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REGISTERED NUMBER: SC235779 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Norscot Drilling Limited

Norscot Drilling Limited (Registered number: SC235779)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Norscot Drilling Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Miss A F Davidson
Mr D Gronewold





REGISTERED OFFICE: 3 Union Road
Macduff
Aberdeenshire
AB44 1UD





REGISTERED NUMBER: SC235779 (Scotland)





ACCOUNTANTS: SBP
Accountants
9 Carmelite Street
Banff
Aberdeenshire
AB45 1AF

Norscot Drilling Limited (Registered number: SC235779)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,113 4,150

CURRENT ASSETS
Stocks 18,235 18,235
Debtors 5 31,807 31,710
Cash at bank 36,872 50,436
86,914 100,381
CREDITORS
Amounts falling due within one year 6 18,945 24,934
NET CURRENT ASSETS 67,969 75,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,082

79,597

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 70,982 79,497
SHAREHOLDERS' FUNDS 71,082 79,597

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:



Miss A F Davidson - Director


Norscot Drilling Limited (Registered number: SC235779)

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

1. STATUTORY INFORMATION

Norscot Drilling Limited 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.

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

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 9,429 588 5,726 15,743
Disposals (1,461 ) (588 ) (3,411 ) (5,460 )
At 31 August 2024 7,968 - 2,315 10,283
DEPRECIATION
At 1 September 2023 5,279 588 5,726 11,593
Charge for year 1,037 - - 1,037
Eliminated on disposal (1,461 ) (588 ) (3,411 ) (5,460 )
At 31 August 2024 4,855 - 2,315 7,170
NET BOOK VALUE
At 31 August 2024 3,113 - - 3,113
At 31 August 2023 4,150 - - 4,150

Norscot Drilling Limited (Registered number: SC235779)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 31,272 31,272
VAT 287 180
Prepayments 248 258
31,807 31,710

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Tax 592 7,243
Directors' current accounts 17,353 16,491
Accrued expenses 1,000 1,200
18,945 24,934

7. RELATED PARTY DISCLOSURES

The Directors operate a current account with the company and as at 31st August 2024 the combined balance owing to them was £17,353 (2023: £16,491). There are no fixed terms of repayment and no interest is accrued.

8. ULTIMATE CONTROLLING PARTY

The directors who own 100% of the share capital.