Adex Drilling Services (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07940052 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Adex Drilling Services (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J A Jones

A H Jones

SECRETARY:

A H Jones

REGISTERED OFFICE:

Unit 2 Beechnut Industrial Estate

Beechnut Road

Aldershot

Hampshire

GU12 4JA

REGISTERED NUMBER:

07940052 (England and Wales)

ACCOUNTANTS:

Butt Miller

Chartered Accountants

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

FIXED ASSETS

Intangible assets

4

37,969

43,394

Tangible assets

5

149,094

167,219

187,063

210,613

CURRENT ASSETS

Stocks

6

282,800

272,998

Debtors

7

562,703

536,915

Cash at bank

17,495

73,577

862,998

883,490

CREDITORS

Amounts falling due within one year

8

(470,685

)

(575,915

)

NET CURRENT ASSETS

392,313

307,575

TOTAL ASSETS LESS CURRENT
LIABILITIES

579,376

518,188

CREDITORS

Amounts falling due after more than one
year

9

(248,583

)

(162,683

)

PROVISIONS FOR LIABILITIES

(28,289

)

(31,772

)

NET ASSETS

302,504

323,733

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

301,504

322,733

302,504

323,733

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 10 December 2025 and were signed on its behalf by:

A H Jones - Director

1.	STATUTORY INFORMATION

Adex Drilling Services (UK) 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.

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

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

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

-

10% on cost

Office equipment

-

20% on cost

Motor vehicles

-

20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 operating leases

Assets obtained under hire purchase contracts are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

108,500

AMORTISATION

At 1 April 2024

65,106

Charge for year

5,425

At 31 March 2025

70,531

NET BOOK VALUE

At 31 March 2025

37,969

At 31 March 2024

43,394

5.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

machinery

equipment

vehicles

Totals

£

COST

At 1 April 2024

335,737

15,270

510,845

861,852

Additions

-

45,801

Disposals

-

(40,275

)

(40,275

)

At 31 March 2025

335,737

15,270

516,371

867,378

DEPRECIATION

At 1 April 2024

265,151

15,086

414,396

694,633

Charge for year

27,441

184

26,487

54,112

Eliminated on disposal

-

(30,461

)

(30,461

)

At 31 March 2025

292,592

15,270

410,422

718,284

NET BOOK VALUE

At 31 March 2025

43,145

-

105,949

149,094

At 31 March 2024

70,586

184

96,449

167,219

6.

STOCKS

2025

2024

£

Stocks

90,000

Work in progress

192,800

182,998

282,800

272,998

7.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

152,317

128,090

Other debtors

19,515

19,273

171,832

147,363

Amounts falling due after more than one year:

Amounts recoverable on contract

390,871

389,552

Aggregate amounts

562,703

536,915

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other loans

123,965

191,504

Hire purchase contracts

14,503

3,418

Trade creditors

19,052

18,196

Tax

16,367

31,134

Social security and other taxes

3,204

11,864

CIS

25,175

143,852

VAT

99,299

52,766

Other creditors

27,691

30,299

Directors' current accounts

136,759

88,432

Accruals and deferred income

4,670

4,450

470,685

575,915

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other loans - 1-2 years

84,607

119,174

Other loans - 2-5 years

11,569

43,509

Hire purchase contracts

10,517

-

Social security and other taxes

16,018

-

CIS

125,872

-

248,583

162,683

10.	SECURED DEBTS

There is a floating charge over all of the property and undertakings of the company in favour of Suntrust Limited, Julia Ann Jones, Anthony Howard Jones and Adex Drilling Services (UK) Limited Retirement Benefits Scheme.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mrs J A Jones and A H Jones

Balance outstanding at start of year

(88,432

)

(48,819

)

Amounts advanced

171,138

79,492

Amounts repaid

(219,465

)

(119,105

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(136,759

)

(88,432

)

The above loan is unsecured, interest free and repayable on demand.