Registration number: 02465141

Rig Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Rig Services Limited

Company Information

Directors

T. T. Jones N. A. Jones L. K. B. Jones

Company secretary

S. A. Jones

Registered office

Mason House Unit 10A Enterprise Road Mansfield Nottingham NG19 7JX

Accountants

Robert Whowell & Partners LLP Chartered AccountantsWestwood House 78 Loughborough Road Quorn Loughborough Leicestershire LE12 8DX

Rig Services Limited

(Registration number: 02465141)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,247,386	2,225,764
Current assets
Debtors	5	1,583,219	1,147,820
Cash at bank and in hand		1,160,902	696,138
		2,744,121	1,843,958
Creditors: Amounts falling due within one year	6	(866,017)	(245,233)
Net current assets		1,878,104	1,598,725
Total assets less current liabilities		4,125,490	3,824,489
Creditors: Amounts falling due after more than one year	6	(90,629)	(174,513)
Provisions for liabilities		(561,847)	(556,441)
Net assets		3,473,014	3,093,535
Capital and reserves
Called up share capital	7	100	100
Retained earnings		3,472,914	3,093,435
Shareholders' funds		3,473,014	3,093,535

Rig Services Limited

(Registration number: 02465141)
Balance Sheet as at 30 June 2025

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:
 

......................................... N. A. Jones Director

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mason House
Unit 10A
Enterprise Road
Mansfield
Nottingham
NG19 7JX

These financial statements were authorised for issue by the Board on 30 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the hire of plant and machinery in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the useful life of the asset. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4	Tangible assets

	Plant and machinery £	Total £
Cost
At 1 July 2024	4,317,476	4,317,476
Additions	754,469	754,469
Disposals	(1,134,540)	(1,134,540)
At 30 June 2025	3,937,405	3,937,405
Depreciation
At 1 July 2024	2,091,712	2,091,712
Charge for the year	280,035	280,035
Eliminated on disposal	(681,728)	(681,728)
At 30 June 2025	1,690,019	1,690,019
Carrying amount
At 30 June 2025	2,247,386	2,247,386
At 30 June 2024	2,225,764	2,225,764

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		802,703	203,826
Amounts owed by group undertakings	8	780,516	820,171
Other debtors		-	123,823
		1,583,219	1,147,820

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		78,543	175,914
Trade creditors		106	1,568
Amounts owed to group undertakings	8	21,912	63,250
Taxation and social security		142,225	-
Accruals and deferred income		623,231	4,501
		866,017	245,233

Creditors include net obligations under hire purchase contracts which are secured of £78,543 (2024 - £175,914).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		90,629	174,513

Creditors include net obligations under hire purchase contracts which are secured of £90,629 (2024 - £174,513).

Rig Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Related party transactions

Summary of transactions with other related parties

As at the balance sheet date the company was due £780,516 (2024 - £820,171) from group connected companies. The company also owed £21,912 (2024 - £63,250) to group connected companies.