Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-303831site investigation and ground stabilisation contractors2023-07-01false5555truetruefalse 01650049 2023-07-01 2024-06-30 01650049 2022-07-01 2023-06-30 01650049 2024-06-30 01650049 2023-06-30 01650049 2022-07-01 01650049 c:Director3 2023-07-01 2024-06-30 01650049 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 01650049 d:Buildings d:ShortLeaseholdAssets 2024-06-30 01650049 d:Buildings d:ShortLeaseholdAssets 2023-06-30 01650049 d:PlantMachinery 2023-07-01 2024-06-30 01650049 d:PlantMachinery 2024-06-30 01650049 d:PlantMachinery 2023-06-30 01650049 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01650049 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 01650049 d:MotorVehicles 2023-07-01 2024-06-30 01650049 d:MotorVehicles 2024-06-30 01650049 d:MotorVehicles 2023-06-30 01650049 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01650049 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 01650049 d:FurnitureFittings 2023-07-01 2024-06-30 01650049 d:FurnitureFittings 2024-06-30 01650049 d:FurnitureFittings 2023-06-30 01650049 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01650049 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 01650049 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01650049 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 01650049 d:CurrentFinancialInstruments 2024-06-30 01650049 d:CurrentFinancialInstruments 2023-06-30 01650049 d:Non-currentFinancialInstruments 2024-06-30 01650049 d:Non-currentFinancialInstruments 2023-06-30 01650049 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01650049 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01650049 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 01650049 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 01650049 d:ShareCapital 2024-06-30 01650049 d:ShareCapital 2023-06-30 01650049 d:SharePremium 2024-06-30 01650049 d:SharePremium 2023-06-30 01650049 d:RetainedEarningsAccumulatedLosses 2024-06-30 01650049 d:RetainedEarningsAccumulatedLosses 2023-06-30 01650049 c:OrdinaryShareClass1 2023-07-01 2024-06-30 01650049 c:OrdinaryShareClass1 2024-06-30 01650049 c:OrdinaryShareClass1 2023-06-30 01650049 c:FRS102 2023-07-01 2024-06-30 01650049 c:Audited 2023-07-01 2024-06-30 01650049 c:FullAccounts 2023-07-01 2024-06-30 01650049 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01650049 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01650049 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 01650049 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01650049 2 2023-07-01 2024-06-30 01650049 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 01650049 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 01650049 d:LeasedAssetsHeldAsLessee 2024-06-30 01650049 d:LeasedAssetsHeldAsLessee 2023-06-30 01650049 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01650049









M & J DRILLING SERVICES LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
M & J DRILLING SERVICES LIMITED
REGISTERED NUMBER: 01650049

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
879,499
565,407

  
879,499
565,407

Current assets
  

Debtors: amounts falling due within one year
 5 
2,047,460
2,151,619

Cash at bank and in hand
  
677,057
557,617

  
2,724,517
2,709,236

Creditors: amounts falling due within one year
 6 
(1,019,121)
(1,078,577)

Net current assets
  
 
 
1,705,396
 
 
1,630,659

Total assets less current liabilities
  
2,584,895
2,196,066

Creditors: amounts falling due after more than one year
 7 
(156,801)
(38,436)

Provisions for liabilities
  

Deferred tax
 8 
(214,715)
(102,643)

  
 
 
(214,715)
 
 
(102,643)

Net assets
  
2,213,379
2,054,987


Capital and reserves
  

Called up share capital 
 9 
100
100

Share premium account
  
30,000
30,000

Profit and loss account
  
2,183,279
2,024,887

  
2,213,379
2,054,987


Page 1

 
M & J DRILLING SERVICES LIMITED
REGISTERED NUMBER: 01650049
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 December 2024.



................................................
Scott Johnson
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is registered in England and Wales. The company's registered office is Unit 44 Coneygree Industrial Estate, Tipton, West Midlands, DY4 8XP. The principal activity of the company continues to be that of site investigation and ground stabilisation contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, and provided on the following bases:-.


Short-term leasehold property
-
straight line over the life of the lease
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 55 (2023 - 55).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
145,078
1,285,154
962,025
109,943
2,502,200


Additions
-
1,160
475,983
1,846
478,989


Disposals
-
(69,250)
(136,493)
-
(205,743)



At 30 June 2024

145,078
1,217,064
1,301,515
111,789
2,775,446



Depreciation


At 1 July 2023
131,710
1,055,231
692,849
57,003
1,936,793


Charge for the year on owned assets
3,831
33,381
18,408
5,467
61,087


Charge for the year on financed assets
-
-
68,097
-
68,097


Disposals
-
(46,921)
(123,109)
-
(170,030)



At 30 June 2024

135,541
1,041,691
656,245
62,470
1,895,947



Net book value



At 30 June 2024
9,537
175,373
645,270
49,319
879,499



At 30 June 2023
13,368
229,923
269,176
52,940
565,407

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


Page 6

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           4.Tangible fixed assets (continued)

2024
2023
£
£



Motor vehicles
592,572
192,291

592,572
192,291

Page 7

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,470,117
1,555,648

Other debtors
446,079
454,540

Prepayments and accrued income
131,264
141,431

2,047,460
2,151,619



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
351,411
339,569

Amounts owed to group undertakings
70,875
200,000

Corporation tax
190,609
331,458

Other taxation and social security
47,515
53,886

Obligations under finance lease and hire purchase contracts
293,783
78,791

Other creditors
116
788

Accruals and deferred income
64,812
74,085

1,019,121
1,078,577


The assets held under hire purchase agreements are secured over the assets that they relate to within note 4 to the financial statements.


7.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
156,801
38,436

156,801
38,436


The assets held under hire purchase agreements are secured over the assets that they relate to within note 4 to the financial statements.

Page 8

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
102,643
121,382


Charged to profit or loss
112,072
(18,739)



At end of year
214,715
102,643

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
214,715
102,643

214,715
102,643


9.


Share capital

2024
2023
£
£
Authorised



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Controlling party

The controlling interest in the company is held by M & J Drilling Holding Limited. 


11.


Limitation of Auditors' liability

The company has entered into a liability limitation agreement, the principal terms being as follows:-
Any liability is limited, pursuant to Section 537 of the Companies Act 2006, to no less than such amount as is considered fair and reasonable in each individual circumstance and to a maximum of ten times the level of the fee for the audit service being carried out.
The resolution approving this agreement is dated 5 January 2024.

Page 9

 
M & J DRILLING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 20 December 2024 by Mark Anthony Cupitt (Senior statutory auditor) on behalf of Lancaster  Clements Limited.

 
Page 10