Acorah Software Products - Accounts Production 16.7.461 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 NI649786 Mr Jim Ryan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI649786 2023-12-31 NI649786 2024-12-31 NI649786 2024-01-01 2024-12-31 NI649786 frs-core:Non-currentFinancialInstruments 2024-12-31 NI649786 frs-core:BetweenOneFiveYears 2024-12-31 NI649786 frs-core:PlantMachinery 2024-01-01 2024-12-31 NI649786 frs-core:WithinOneYear 2024-12-31 NI649786 frs-core:ShareCapital 2024-12-31 NI649786 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI649786 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI649786 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 NI649786 frs-bus:SmallEntities 2024-01-01 2024-12-31 NI649786 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 NI649786 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI649786 frs-bus:Director1 2024-01-01 2024-12-31 NI649786 frs-countries:NorthernIreland 2024-01-01 2024-12-31 NI649786 2022-12-31 NI649786 2023-12-31 NI649786 2023-01-01 2023-12-31 NI649786 frs-core:Non-currentFinancialInstruments 2023-12-31 NI649786 frs-core:BetweenOneFiveYears 2023-12-31 NI649786 frs-core:WithinOneYear 2023-12-31 NI649786 frs-core:ShareCapital 2023-12-31 NI649786 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: NI649786
Core Drilling Services Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Mountsides Limited
2 Mountside
Stanmore
Middlesex
HA7 2DT
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: NI649786
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 152,364 105,480
152,364 105,480
CURRENT ASSETS
Debtors 1,039 11,391
Cash at bank and in hand 17,691 12,939
18,730 24,330
Creditors: Amounts Falling Due Within One Year (35,778 ) (45,696 )
NET CURRENT ASSETS (LIABILITIES) (17,048 ) (21,366 )
TOTAL ASSETS LESS CURRENT LIABILITIES 135,316 84,114
Creditors: Amounts Falling Due After More Than One Year (37,766 ) (20,723 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,949 ) (20,041 )
NET ASSETS 68,601 43,350
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 68,501 43,250
SHAREHOLDERS' FUNDS 68,601 43,350
Page 1
Page 2
For the year ending 31 December 2024 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Jim Ryan
Director
2 December 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Core Drilling Services Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI649786 . The registered office is Room SF2 (Mind Your Business (N.I.) Ltd, 11 - 14 Newry Street, Warrenpoint, Newry, Co. Down, BT34 3JZ.
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 represents the invoiced sales of services, excluding value added tax.
Revenue has also been recognised in respect of on-going services, with the value of work completed but unbilled
at the balance sheet date being taken to turnover and the associated costs, where not invoiced at the date, being
accrued for.
2.3. Tangible Fixed Assets and Depreciation
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:
Plant & Machinery 15% 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 the profit and loss account as incurred.
2.5. 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 January 2024 140,268
Additions 71,500
As at 31 December 2024 211,768
Depreciation
As at 1 January 2024 34,788
Provided during the period 24,616
As at 31 December 2024 59,404
Net Book Value
As at 31 December 2024 152,364
As at 1 January 2024 105,480
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 35,708 29,282
Later than one year and not later than five years 50,402 21,962
86,110 51,244
Less: Finance charges allocated to future periods 17,321 2,891
68,789 48,353
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4