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Registration number: 15152045

Asbestos Drilling Services Ltd

Unaudited Filleted Financial Statements

for the Period from 20 September 2023 to 30 September 2024

 

Asbestos Drilling Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Asbestos Drilling Services Ltd

Company Information

Directors

Mr R Clark

Ms Newport

Registered office

Swaylands
Hatch lane
Chartham
Kent
CT4 7LN

Accountants

Burgess & Co 46-47 The Strand
Walmer
Deal
Kent
CT14 7DX

 

Asbestos Drilling Services Ltd

(Registration number: 15152045)
Balance Sheet as at 30 September 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

498

Current assets

 

Debtors

5

10,540

Cash at bank and in hand

 

17,432

 

27,972

Creditors: Amounts falling due within one year

6

(10,391)

Net current assets

 

17,581

Total assets less current liabilities

 

18,079

Provisions for liabilities

(95)

Net assets

 

17,984

Capital and reserves

 

Called up share capital

7

2

Retained earnings

17,982

Shareholders' funds

 

17,984

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Mr R Clark
Director

 

Asbestos Drilling Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 September 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Swaylands
Hatch lane
Chartham
Kent
CT4 7LN

These financial statements were authorised for issue by the Board on 31 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Asbestos Drilling Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 September 2023 to 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Written Down Value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Asbestos Drilling Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 September 2023 to 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Asbestos Drilling Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 September 2023 to 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

598

598

At 30 September 2024

598

598

Depreciation

Charge for the period

100

100

At 30 September 2024

100

100

Carrying amount

At 30 September 2024

498

498

5

Debtors

Current

2024
£

Trade debtors

10,540

 

10,540

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

8,866

Accruals and deferred income

1,176

Other creditors

349

10,391

7

Share capital

Allotted, called up and fully paid shares

 

Asbestos Drilling Services Ltd

Notes to the Unaudited Financial Statements for the Period from 20 September 2023 to 30 September 2024

2024

No.

£

Ordinary of £1 each

2

2

   

8

Dividends