REGISTERED NUMBER: 11070303 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GBS DIAMOND DRILLING LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

4

285,961

70,216

Cash at bank

67,074

340,127

353,035

410,343

CREDITORS

Amounts falling due within one year

5

115,794

206,144

NET CURRENT ASSETS

237,241

204,199

TOTAL ASSETS LESS CURRENT LIABILITIES

237,241

204,199

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

237,121

204,079

237,241

204,199

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 18 December 2025 and were signed on its behalf by:

Mr S R Heydon - Director

1.	STATUTORY INFORMATION

GBS Diamond Drilling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11070303

Registered office:

104 High Street

London Colney

St. Albans

Hertfordshire

AL2 1QL

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue comprises amounts invoiced to customers for goods supplied during the year, net of credits for returns and allowances and excluding value added tax. Revenue is recognised when all of the following conditions are satisfied:

1) the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

2) the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

3) the amount of revenue can be measured reliably;

4) it is probable that the economic benefits associated with the transaction will flow to the entity; and

5) the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue is measured based on the transaction price, as specified in the agreement with the customer. Each customer order is a separate transaction.

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 material 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.

Pension costs and other post-retirement benefits

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

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 5 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

91,795

25,888

Other debtors

194,166

44,328

285,961

70,216

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,751

11,873

Taxation and social security

6,359

5,115

Other creditors

94,684

189,156

115,794

206,144

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors less than one year is an amount of £58,125 (2024: £8,787 due to) due from the connected companies with common directorship and shareholdings. This amount was interest-free and recoverable on demand.

Included in other creditors less than one year is an amount of £77,019 (2024: £125,511) due to the connected companies with common directorship and shareholdings. This amount was interest-free and repayable on demand.