Company registration number SC492699 (Scotland)
DEVONSHIRE OILFIELD SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
DEVONSHIRE OILFIELD SERVICES LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
DEVONSHIRE OILFIELD SERVICES LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF DEVONSHIRE OILFIELD SERVICES LTD
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Devonshire Oilfield Services Ltd for the year ended 29 February 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of Devonshire Oilfield Services Ltd, as a body, in accordance with the terms of our engagement letter dated 6 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Devonshire Oilfield Services Ltd and state those matters that we have agreed to state to the board of directors of Devonshire Oilfield Services Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devonshire Oilfield Services Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Devonshire Oilfield Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Devonshire Oilfield Services Ltd. You consider that Devonshire Oilfield Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Devonshire Oilfield Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A.J.B. Scholes Ltd
19 November 2024
Chartered Accountants
10 Albyn Place
Aberdeen
AB10 1YH
DEVONSHIRE OILFIELD SERVICES LTD
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Current assets
Debtors
4
-
0
192
Cash at bank and in hand
39,396
90,434
39,396
90,626
Creditors: amounts falling due within one year
5
(5,448)
(4,221)
Net current assets
33,948
86,405
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
33,938
86,395
Total equity
33,948
86,405

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 19 November 2024
Mr Steven Heron
Director
Company registration number SC492699 (Scotland)
DEVONSHIRE OILFIELD SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Devonshire Oilfield Services Ltd is a private company limited by shares incorporated in Scotland. The registered office is 10 Albyn Place, Aberdeen, AB10 1YH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is of the opinion that the company can continue to meet its obligations as they fall due for the foreseeable future. As a consequence, the director has prepared the financial statements on the going concern basis.true

1.3
Financial instruments

The following assets and liabilities are classified as financial instruments bank and loans from and to related parties. Cash at bank in the balance sheet is held on demand. Loans from and to related parties are measured at the undiscounted amounts payable and receivable.

1.4
Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DEVONSHIRE OILFIELD SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
192
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
3,585
3,259
Other creditors
1,863
962
5,448
4,221
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
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