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REGISTERED NUMBER: 05467239 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

S.W.Directional Drilling Ltd

S.W.Directional Drilling Ltd (Registered number: 05467239)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.W.Directional Drilling Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S Wilson
C Weatherall





REGISTERED OFFICE: 26 Henley Drive
Thorpe Thewles
Stockton-on-Tees
TS21 3FQ





REGISTERED NUMBER: 05467239 (England and Wales)





ACCOUNTANTS: Wasley Chapman LLP
Chartered Accountants
7 Eggleston Court
Riverside Park
Middlesbrough
TS2 1RU

S.W.Directional Drilling Ltd (Registered number: 05467239)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,734 243,616

CURRENT ASSETS
Stocks 15,058 15,058
Debtors 5 245,050 247,770
Cash at bank and in hand 428,586 332,992
688,694 595,820
CREDITORS
Amounts falling due within one year 6 83,234 99,023
NET CURRENT ASSETS 605,460 496,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

792,194

740,413

CREDITORS
Amounts falling due after more than one
year

7

(123,404

)

(151,311

)

PROVISIONS FOR LIABILITIES (28,217 ) (37,430 )
NET ASSETS 640,573 551,672

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 640,567 551,666
640,573 551,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

S.W.Directional Drilling Ltd (Registered number: 05467239)

Balance Sheet - continued
31 May 2024


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 Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





C Weatherall - Director


S.W.Directional Drilling Ltd (Registered number: 05467239)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

S.W.Directional Drilling Ltd 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.

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 etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

S.W.Directional Drilling Ltd (Registered number: 05467239)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 190,971 8,087 304,808 503,866
Additions 3,387 - - 3,387
At 31 May 2024 194,358 8,087 304,808 507,253
DEPRECIATION
At 1 June 2023 165,266 1,328 93,656 260,250
Charge for year 6,464 1,015 52,790 60,269
At 31 May 2024 171,730 2,343 146,446 320,519
NET BOOK VALUE
At 31 May 2024 22,628 5,744 158,362 186,734
At 31 May 2023 25,705 6,759 211,152 243,616

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 282,593
DEPRECIATION
At 1 June 2023 81,595
Charge for year 50,251
At 31 May 2024 131,846
NET BOOK VALUE
At 31 May 2024 150,747
At 31 May 2023 200,998

S.W.Directional Drilling Ltd (Registered number: 05467239)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,878 128,040
Other debtors 201,172 119,730
245,050 247,770

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 28,254 36,783
Trade creditors 4,632 10,446
Taxation and social security 46,702 46,759
Other creditors 3,646 5,035
83,234 99,023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 123,404 151,311