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SOUTH EAST DIAMOND DRILLING SERVICES LTD

Registered Number
14109865
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

SOUTH EAST DIAMOND DRILLING SERVICES LTD
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors

GILL, Amarjit Singh
MAY, Martin Richard

Registered Address

3rd Floor, 86-90 Paul Street
London
EC2A 4NE

Registered Number

14109865 (England and Wales)
SOUTH EAST DIAMOND DRILLING SERVICES LTD
Balance Sheet as at
31 May 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets382,22139,879
82,22139,879
Current assets
Debtors224,260108,255
Cash at bank and on hand14,56913,389
238,829121,644
Creditors amounts falling due within one year(244,771)(155,931)
Net current assets (liabilities)(5,942)(34,287)
Total assets less current liabilities76,2795,592
Net assets76,2795,592
Capital and reserves
Called up share capital100100
Profit and loss account76,1795,492
Shareholders' funds76,2795,592
The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2025, and are signed on its behalf by:
MAY, Martin Richard
Director
Registered Company No. 14109865
SOUTH EAST DIAMOND DRILLING SERVICES LTD
Notes to the Financial Statements
for the year ended 31 May 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20252024
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 2449,374
Additions59,878
At 31 May 25109,252
Depreciation and impairment
At 01 June 249,495
Charge for year17,536
At 31 May 2527,031
Net book value
At 31 May 2582,221
At 31 May 2439,879