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Registered Number: 07399756


 

 

 


Abridged Accounts

for the year ended 31 December 2024

for

MB DIAMOND DRILLING LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 254,292    276,991 
254,292    276,991 
Current assets      
Stocks 46,140    41,481 
Debtors 102,807    289,939 
Cash at bank and in hand (6,528)   11,307 
142,419    342,727 
Creditors: amount falling due within one year (140,467)   (136,746)
Net current assets 1,952    205,981 
 
Total assets less current liabilities 256,244    482,972 
Creditors: amount falling due after more than one year (116,615)   (252,074)
Provisions for liabilities (66,136)   (45,353)
Net assets 73,493    185,545 
 

Capital and reserves
     
Called up share capital 200    101 
Profit and loss account 73,293    185,444 
Shareholders' funds 73,493    185,545 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 March 2025 and were signed by:


-------------------------------
Michael Barnard
Director
1
General Information
MB Diamond Drilling Ltd is a private company, limited by shares, registered in , registration number 07399756, registration address Unit 1, Algrey Trading Estate, 5 Cooks Way, Hitchin, SG4 0JE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 15% Straight Line
Computer Equipment 15% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 16 (2023 : 16).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2024 412,331    92,007    812    7,471    512,621 
Additions 73,800    14,925      399    89,124 
Disposals (70,250)         (70,250)
At 31 December 2024 415,881    106,932    812    7,870    531,495 
Depreciation
At 01 January 2024 217,440    11,490    669    6,031    235,630 
Charge for year 38,219    18,776    24    360    57,379 
On disposals (15,806)         (15,806)
At 31 December 2024 239,853    30,266    693    6,391    277,203 
Net book values
Closing balance as at 31 December 2024 176,028    76,666    119    1,479    254,292 
Opening balance as at 01 January 2024 194,891    80,517    143    1,440    276,991 


2