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REGISTERED NUMBER: 02656277 (England and Wales)















Drillwell Limited

Unaudited Financial Statements

For The Year Ended 31 October 2024






Drillwell Limited (Registered number: 02656277)






Contents of the Financial Statements
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Drillwell Limited

Company Information
For The Year Ended 31 October 2024







DIRECTOR: M Elcock





REGISTERED OFFICE: Unit 1
Rotherham Close
Killamarsh
Sheffield
South Yorkshire
S21 2JU





REGISTERED NUMBER: 02656277 (England and Wales)





ACCOUNTANTS: Roddis Taylor Robinson
Chartered Accountants
Unit 6, Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

Drillwell Limited (Registered number: 02656277)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 112,653 109,362
Investment property 5 360,000 360,000
472,653 469,362

CURRENT ASSETS
Stocks 147,904 244,141
Debtors 6 363,636 323,383
Cash at bank and in hand 510,740 317,721
1,022,280 885,245
CREDITORS
Amounts falling due within one year 7 227,527 147,455
NET CURRENT ASSETS 794,753 737,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,267,406

1,207,152

PROVISIONS FOR LIABILITIES 56,892 56,069
NET ASSETS 1,210,514 1,151,083

CAPITAL AND RESERVES
Called up share capital 9 75 75
Capital redemption reserve 25 25
Fair value reserve 10 86,186 86,186
Retained earnings 1,124,228 1,064,797
SHAREHOLDERS' FUNDS 1,210,514 1,151,083

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Drillwell Limited (Registered number: 02656277)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 June 2025 and were signed by:





M Elcock - Director


Drillwell Limited (Registered number: 02656277)

Notes to the Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Drillwell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.
Improvements to property - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Income Statement, 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.

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.

Drillwell Limited (Registered number: 02656277)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Government grants
Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 6,333 174,124 58,264 117,613 356,334
Additions - - - 71,990 71,990
Disposals - - - (46,893 ) (46,893 )
At 31 October 2024 6,333 174,124 58,264 142,710 381,431
DEPRECIATION
At 1 November 2023 6,333 161,376 52,105 27,158 246,972
Charge for year - 2,539 1,227 29,043 32,809
Eliminated on disposal - - - (11,003 ) (11,003 )
At 31 October 2024 6,333 163,915 53,332 45,198 268,778
NET BOOK VALUE
At 31 October 2024 - 10,209 4,932 97,512 112,653
At 31 October 2023 - 12,748 6,159 90,455 109,362

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 360,000
NET BOOK VALUE
At 31 October 2024 360,000
At 31 October 2023 360,000

The company's investment property was valued by the director as at 31 October 2023 on an open market value for existing use basis.

Drillwell Limited (Registered number: 02656277)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 262,417 228,624
Other debtors 101,219 94,759
363,636 323,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 13,882
Trade creditors 153,133 101,004
Taxation and social security 50,503 13,161
Other creditors 23,891 19,408
227,527 147,455

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase - 13,882

The hire purchase creditor is secured on the underlying assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary £1 75 75

10. RESERVES
Fair
value
reserve
£   
At 1 November 2023
and 31 October 2024 86,186

Drillwell Limited (Registered number: 02656277)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
M Elcock
Balance outstanding at start of year 56,354 73,242
Amounts advanced 29,832 29,587
Amounts repaid (39,350 ) (46,475 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,836 56,354

The above advances are interest free and have no specific repayment terms.

Drillwell Limited

Report of the Accountants to the Director of
Drillwell Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report may not be relied upon by any person for any other purpose whatsoever.

Roddis Taylor Robinson neither owes nor accepts any duty to any other party and shall not be liable for any loss, damage or expenses of whatsoever nature which is caused by their reliance on these accounts.






Roddis Taylor Robinson
Chartered Accountants
Unit 6, Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB


18 June 2025