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REGISTERED NUMBER: SC397655 (Scotland)












Financial Statements for the Year Ended 30 April 2024

for

RESERVOIR ENGINEERING SYSTEMS LTD

RESERVOIR ENGINEERING SYSTEMS LTD (REGISTERED NUMBER: SC397655)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RESERVOIR ENGINEERING SYSTEMS LTD

Company Information
for the Year Ended 30 April 2024







DIRECTOR: W Laidlaw





REGISTERED OFFICE: 1 Coull Gardens
Kingswells
Aberdeen
AB15 8TQ





REGISTERED NUMBER: SC397655 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

RESERVOIR ENGINEERING SYSTEMS LTD (REGISTERED NUMBER: SC397655)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 618,517 615,021

CURRENT ASSETS
Debtors 5 1,220 1,300
Cash at bank 448,587 443,474
449,807 444,774
CREDITORS
Amounts falling due within one year 6 74,423 31,161
NET CURRENT ASSETS 375,384 413,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

993,901

1,028,634

PROVISIONS FOR LIABILITIES 201 127
NET ASSETS 993,700 1,028,507

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 993,600 1,028,407
SHAREHOLDERS' FUNDS 993,700 1,028,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

RESERVOIR ENGINEERING SYSTEMS LTD (REGISTERED NUMBER: SC397655)

Balance Sheet - continued
30 April 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





W Laidlaw - Director


RESERVOIR ENGINEERING SYSTEMS LTD (REGISTERED NUMBER: SC397655)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Reservoir Engineering Systems Ltd 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.

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 reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

RESERVOIR ENGINEERING SYSTEMS LTD (REGISTERED NUMBER: SC397655)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 614,519 2,397 - 616,916
Additions 2,938 - 699 3,637
At 30 April 2024 617,457 2,397 699 620,553
DEPRECIATION
At 1 May 2023 - 1,895 - 1,895
Charge for year - 126 15 141
At 30 April 2024 - 2,021 15 2,036
NET BOOK VALUE
At 30 April 2024 617,457 376 684 618,517
At 30 April 2023 614,519 502 - 615,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,220 1,300

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,022 1,860
Other creditors 72,401 29,301
74,423 31,161

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £17,100 were paid to the director .

The company was under the control of director, Mr W Laidlaw, throughout the current and previous year.

During the year the director advanced the company net amounts totalling £43,926. As at 30 April 2024, included within other creditors, is a balance outstanding due to the director of £71,561 (2023 - £27,635). No interest was paid on this loan.