REGISTERED NUMBER: 11284680 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

FOR

CHAPEL DRILLING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Selwood

SECRETARY:

REGISTERED OFFICE:

92 Nore Road

Portishead

Bristol

BS20 8DX

REGISTERED NUMBER:

11284680 (England and Wales)

ACCOUNTANTS:

Lapin Associates Limited

92 Nore Road

Portishead

Bristol

BS208DX

FIXED ASSETS

Tangible assets

4

132,055

140,564

CURRENT ASSETS

Debtors

5

107,927

112,540

Cash at bank

28,262

13,967

136,189

126,507

CREDITORS

Amounts falling due within one year

6

198,590

140,994

NET CURRENT LIABILITIES

(62,401

)

(14,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

69,654

126,077

CREDITORS

Amounts falling due after more than one year

7

9,636

29,462

NET ASSETS

60,018

96,615

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

60,016

96,613

60,018

96,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 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 8 May 2025 and were signed by:

M A Selwood - Director

1.	STATUTORY INFORMATION

Chapel Drilling Services 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.

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 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 March 2024

189,192

Additions

16,900

At 30 March 2025

206,092

DEPRECIATION

At 31 March 2024

48,628

Charge for year

25,409

At 30 March 2025

74,037

NET BOOK VALUE

At 30 March 2025

132,055

At 30 March 2024

140,564

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

40,903

63,206

Other debtors

67,024

49,334

107,927

112,540

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

7,600

11,500

Hire purchase contracts

16,844

16,844

Trade creditors

24,613

5,496

Taxation and social security

149,215

106,906

Other creditors

318

248

198,590

140,994

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

2,583

Hire purchase contracts

9,636

26,879

9,636

29,462