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REGISTERED NUMBER: 06037555 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

R.D. DRILLING LIMITED

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

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


R.D. DRILLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: R A Douglas





REGISTERED OFFICE: Victoria House
Bondgate Within
Alnwick
Northumberland
NE66 1TA





REGISTERED NUMBER: 06037555 (England and Wales)





ACCOUNTANTS: Greaves Grindle
Chartered Accountants
Victoria House
Bondgate Within
Alnwick
Northumberland
NE66 1TA

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,810 163,582

CURRENT ASSETS
Debtors 5 228,966 243,168
Cash at bank 4,988 45,800
233,954 288,968
CREDITORS
Amounts falling due within one year 6 257,714 291,066
NET CURRENT LIABILITIES (23,760 ) (2,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,050

161,484

CREDITORS
Amounts falling due after more than one
year

7

(88,209

)

(124,274

)

PROVISIONS FOR LIABILITIES (16,187 ) (19,672 )
NET ASSETS 6,654 17,538

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 6,354 17,238
SHAREHOLDERS' FUNDS 6,654 17,538

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 his 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.

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





R A Douglas - Director


R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

R.D. Drilling Limited 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 represents net invoiced sales of services. excluding valued added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 - at variable rates on reducing balance
Rig - 20% on reducing balance and straight line over lease term
Motor vehicles - 20% on reducing balance
Computer equipment - 50% on reducing balance

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.

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Rig vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 27,502 134,990 232,918 9,034 404,444
Additions 8,669 - 21,495 228 30,392
Disposals - - (74,579 ) - (74,579 )
At 31 December 2023 36,171 134,990 179,834 9,262 360,257
DEPRECIATION
At 1 January 2023 11,375 96,054 124,693 8,740 240,862
Charge for year 1,799 7,787 26,804 264 36,654
Eliminated on disposal - - (52,069 ) - (52,069 )
At 31 December 2023 13,174 103,841 99,428 9,004 225,447
NET BOOK VALUE
At 31 December 2023 22,997 31,149 80,406 258 134,810
At 31 December 2022 16,127 38,936 108,225 294 163,582

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
Rig vehicles Totals
£    £    £   
COST
At 1 January 2023 42,495 140,234 182,729
Additions - 9,995 9,995
Transfer to ownership (19,459 ) - (19,459 )
At 31 December 2023 23,036 150,229 173,265
DEPRECIATION
At 1 January 2023 20,486 46,259 66,745
Charge for year 2,949 25,993 28,942
Transfer to ownership (12,193 ) - (12,193 )
At 31 December 2023 11,242 72,252 83,494
NET BOOK VALUE
At 31 December 2023 11,794 77,977 89,771
At 31 December 2022 22,009 93,975 115,984

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,197 66,776
Other debtors 208,769 176,392
228,966 243,168

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,519 19,120
Hire purchase contracts and finance leases 32,297 26,816
Trade creditors 39,676 40,953
Taxation and social security 157,058 197,027
Other creditors 8,164 7,150
257,714 291,066

R.D. DRILLING LIMITED (REGISTERED NUMBER: 06037555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Hire purchase contracts and finance leases 73,209 99,274
88,209 124,274

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
£    £   
R A Douglas
Balance outstanding at start of year 101,997 121,325
Amounts advanced 136,641 154,108
Amounts repaid (110,000 ) (173,436 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 128,638 101,997

Dividends totalling £110,000 (2022 £153,000) were paid to the director and his family during the year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is R A Douglas.