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REGISTERED NUMBER: 07500159 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

DENVER DRILLING SERVICES LIMITED

DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,607 77,959

CURRENT ASSETS
Stocks 5 36,660 42,265
Debtors 6 238,406 121,919
Cash at bank 44,090 14,221
319,156 178,405
CREDITORS
Amounts falling due within one year 7 125,245 104,339
NET CURRENT ASSETS 193,911 74,066
TOTAL ASSETS LESS CURRENT LIABILITIES 269,518 152,025

CREDITORS
Amounts falling due after more than one
year

8

(6,250

)

(21,030

)

PROVISIONS FOR LIABILITIES (18,834 ) (14,755 )
NET ASSETS 244,434 116,240

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 244,334 116,140
SHAREHOLDERS' FUNDS 244,434 116,240

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

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

DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

Balance Sheet - continued
31 December 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





Ms J L Morris - Director


DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

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


1. STATUTORY INFORMATION

Denver Drilling Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07500159

Registered office: Guardian House
Capital Business Park
Wentloog
Cardiff
South Glamorgan
CF3 2PZ

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.
Leasehold improvements - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor Computer
improvements machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 7,207 130,618 99,165 3,671 240,661
Additions - 8,422 14,700 - 23,122
At 31 December 2024 7,207 139,040 113,865 3,671 263,783
DEPRECIATION
At 1 January 2024 5,755 87,433 67,792 1,722 162,702
Charge for year 363 11,268 13,356 487 25,474
At 31 December 2024 6,118 98,701 81,148 2,209 188,176
NET BOOK VALUE
At 31 December 2024 1,089 40,339 32,717 1,462 75,607
At 31 December 2023 1,452 43,185 31,373 1,949 77,959

5. STOCKS
2024 2023
£    £   
Stocks 36,660 42,265

DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,237 74,760
Other debtors 117,352 41,977
Directors' loan accounts 5,125 -
Prepayments 4,692 5,182
238,406 121,919

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,649 10,648
Hire purchase contracts (see note 10) 4,662 11,386
Trade creditors 7,972 16,631
Social security and other taxes 57,838 8,623
Other creditors 41,714 54,801
Accruals and deferred income 2,410 2,250
125,245 104,339

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 5,016 15,134
Hire purchase contracts (see note 10) 1,234 5,896
6,250 21,030

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,649 10,648

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,016 15,134

The hire purchase liabilities are secured against the assets to which they relate.

DENVER DRILLING SERVICES LIMITED (REGISTERED NUMBER: 07500159)

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


10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 4,662 11,386
Between one and five years 1,234 5,896
5,896 17,282

Non-cancellable operating leases
2024 2023
£    £   
Within one year 13,457 6,532
Between one and five years 39,283 24,496
52,740 31,028

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100