr P Wilson Mrs P Wilson
Company Number
02545686 (England and Wales)
Registered Office
The Old Forge Bradfiled St George BURY ST EDMUNDS Suffolk IP30 0AB United Kingdom
Accountants
IDS Business Services 8 Maltings Garth Thurston BURY ST EDMUNDS Suffolk IP31 3PP
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Drilling Fluid Management Systems Limited for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Drilling Fluid Management Systems Limited for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
IDS Business Services Member in Practice 8 Maltings Garth Thurston BURY ST EDMUNDS Suffolk IP31 3PP 20 July 2024
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Drilling Fluid Management Systems Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2 
- 
Current assets
Debtors
5,326 
18,935 
Cash at bank and in hand
20,502 
1,641 
25,828 
20,576 
Creditors: amounts falling due within one year
11,529 
(4,101)
Net current assets
37,357 
16,475 
Net assets
37,359 
16,475 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
37,357 
16,473 
Shareholders' funds
37,359 
16,475 
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Mr P Wilson Director Company Registration No. 02545686
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Drilling Fluid Management Systems Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Drilling Fluid Management Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 02545686. The registered office is The Old Forge , Bradfiled St George, BURY ST EDMUNDS, Suffolk, IP30 0AB, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
19,093 
Additions
2,511 
At 31 October 2023
21,604 
Depreciation
At 1 November 2022
19,093 
Charge for the year
2,509 
At 31 October 2023
21,602 
Net book value
At 31 October 2023
2 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
(4,594)
80 
Trade debtors
9,920 
17,150 
Other debtors
- 
1,705 
5,326 
18,935 
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Drilling Fluid Management Systems Limited Notes to the Accounts for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(47)
2,975 
Trade creditors
(6,050)
- 
Taxes and social security
(5,057)
- 
Loans from directors
(838)
- 
Accruals
463 
1,126 
(11,529)
4,101 
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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