Aaron Drilling Services Limited


FINANCIAL STATEMENTS


for the year ended 30th April 2024



Aaron Drilling Services Limited

CONTENTS

for the year ended 30th April 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Aaron Drilling Services Limited

Company No. 09371188

STATEMENT OF FINANCIAL POSITION

as at 30th April 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4415379194
415379194
CURRENT ASSETS
Debtors52145117662
Cash at bank and in hand2150944493
4296062155
CURRENT LIABILITIES
Creditors: amounts falling due
within one year64358345644
NET CURRENT (LIABILITIES)/ASSETS(623)16511
TOTAL ASSETS LESS CURRENT LIABILITIES4091425705
 
Creditors: amounts falling due
after more than one year714870-
 
NET ASSETS2604425705
 
CAPITAL AND RESERVES
Called up share capital100100
Retained earnings2594425605
SHAREHOLDERS FUNDS2604425705

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 30th April 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 27 August 2024


A Manley

Director

Company Number 09371188 (England)

Aaron Drilling Services Limited

NOTES TO THE ACCOUNTS

for the year ended 30th April 2024


1   Statutory information

Aaron Drilling Services Limited is a private company limited by shares and registered under company number 09371188 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles10% - 25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st May 2023 162706706165924635
Additions3818693-38279
Disposals(16270)--(16270)
At 30th April 2024381866799165946644
 
Depreciation
At 1st May 2023 107653363131315441
Charge for year-34487431
On disposals(10765)--(10765)
At 30th April 2024-370714005107
 
Net Book Value
At 30th April 202438186309225941537
At 30th April 2023550533433469194
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 30th April 202434208--34208
At 30th April 20236006--6006

5   Debtors20242023
££
 
Trade Debtors2540-
Other debtors1891117662
2145117662

6   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts1750024000
Obligations under finance lease and hire purchase contracts4150366
Trade Creditors-396
Corporation tax104228755
Other creditors1151112127
4358345644

7   Creditors: amounts falling due after one year20242023
££
 
Obligations under finance lease and hire purchase contracts14870-
14870-

8   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
A Manley191872
191872

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