Company registration number: 03691592
Annual report and unaudited financial statements
for the year ended 31 January 2026
for
Sherwood Drilling Services Ltd.
Pages for filing with the Registrar
Company registration number: 03691592
Sherwood Drilling Services Ltd.
Balance sheet
as at 31 January 2026
2026 2025
Note £ £ £ £
Fixed assets
Intangible assets 4 80,000 80,000
Tangible assets 5 9,759 14,329
89,759 94,329
Current assets
Stocks 2,109 476
Debtors 6 18,800 3,331
Cash at bank and in hand 24,689 16,939
45,598 20,746
Creditors: amounts falling due within one year
7 (48,175) (47,170)
Net current liabilities (2,577) (26,424)
Total assets less current liabilities 87,182 67,905
Provisions for liabilities (1,854) (2,723)
NET ASSETS 85,328 65,182
Capital and reserves
Called up share capital 2 2
Profit and loss account 85,326 65,180
TOTAL EQUITY 85,328 65,182
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 January 2026.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 03691592
Sherwood Drilling Services Ltd.
Balance sheet - continued
as at 31 January 2026
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 6 October 2026 and signed on its behalf by:
Miss S Burton, Director Mr R Cotton, Director
6 October 2026 6 October 2026
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Sherwood Drilling Services Ltd.
Notes to the financial statements
for the year ended 31 January 2026
1 Company information
Sherwood Drilling Services Ltd. is a private company registered in England and Wales. Its registered number is 03691592. The company is limited by shares. Its registered office is 108 Church Lane, Brinsley, Nottinghamshire, NG16 5AB.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - The directors have decided not to amortise the goodwill purchased in 1999.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 15% reducing balance
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Sherwood Drilling Services Ltd.
Notes to the financial statements - continued
for the year ended 31 January 2026
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3 Average number of employees
During the year the average number of employees was 3 (2025 - 3).
4 Intangible assets
Goodwill
£
Cost
At 1 February 2025 80,000
At 31 January 2026 80,000
Amortisation
At 31 January 2026 -
4
Sherwood Drilling Services Ltd.
Notes to the financial statements - continued
for the year ended 31 January 2026
4 Intangible assets - continued
Net book value
At 31 January 2026 80,000
At 31 January 2025 80,000
5 Tangible fixed assets
Plant and machinery etc.

£
Cost
At 1 February 2025 164,640
Disposals (26,485)
At 31 January 2026 138,155
Depreciation
At 1 February 2025 150,311
Charge for year 1,918
Eliminated on disposal (23,833)
At 31 January 2026 128,396
Net book value
At 31 January 2026 9,759
At 31 January 2025 14,329
6 Debtors
2026 2025
£ £
Trade debtors 18,713 2,518
Prepayments and accrued income 87 813
18,800 3,331
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Sherwood Drilling Services Ltd.
Notes to the financial statements - continued
for the year ended 31 January 2026
7 Creditors: amounts falling due within one year
2026 2025
£ £
Bank loans and overdrafts - 5,031
Trade creditors 5,286 2,317
Amounts owed to directors 30,683 32,163
Other creditors 898 301
Taxation 6,532 1,550
VAT payable 3,116 4,338
Accruals and deferred income 1,660 1,470
48,175 47,170
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