Company Registration No. 06192021 (England and Wales)
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Unaudited accounts
for the year ended 30 April 2025
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Unaudited accounts
Contents
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Company Information
for the year ended 30 April 2025
Secretary
MISS JANE TAYLOR
Company Number
06192021 (England and Wales)
Registered Office
11 WENTWORTH ROAD
HEATHFIELD INDUSTRIAL ESTATE
NEWTON ABBOT
DEVON
TQ12 6TL
Accountants
MCADAM & CO LTD
36 Highglen Drive
Plymouth
PL7 5LA
Accountants' report on the preparation of the unaudited statutory statements of 24-7 DIAMOND DRILLING & SAWING SERVICES LTD (The Company) for the year ended 30 April 2025
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 30 April 2025 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 30 April 2025.
We have not been instructed to carry out any assurance service on the financial statements of the company. 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 statutory financial statements.
MCADAM & CO LTD
Financial Accountants
36 Highglen Drive
Plymouth
PL7 5LA
1 July 2025
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Statement of financial position
as at 30 April 2025
Tangible assets
838,600
808,277
Inventories
146,000
54,000
Cash at bank and in hand
152,456
1,009
Creditors: amounts falling due within one year
(574,134)
(471,045)
Net current liabilities
(30,684)
(172,481)
Total assets less current liabilities
807,916
640,212
Creditors: amounts falling due after more than one year
(136,766)
(229,622)
Provisions for liabilities
Deferred tax
(77,497)
(63,129)
Net assets
593,653
347,461
Called up share capital
5
5
Profit and loss account
593,648
347,456
Shareholders' funds
593,653
347,461
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 July 2025 and were signed on its behalf by
DAVID WHITBREAD
Director
Company Registration No. 06192021
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2025
24-7 DIAMOND DRILLING & SAWING SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 06192021. The registered office is 11 WENTWORTH ROAD, HEATHFIELD INDUSTRIAL ESTATE, NEWTON ABBOT, DEVON, TQ12 6TL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2025
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 May 2024
264,862
877,385
364,650
1,459
8,554
1,516,910
Additions
-
28,789
98,758
-
-
127,547
Revaluations
-
-
(21,132)
-
-
(21,132)
Disposals
-
-
(8,000)
-
-
(8,000)
At 30 April 2025
264,862
906,174
434,276
1,459
8,554
1,615,325
At 1 May 2024
-
561,741
136,879
1,459
8,554
708,633
Charge for the year
-
34,444
57,896
-
-
92,340
Surplus on revaluation
-
-
(21,132)
-
-
(21,132)
On disposals
-
-
(3,116)
-
-
(3,116)
At 30 April 2025
-
596,185
170,527
1,459
8,554
776,725
At 30 April 2025
264,862
309,989
263,749
-
-
838,600
At 30 April 2024
264,862
315,644
227,771
-
-
808,277
Amounts falling due within one year
Trade debtors
203,266
203,501
Accrued income and prepayments
-
1,011
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
59,527
63,098
Obligations under finance leases and hire purchase contracts
108,415
100,262
Trade creditors
133,107
129,508
Taxes and social security
126,603
21,827
Loans from directors
144,482
154,350
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
110,880
148,949
9
Deferred taxation
2025
2024
Accelerated capital allowances
77,497
63,129
Provision at start of year
63,129
54,394
Charged to the profit and loss account
14,368
8,735
Provision at end of year
77,497
63,129
Allotted, called up and fully paid:
5 Ordinary shares of £1 each
5
5
11
Operating lease commitments
2025
2024
At 30 April 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
5
Later than one year and not later than five years
6
-
24-7 DIAMOND DRILLING & SAWING SERVICES LTD
Notes to the Accounts
for the year ended 30 April 2025
12
Guarantees provided on behalf of directors
Maximum Liability Under Guarantees
Amount paid and liability incurred
It is a long standing guarantee predating the purchase of commercial property.
13
Average number of employees
During the year the average number of employees was 24 (2024: 24).