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REGISTERED NUMBER: 03691592 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Sherwood Drilling Services Ltd.

Sherwood Drilling Services Ltd. (Registered number: 03691592)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Sherwood Drilling Services Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Miss S Burton
Mr R Cotton





SECRETARY: Miss S Burton





REGISTERED OFFICE: 108 Church Lane
Brinsley
Nottinghamshire
NG16 5AB





REGISTERED NUMBER: 03691592 (England and Wales)





ACCOUNTANTS: Wright, Shaw and Partners
14, High Street
Hucknall
Nottinghamshire
NG15 7HD

Sherwood Drilling Services Ltd. (Registered number: 03691592)

Balance Sheet
31 January 2024

31.1.23 31.1.24
£    £    Notes £    £   
FIXED ASSETS
80,000 Intangible assets 4 80,000
21,263 Tangible assets 5 17,289
101,263 97,289

CURRENT ASSETS
4,583 Stocks 1,063
25,498 Debtors 6 19,948
19,928 Cash at bank and in hand 23,049
50,009 44,060
CREDITORS
86,877 Amounts falling due within one year 7 66,985
(36,868 ) NET CURRENT LIABILITIES (22,925 )
64,395 TOTAL ASSETS LESS CURRENT
LIABILITIES

74,364

4,980 PROVISIONS FOR LIABILITIES 3,285
59,415 NET ASSETS 71,079

CAPITAL AND RESERVES
2 Called up share capital 2
59,413 Retained earnings 71,077
59,415 SHAREHOLDERS' FUNDS 71,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Sherwood Drilling Services Ltd. (Registered number: 03691592)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:




Mr R Cotton - Director



Miss S Burton - Director


Sherwood Drilling Services Ltd. (Registered number: 03691592)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Sherwood Drilling Services Ltd. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The directors have decided not to amortise the goodwill purchased in 1999.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Sherwood Drilling Services Ltd. (Registered number: 03691592)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 80,000
NET BOOK VALUE
At 31 January 2024 80,000
At 31 January 2023 80,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 164,400 102,363 2,842 55,420 3,775
DEPRECIATION
At 1 February 2023 143,137 91,899 788 47,810 2,640
Charge for year 3,974 1,591 308 1,902 173
At 31 January 2024 147,111 93,490 1,096 49,712 2,813
NET BOOK VALUE
At 31 January 2024 17,289 8,873 1,746 5,708 962
At 31 January 2023 21,263 10,464 2,054 7,610 1,135

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 19,663 25,181
Other debtors 285 317
19,948 25,498

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 12,058 17,014
Trade creditors 2,264 3,914
Taxation and social security 14,022 10,906
Other creditors 38,641 55,043
66,985 86,877

Sherwood Drilling Services Ltd.

Report of the Accountants to the Directors of
Sherwood Drilling Services Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wright, Shaw and Partners
14, High Street
Hucknall
Nottinghamshire
NG15 7HD


24 October 2024