M8Trix Drilling Consultancy Limited

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Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the director on the preparation of the unaudited statutory accounts of M8Trix Drilling Consultancy Limited for the year ended 30 June 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M8Trix Drilling Consultancy Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of M8Trix Drilling Consultancy Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of M8Trix Drilling Consultancy Limited and state those matters that we have agreed to state to the director of M8Trix Drilling Consultancy Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M8Trix Drilling Consultancy Limited and its director as a body for our work or for this report.

It is your duty to ensure that M8Trix Drilling Consultancy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of M8Trix Drilling Consultancy Limited . You consider that M8Trix Drilling Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of M8Trix Drilling Consultancy Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

21 October 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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M8Trix Drilling Consultancy Limited

Balance Sheet

As At 30 June 2025

Balance Sheet

Registered number: SC634723

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		70,525		88,531

			70,525		88,531
CURRENT ASSETS
Debtors	5	40,489		40,145
Cash at bank and in hand		126,760		133,647

		167,249		173,792
Creditors: Amounts Falling Due Within One Year	6	(55,750 )		(49,297 )

NET CURRENT ASSETS (LIABILITIES)			111,499		124,495

TOTAL ASSETS LESS CURRENT LIABILITIES			182,024		213,026

Creditors: Amounts Falling Due After More Than One Year	7		(23,723 )		(36,322 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(10,219 )		(13,804 )

NET ASSETS			148,082		162,900

CAPITAL AND RESERVES
Called up share capital			2		2
Profit and Loss Account			148,080		162,898

SHAREHOLDERS' FUNDS			148,082		162,900

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M8Trix Drilling Consultancy Limited

Balance Sheet (continued)

As At 30 June 2025

For the year ending 30 June 2025 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 S Reynolds

Director

20 October 2025

The notes on pages 4 to 7 form part of these financial statements.

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M8Trix Drilling Consultancy Limited

Notes to the Financial Statements

For The Year Ended 30 June 2025

Notes to the Financial Statements

1. General Information

M8Trix Drilling Consultancy Limited is a private company, limited by shares, incorporated in Scotland, registered number SC634723 . The registered office is 5 St Machar Place, Aboyne, AB34 5FJ.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Improvements to property	10% on cost
Plant & Machinery	20% on cost
Motor Vehicles	20% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	33% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

...CONTINUED

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M8Trix Drilling Consultancy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.5. Financial Instruments - continued

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. 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 years 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

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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Improvements to property	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 July 2024	36,678	2,986	67,441	489
Additions	-	-	-	180
Disposals	-	-	-	(339 )

As at 30 June 2025	36,678	2,986	67,441	330

...CONTINUED

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M8Trix Drilling Consultancy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

Depreciation
As at 1 July 2024	3,362	197	16,663	293
Provided during the period	3,668	597	13,488	75
Disposals	-	-	-	(254 )

As at 30 June 2025	7,030	794	30,151	114

Net Book Value
As at 30 June 2025	29,648	2,192	37,290	216

As at 1 July 2024	33,316	2,789	50,778	196


	Computer Equipment	Total
	£	£
Cost
As at 1 July 2024	5,457	113,051
Additions	700	880
Disposals	(783 )	(1,122 )

As at 30 June 2025	5,374	112,809

Depreciation
As at 1 July 2024	4,005	24,520
Provided during the period	973	18,801
Disposals	(783 )	(1,037 )

As at 30 June 2025	4,195	42,284

Net Book Value
As at 30 June 2025	1,179	70,525

As at 1 July 2024	1,452	88,531

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	36,502	49,775

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	40,308	37,491
Prepayments and accrued income	-	2,289
VAT	181	365

	40,489	40,145

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M8Trix Drilling Consultancy Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	12,599	12,364
Trade creditors	245	629
Corporation tax	32,860	33,002
Other taxes and social security	1,768	1,619
Other creditors	970	1,154
Accruals and deferred income	284	161
Director's loan account	7,024	368

	55,750	49,297

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	23,723	36,322

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	12,599	12,364
Later than one year and not later than five years	23,723	36,322

	36,322	48,686

	36,322	48,686

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 July 2024	13,804	13,804
Deferred taxation	(3,585 )	(3,585 )

Balance at 30 June 2025	10,219	10,219

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 July 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 June 2025
	£	£	£	£	£
Mr Scott Reynolds	(368 )	1,553	(8,209 )	-	(7,024 )

The above loan is interest free and has no fixed repayment terms.

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr S Reynolds.

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