1 May 2023 false Taxfiler 2024.5 SC500177business:PrivateLimitedCompanyLtd2023-05-012024-04-30 SC5001772023-04-30 SC5001772023-05-012024-04-30 SC500177business:AuditExemptWithAccountantsReport2023-05-012024-04-30 SC500177business:FilletedAccounts2023-05-012024-04-30 SC5001772024-04-30 SC500177business:Director12023-05-012024-04-30 SC500177business:Director22023-05-012024-04-30 SC500177business:RegisteredOffice2023-05-012024-04-30 SC5001772023-04-30 SC500177core:WithinOneYear2024-04-30 SC500177core:WithinOneYear2023-04-30 SC500177core:AfterOneYear2024-04-30 SC500177core:AfterOneYear2023-04-30 SC500177core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 SC500177core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 SC500177core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 SC500177core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 SC500177core:PreviouslyStatedAmount2024-04-30 SC500177core:PreviouslyStatedAmount2023-04-30 SC500177business:SmallEntities2023-05-012024-04-30 SC500177countries:Scotland2023-05-012024-04-30 SC500177core:PlantMachinery2023-05-012024-04-30 SC500177core:MotorVehicles2023-05-012024-04-30 SC500177core:ComputerEquipment2023-05-012024-04-30 SC500177core:PlantMachinery2023-04-30 SC500177core:MotorVehicles2023-04-30 SC500177core:ComputerEquipment2023-04-30 SC500177core:PlantMachinery2024-04-30 SC500177core:MotorVehicles2024-04-30 SC500177core:ComputerEquipment2024-04-30 SC500177business:Director212023-05-012024-04-30 SC500177business:Director212023-04-30 SC500177business:Director212024-04-30 SC5001772022-05-012023-04-30 iso4217:GBP xbrli:pure
Company Registration No. SC500177 (Scotland)
Core Drilling Specialists (Scotland) Limited Unaudited accounts for the year ended 30 April 2024
Core Drilling Specialists (Scotland) Limited Unaudited accounts Contents
Page
- 2 -
Core Drilling Specialists (Scotland) Limited Company Information for the year ended 30 April 2024
Directors
Malcolm Murray Scott Murray
Company Number
SC500177 (Scotland)
Registered Office
Unit 9, Inchcross Industrial Estate Whitburn Road Bathgate West Lothian EH48 2HR Scotland
Accountants
Select Financial Management Axwell House 2 Westerton Road Broxburn West Lothian EH52 5AU
- 3 -
Core Drilling Specialists (Scotland) Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,017,612 
695,693 
Current assets
Inventories
6,560 
6,250 
Debtors
1,002,070 
601,863 
Cash at bank and in hand
855,300 
1,160,433 
1,863,930 
1,768,546 
Creditors: amounts falling due within one year
(555,891)
(565,338)
Net current assets
1,308,039 
1,203,208 
Total assets less current liabilities
2,325,651 
1,898,901 
Creditors: amounts falling due after more than one year
(209,248)
(123,798)
Provisions for liabilities
Deferred tax
(254,404)
(168,093)
Net assets
1,861,999 
1,607,010 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,861,998 
1,607,009 
Shareholders' funds
1,861,999 
1,607,010 
For the year ending 30 April 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by
Scott Murray Director Company Registration No. SC500177
- 4 -
Core Drilling Specialists (Scotland) Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Core Drilling Specialists (Scotland) Limited is a private company, limited by shares, registered in Scotland, registration number SC500177. The registered office is Unit 9, Inchcross Industrial Estate, Whitburn Road, Bathgate, West Lothian, EH48 2HR, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Reducing Balance
Computer equipment
25% Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
Core Drilling Specialists (Scotland) Limited Notes to the Accounts for the year ended 30 April 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
705,173 
611,744 
24,259 
1,341,176 
Additions
336,951 
291,802 
483 
629,236 
Disposals
- 
(70,000)
- 
(70,000)
At 30 April 2024
1,042,124 
833,546 
24,742 
1,900,412 
Depreciation
At 1 May 2023
369,416 
256,516 
19,551 
645,483 
Charge for the year
138,789 
122,972 
2,489 
264,250 
On disposals
- 
(26,933)
- 
(26,933)
At 30 April 2024
508,205 
352,555 
22,040 
882,800 
Net book value
At 30 April 2024
533,919 
480,991 
2,702 
1,017,612 
At 30 April 2023
335,757 
355,228 
4,708 
695,693 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
105,089 
104,129 
Trade debtors
757,449 
494,473 
Other debtors
139,532 
3,261 
1,002,070 
601,863 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
46,884 
26,884 
Trade creditors
375,687 
351,080 
Taxes and social security
89,496 
160,817 
Other creditors
27,321 
4,054 
Accruals
16,503 
22,503 
555,891 
565,338 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
209,248 
123,798 
- 6 -
Core Drilling Specialists (Scotland) Limited Notes to the Accounts for the year ended 30 April 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Scott Murray
Director's loan
- 
151,482 
19,500 
131,982 
- 
151,482 
19,500 
131,982 
During the year, the company advanced the above interest-free loan to its director, Scott Murray, which is being repaid by instalments that averaged around £2,000 per month. This balance is included within the figure for 'other debtors' per Note 6 above.
9
Average number of employees
During the year the average number of employees was 45 (2023: 45).
- 7 -