REGISTERED NUMBER: 03691592 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Sherwood Drilling Services Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Miss S Burton

Mr R Cotton

SECRETARY:

Miss S Burton

REGISTERED OFFICE:

108 Church Lane

Brinsley

Nottinghamshire

NG16 5AB

REGISTERED NUMBER:

03691592 (England and Wales)

ACCOUNTANTS:

Wright, Shaw and Partners

14, High Street

Hucknall

Nottinghamshire

NG15 7HD

FIXED ASSETS

80,000

Intangible assets

4

80,000

17,289

Tangible assets

5

14,329

97,289

94,329

CURRENT ASSETS

1,063

Stocks

476

19,948

Debtors

6

3,331

23,049

Cash at bank and in hand

16,939

44,060

20,746

CREDITORS

66,985

Amounts falling due within one year

7

47,170

(22,925

)

NET CURRENT LIABILITIES

(26,424

)

74,364

TOTAL ASSETS LESS CURRENT LIABILITIES

67,905

3,285

PROVISIONS FOR LIABILITIES

2,723

71,079

NET ASSETS

65,182

CAPITAL AND RESERVES

2

Called up share capital

2

71,077

Retained earnings

65,180

71,079

SHAREHOLDERS' FUNDS

65,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr R Cotton - Director

Miss S Burton - Director

1.	STATUTORY INFORMATION

Sherwood Drilling Services Ltd. 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.

Goodwill

The directors have decided not to amortise the goodwill purchased in 1999.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

80,000

NET BOOK VALUE

At 31 January 2025

80,000

At 31 January 2024

80,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

Totals

machinery

fittings

vehicles

equipment

£

£

£

£

£

COST

At 1 February 2024

164,400

102,363

2,842

55,420

3,775

Additions

240

-

-

-

240

At 31 January 2025

164,640

102,363

2,842

55,420

4,015

DEPRECIATION

At 1 February 2024

147,111

93,490

1,096

49,712

2,813

Charge for year

3,200

1,331

262

1,427

180

At 31 January 2025

150,311

94,821

1,358

51,139

2,993

NET BOOK VALUE

At 31 January 2025

14,329

7,542

1,484

4,281

1,022

At 31 January 2024

17,289

8,873

1,746

5,708

962

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

2,518

19,663

Other debtors

813

285

3,331

19,948

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

5,031

12,058

Trade creditors

2,317

2,264

Taxation and social security

5,888

14,022

Other creditors

33,934

38,641

47,170

66,985

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2025 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wright, Shaw and Partners

14, High Street

Hucknall

Nottinghamshire

NG15 7HD

30 September 2025