Registered number
13530152
Sonic Drilling Services Limited
Unaudited Filleted Accounts
31 July 2024
Sonic Drilling Services Limited
Registered number: 13530152
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 899,820 916,920
Current assets
Debtors 4 4 4
Cash at bank and in hand 171,668 121,799
171,672 121,803
Creditors: amounts falling due within one year 5 (31,414) (26,631)
Net current assets 140,258 95,172
Total assets less current liabilities 1,040,078 1,012,092
Creditors: amounts falling due after more than one year 6 (961,087) (974,650)
Net assets 78,991 37,442
Capital and reserves
Called up share capital 4 4
Profit and loss account 78,987 37,438
Shareholders' funds 78,991 37,442
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A W Hornsby
Director
Approved by the board on 4 April 2025
Sonic Drilling Services Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 945,420
At 31 July 2024 945,420
Depreciation
At 1 August 2023 28,500
Charge for the year 17,100
At 31 July 2024 45,600
Net book value
At 31 July 2024 899,820
At 31 July 2023 916,920
4 Debtors 2024 2023
£ £
Other debtors 4 4
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,720 13,144
Taxation and social security costs 16,044 11,837
Other creditors 1,650 1,650
31,414 26,631
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 500,087 513,650
Other creditors 461,000 461,000
961,087 974,650
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 417,464 452,947
Secured bank loans 513,807 526,794
The bank loan is secured by a first legal charge over the company's freehold property.
8 Other information
Sonic Drilling Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Mill House
Macclesfield Road
Rushton Spencer
Staffordshire
SK11 0QX
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