Company registration number 03765177 (England and Wales)
LMR DRILLING UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LMR DRILLING UK LTD
CONTENTS
Page
Statement of income and retained earnings
1
Balance sheet
2
Notes to the financial statements
3 - 9
LMR DRILLING UK LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -
2025
2024
Notes
£
£
Turnover
888,113
860,485
Cost of sales
(804,062)
(658,057)
Gross profit
84,051
202,428
Administrative expenses
(980,546)
(726,135)
Other operating income
616,461
153,567
Operating loss
(280,034)
(370,140)
Interest receivable and similar income
57,459
107,137
Loss before taxation
(222,575)
(263,003)
Tax on loss
-
0
-
0
Loss for the financial year
(222,575)
(263,003)
Retained earnings brought forward
3,450,626
3,713,629
Retained earnings carried forward
3,228,051
3,450,626

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LMR DRILLING UK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
37,853
40,859
Current assets
Debtors
6
440,650
272,201
Cash at bank and in hand
2,923,534
3,217,347
3,364,184
3,489,548
Creditors: amounts falling due within one year
7
(145,986)
(51,781)
Net current assets
3,218,198
3,437,767
Total assets less current liabilities
3,256,051
3,478,626
Provisions for liabilities
(13,000)
(13,000)
Net assets
3,243,051
3,465,626
Capital and reserves
Called up share capital
15,000
15,000
Profit and loss reserves
3,228,051
3,450,626
Total equity
3,243,051
3,465,626

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 May 2026 and are signed on its behalf by:
Mr J Seamans
Director
Company registration number 03765177 (England and Wales)
LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

LMR Drilling UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Egerton House, 2 Tower Road, Birkenhead, Wirral, Merseyside, CH41 1FN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Prior period restatement

The comparative profit and loss account figures have been restated to better reflect the nature of the company's operations and to improve comparability with the current financial year. Costs amounting to £152,920 have been moved from cost of sales to administrative costs.

1.3
Turnover

Turnover represents the measure of work done on contracts, net of value added tax, after provisions for contingencies and anticipated future losses on contracts, including amounts not invoiced.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The profit recognised reflects the proportion of work completed to date on the contract determined by reference to the proportion of the value of work completed to total contract value.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
20% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Amounts recoverable on contracts

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured on an output basis with reference to applications for payments made by the company for certified works completed, against contracted works with the contractors, in that period. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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 considered to be 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.

The directors do not consider there to be any estimates and assumptions in connection with the preparation of the company's year ended 31 December 2025 financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities at the balance sheet date 31 December 2025.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Civil engineering contracts

A significant area of judgement for the company relates to revenue recognition on long-term contracts. Revenue and attributable profit are recognised based on the stage of completion of individual contracts, assessed by reference to project milestones achieved. This method requires management to make estimates regarding stage of completion based on activity completed for each milestone.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
14
14
LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
149,141
146,248
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
13,410
5,224
33,996
52,950
105,580
Additions
7,333
270
5,976
-
0
13,579
At 31 December 2025
20,743
5,494
39,972
52,950
119,159
Depreciation and impairment
At 1 January 2025
6,857
3,003
29,268
25,593
64,721
Depreciation charged in the year
2,775
787
2,433
10,590
16,585
At 31 December 2025
9,632
3,790
31,701
36,183
81,306
Carrying amount
At 31 December 2025
11,111
1,704
8,271
16,767
37,853
At 31 December 2024
6,553
2,221
4,728
27,357
40,859
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
217,463
130,611
Amounts owed by group undertakings
104,512
120,000
Other debtors
872
672
Prepayments and accrued income
117,803
20,918
440,650
272,201
LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
18,717
2,517
Taxation and social security
21,804
29,336
Other creditors
1,825
4,330
Accruals and deferred income
103,640
15,598
145,986
51,781
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Adam McGowan
Statutory Auditor:
Mitchell Charlesworth (Audit) Limited
Date of audit report:
20 May 2026
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
51,268
109,080
10
Directors' transactions

At the year end, the company was owed £nil (202 4: £nil) by director, Mr J Seamans. Repayments in the year were made of £2,333.

11
Parent company
LMR DRILLING UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Parent company
(Continued)
- 9 -

The immediate parent company is LMR Drilling GmbH, a company incorporated in Germany.

The ultimate controlling party is DGL Beteilgungsgesellschaft mitbeschrankter Haftung Oldenburg, a company incorporated in Germany.

2025-12-31 2025-01-01 false false false 20 May 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr J Seamans Mr E G Fengler Mr H F Janz Mr J Seamans 03765177 2025-01-01 2025-12-31 03765177 2024-01-01 2024-12-31 03765177 core:RetainedEarningsAccumulatedLosses 2024-12-31 03765177 core:RetainedEarningsAccumulatedLosses 2023-12-31 03765177 core:ShareCapital 2025-12-31 03765177 core:ShareCapital 2024-12-31 03765177 core:RetainedEarningsAccumulatedLosses 2025-12-31 03765177 core:RetainedEarningsAccumulatedLosses 2024-12-31 03765177 2025-12-31 03765177 2024-12-31 03765177 core:PlantMachinery 2025-12-31 03765177 core:FurnitureFittings 2025-12-31 03765177 core:ComputerEquipment 2025-12-31 03765177 core:MotorVehicles 2025-12-31 03765177 core:PlantMachinery 2024-12-31 03765177 core:FurnitureFittings 2024-12-31 03765177 core:ComputerEquipment 2024-12-31 03765177 core:MotorVehicles 2024-12-31 03765177 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03765177 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03765177 bus:CompanySecretaryDirector1 2025-01-01 2025-12-31 03765177 core:PlantMachinery 2025-01-01 2025-12-31 03765177 core:FurnitureFittings 2025-01-01 2025-12-31 03765177 core:ComputerEquipment 2025-01-01 2025-12-31 03765177 core:MotorVehicles 2025-01-01 2025-12-31 03765177 core:PlantMachinery 2024-12-31 03765177 core:FurnitureFittings 2024-12-31 03765177 core:ComputerEquipment 2024-12-31 03765177 core:MotorVehicles 2024-12-31 03765177 2024-12-31 03765177 core:CurrentFinancialInstruments 2025-12-31 03765177 core:CurrentFinancialInstruments 2024-12-31 03765177 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03765177 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 03765177 bus:FRS102 2025-01-01 2025-12-31 03765177 bus:Audited 2025-01-01 2025-12-31 03765177 bus:Director1 2025-01-01 2025-12-31 03765177 bus:Director2 2025-01-01 2025-12-31 03765177 bus:Director3 2025-01-01 2025-12-31 03765177 bus:CompanySecretary1 2025-01-01 2025-12-31 03765177 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP