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Registered number: 7066906
SOUTHEASTERN DRILLING SERVICES LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2024
JENNIFER M RICHARDSON LIMITED
32 Station Road
Rainham
Gillingham
Kent
ME8 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 7066906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 231,559 227,852
231,559 227,852
CURRENT ASSETS
Debtors 5 180,464 153,532
Cash at bank and in hand 190,539 235,845
371,003 389,377
Creditors: Amounts Falling Due Within One Year 6 (130,822 ) (140,093 )
NET CURRENT ASSETS (LIABILITIES) 240,181 249,284
TOTAL ASSETS LESS CURRENT LIABILITIES 471,740 477,136
Creditors: Amounts Falling Due After More Than One Year 7 - (15,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,269 ) (24,428 )
NET ASSETS 452,471 437,708
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 452,467 437,704
SHAREHOLDERS' FUNDS 452,471 437,708
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr SONNY WORRALL
Director
18/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SOUTHEASTERN DRILLING SERVICES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 7066906 . The registered office is 55 Seathorpe Avenue, Minster-on-Sea, Sheerness, KENT, ME12 2LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 25% reducing balance
Motor Vehicles 15% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 December 2023 130,142 351,374 58,343 539,859
Additions - 571 28,875 29,446
As at 30 November 2024 130,142 351,945 87,218 569,305
Depreciation
As at 1 December 2023 - 285,278 26,729 312,007
Provided during the period - 16,666 9,073 25,739
As at 30 November 2024 - 301,944 35,802 337,746
Net Book Value
As at 30 November 2024 130,142 50,001 51,416 231,559
As at 1 December 2023 130,142 66,096 31,614 227,852
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 26,871 31,614
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 179,789 152,857
Other debtors 675 675
180,464 153,532
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,000 15,000
Trade creditors 63,710 49,228
Corporation tax 11,737 26,482
Other taxes and social security 10,203 7,703
VAT 23,545 38,568
Other creditors 2,320 2,320
Director's loan account 4,307 792
130,822 140,093
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 15,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr S. Worrall by virtue of his ownership of 100% of the issued share capital in the company.
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