REGISTERED NUMBER: SC390418 (Scotland)

LYNX DRILLING TOOLS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A M Macrae

REGISTERED OFFICE:

220 King's Gate

Aberdeen

AB15 6DQ

REGISTERED NUMBER:

SC390418 (Scotland)

FIXED ASSETS

Tangible assets

4

74

304

Investments

5

4,500

4,500

4,574

4,804

CURRENT ASSETS

Stocks

15,541

14,469

Debtors

6

964,200

963,069

Cash at bank

7,592

8,710

987,333

986,248

CREDITORS

Amounts falling due within one year

7

124,136

65,887

NET CURRENT ASSETS

863,197

920,361

TOTAL ASSETS LESS CURRENT LIABILITIES

867,771

925,165

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

867,766

925,160

SHAREHOLDERS' FUNDS

867,771

925,165

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 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.

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 15 August 2025 and were signed by:

A M Macrae - Director

1.	STATUTORY INFORMATION

Lynx Drilling Tools Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents sales of goods and services provided in the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

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 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 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.

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.

Fixed asset investments

Fixed asset investments are stated at cost and reviewed for impairment as required.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

54,196

DEPRECIATION

At 1 January 2024

53,892

Charge for year

230

At 31 December 2024

54,122

NET BOOK VALUE

At 31 December 2024

74

At 31 December 2023

304

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 January 2024

and 31 December 2024

4,500

NET BOOK VALUE

At 31 December 2024

4,500

At 31 December 2023

4,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

94,249

73,163

Other debtors

869,771

888,658

Tax recoverable

180

1,248

964,200

963,069

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

52,483

36,655

Taxation and social security

600

1,117

Other creditors

71,053

28,115

124,136

65,887

8.	RELATED PARTY DISCLOSURES