Registered number
SC193787
Rock Drilling Tools Limited
Filleted Accounts
31 March 2025
Rock Drilling Tools Limited
Registered number: SC193787
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 - 34,382
Current assets
Stocks 11,791 58,548
Debtors 4 28,324 14,815
Cash at bank and in hand 191,967 212,991
232,082 286,354
Creditors: amounts falling due within one year 5 (17,576) (30,897)
Net current assets 214,506 255,457
Total assets less current liabilities 214,506 289,839
Provisions for liabilities - (6,533)
Net assets 214,506 283,306
Capital and reserves
Called up share capital 4 4
Profit and loss account 214,502 283,302
Shareholders' funds 214,506 283,306
Loans from the company to the director are short term and interest free.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Duncan
Director
Approved by the board on 19 June 2025
Rock Drilling Tools Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
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), and with the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Not depreciated
Equipment 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2024 4,502 45,425 49,927
Disposals (1,252) (45,425) (46,677)
At 31 March 2025 3,250 - 3,250
Depreciation
At 1 April 2024 4,189 11,356 15,545
Charge for the year 313 - 313
On disposals (1,252) (11,356) (12,608)
At 31 March 2025 3,250 - 3,250
Net book value
At 31 March 2025 - - -
At 31 March 2024 313 34,069 34,382
4 Debtors 2025 2024
£ £
Trade debtors 18,782 14,815
Other debtors 9,542 -
28,324 14,815
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 1,824 15,751
Corporation tax 4,919 1,456
Other taxes and social security costs 996 623
VAT 4,591 15,233
Other creditors 5,246 (2,166)
17,576 30,897
6 Share capital Nominal 2025 2024
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £0.10 40 4 4
7 Related party transactions
Loans from the directors to the company are interest free and repayable at the directors' discretion.
8 Controlling party
The company is under the control of Mr & Mrs Duncan who own 100% of the issued share capital.
9 Other information
Rock Drilling Tools Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
5 Blackwood Court
Pitreavie Castle
Dunfermline
Fife
KY11 8TF
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