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REGISTERED NUMBER: SC465447 (Scotland)






























Financial Statements for the Year Ended 31 December 2023

for

Craigward Petroleum Services Limited

Craigward Petroleum Services Limited (Registered number: SC465447)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Craigward Petroleum Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A Beck
Mrs P Beck





SECRETARY:





REGISTERED OFFICE: 6 , Baillieswells Road
Aberdeen
AB15 9AP





REGISTERED NUMBER: SC465447 (Scotland)





ACCOUNTANTS: A J Croll & Company
19 Bon Accord Crescent
Aberdeen
Aberdeenshire
AB11 6DE

Craigward Petroleum Services Limited (Registered number: SC465447)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,994 77,421

CURRENT ASSETS
Debtors 5 69,825 49,675
Cash at bank 516,904 541,498
586,729 591,173
CREDITORS
Amounts falling due within one year 6 55,909 65,851
NET CURRENT ASSETS 530,820 525,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,814

602,743

PROVISIONS FOR LIABILITIES 946 5,065
NET ASSETS 584,868 597,678

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 584,368 597,178
SHAREHOLDERS' FUNDS 584,868 597,678

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.

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 18 September 2024 and were signed on its behalf by:



Mr A Beck - Director


Craigward Petroleum Services Limited (Registered number: SC465447)

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

1. STATUTORY INFORMATION

Craigward Petroleum 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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

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 2 (2022 - 2 ) .

Craigward Petroleum Services Limited (Registered number: SC465447)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 300 89,665 5,118 95,083
Additions 398 - 198 596
At 31 December 2023 698 89,665 5,316 95,679
DEPRECIATION
At 1 January 2023 300 13,076 4,286 17,662
Charge for year 100 22,416 507 23,023
At 31 December 2023 400 35,492 4,793 40,685
NET BOOK VALUE
At 31 December 2023 298 54,173 523 54,994
At 31 December 2022 - 76,589 832 77,421

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 21,000 33,675
Other debtors 48,825 16,000
69,825 49,675

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 44,226 52,853
Other creditors 11,683 12,998
55,909 65,851

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Beck.