Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 01341987 Ms Anne Baxter Mr Martyn Brocklesby Mr Richard Fielden Mr Timothy Horner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01341987 2022-12-31 01341987 2023-12-31 01341987 2023-01-01 2023-12-31 01341987 frs-core:CurrentFinancialInstruments 2023-12-31 01341987 frs-core:PlantMachinery 2023-12-31 01341987 frs-core:PlantMachinery 2023-01-01 2023-12-31 01341987 frs-core:PlantMachinery 2022-12-31 01341987 frs-core:OtherReservesSubtotal 2023-12-31 01341987 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01341987 frs-bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 01341987 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 01341987 frs-bus:SmallEntities 2023-01-01 2023-12-31 01341987 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01341987 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01341987 frs-core:UnlistedNon-exchangeTraded 2023-12-31 01341987 frs-core:UnlistedNon-exchangeTraded 2022-12-31 01341987 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 01341987 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 01341987 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 01341987 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 01341987 frs-bus:Director1 2023-01-01 2023-12-31 01341987 frs-bus:Director2 2023-01-01 2023-12-31 01341987 frs-bus:Director3 2023-01-01 2023-12-31 01341987 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 01341987 frs-core:CurrentFinancialInstruments 2 2023-12-31 01341987 frs-countries:EnglandWales 2023-01-01 2023-12-31 01341987 2021-12-31 01341987 2022-12-31 01341987 2022-01-01 2022-12-31 01341987 frs-core:CurrentFinancialInstruments 2022-12-31 01341987 frs-core:OtherReservesSubtotal 2022-12-31 01341987 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 01341987 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 01341987
British Drilling Association Limited
Financial Statements
For The Year Ended 31 December 2023
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01341987
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1 1
Investments 5 100 100
101 101
CURRENT ASSETS
Debtors 6 4,212 5,284
Cash at bank and in hand 179,828 126,999
184,040 132,283
Creditors: Amounts Falling Due Within One Year 7 (88,486 ) (48,931 )
NET CURRENT ASSETS (LIABILITIES) 95,554 83,352
TOTAL ASSETS LESS CURRENT LIABILITIES 95,655 83,453
NET ASSETS 95,655 83,453
RESERVES
Other reserves 1,590 1,590
Income and Expenditure Account 94,065 81,863
MEMBERS' FUNDS 95,655 83,453
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Martyn Brocklesby
Director
17th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
British Drilling Association Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 01341987 . The registered office is 55 Crown Street, Brentwood, Essex, CM14 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 1/3 of cost per year
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 2,619
As at 31 December 2023 2,619
Depreciation
As at 1 January 2023 2,618
As at 31 December 2023 2,618
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 1
5. Investments
Unlisted
£
Cost
As at 1 January 2023 100
As at 31 December 2023 100
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 100
As at 1 January 2023 100
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,029 3,713
Prepayments and accrued income 612 612
VAT 2,571 959
4,212 5,284
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,439 5,285
Corporation tax 1,161 -
Income received in advance 16,519 11,641
Publications update provision 11,990 7,148
Accruals and deferred income 10,457 1,457
Amounts owed to subsidiaries 35,920 23,400
88,486 48,931
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 5