Oilfield Testing Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04210596

Oilfield Testing Services Limited

Unaudited financial statements

31 March 2025

Oilfield Testing Services Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		599,585		572,100

Current assets

Debtors	6	441,743	357,217
Cash at bank and in hand		1,297,493	1,578,042
		-----------	-----------
		1,739,236	1,935,259

Creditors: Amounts falling due within one year	7	( 100,401)		( 113,570)
		-----------		-----------
Net current assets			1,638,835		1,821,689
			-----------		-----------
Total assets less current liabilities			2,238,420		2,393,789

Provisions	( 20,145)	( 56,512)
	-----------	-----------
Net assets	2,218,275	2,337,277
	-----------	-----------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		2,218,175	2,337,177
		-----------	-----------
Shareholders funds		2,218,275	2,337,277
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 November 2025 , and are signed on behalf of the board by:

P G J Furlong
Director

Company registration number: 04210596

Oilfield Testing Services Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and trading address is Qualtest House, Viking Road, Gapton Hall Industrial Estate, Great Yarmouth, Norfolk, NR31 0NU, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and Fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	15% reducing balance

4. Employee numbers

The average number of employees during the year was 15 (2024: 14 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 April 2024	357,739	717,355	23,960	71,288	27,700	1,198,042
Additions	–	4,715	–	89,655	3,597	97,967
Disposals	–	–	–	( 27,922)	–	( 27,922)
	---------	---------	-------	---------	-------	-----------
At 31 March 2025	357,739	722,070	23,960	133,021	31,297	1,268,087
	---------	---------	-------	---------	-------	-----------
Depreciation
At 1 April 2024	28,544	507,020	13,719	60,480	16,179	625,942
Charge for the year	7,154	31,839	1,536	22,566	2,003	65,098
Disposals	–	–	–	( 22,538)	–	( 22,538)
	---------	---------	-------	---------	-------	-----------
At 31 March 2025	35,698	538,859	15,255	60,508	18,182	668,502
	---------	---------	-------	---------	-------	-----------
Carrying amount
At 31 March 2025	322,041	183,211	8,705	72,513	13,115	599,585
	---------	---------	-------	---------	-------	-----------
At 31 March 2024	329,195	210,335	10,241	10,808	11,521	572,100
	---------	---------	-------	---------	-------	-----------

6. Debtors

	2025	2024
	£	£
Trade debtors	365,503	317,198
Other debtors	76,240	40,019
	---------	---------
	441,743	357,217
	---------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	32,577	12,319
Social security and other taxes	28,975	67,412
Other creditors	38,849	33,839
	---------	---------
	100,401	113,570
	---------	---------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Director's advances, credits and guarantees

At the year end the directors owed the company £25,319 (2024: £3,949) being the balance on their interest free directors loan account.