Accounts Submission

OILFIELD CONSULTANTS INTERNATIONAL LTD - Company Information

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Company Registration Number:
02516794 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2018

Period of accounts

Start date: 01 July 2017

End date: 30 June 2018

Contents of the Financial Statements

for the Period Ended 30 June 2018


Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

Directors' Report Period Ended 30 June 2018

The directors present their report with the financial statements of the company for the period ended 30 June 2018

Principal Activities

The principal activities of the company were Corporate Services.

Political and charitable donations

The company made no contributions to charities or political organisations.

Company policy on the employment of disabled persons

It is the company's policy to give employment to disabled persons whenever practicable.

Directors

The directors shown below have held office during the whole of the period from 01 July 2017 to 30 June 2018
E A Lines

Secretary
E A Lines

This report was approved by the board of directors on 23 January 2019
And Signed On Behalf Of The Board By:

Name: E A Lines
Status: Director

Balance sheet

As at 30 June 2018

	Notes	2018 £	2017 £
Fixed assets
Tangible assets:	4	4,717	5,262
Total fixed assets:		4,717	5,262
Current assets
Debtors:	5	13,754	12,142
Cash at bank and in hand:		41,941	44,560
Total current assets:		55,695	56,702
Creditors: amounts falling due within one year:	6	( 27,561 )	( 9,758 )
Net current assets (liabilities):		28,134	46,944
Total assets less current liabilities:		32,851	52,206
Total net assets (liabilities):		32,851	52,206

The notes form part of these financial statements

Balance sheet continued

As at 30 June 2018

	2018 £	2017 £
Capital and reserves
Called up share capital:	78	78
Profit and loss account:	32,773	52,128
Shareholders funds:	32,851	52,206

For the year ending 30 June 2018 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 23 January 2019
And Signed On Behalf Of The Board By:

Name: E A Lines
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 June 2018

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable for goods and services exclusive of VAT and trade discounts.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset of its expected useful life, as follows:

Fixtures, fittings and equipment 15% per year on net book value.

Notes to the Financial Statements

for the Period Ended 30 June 2018

2. Dividends

	2018 £	2017 £
Dividends paid	11,550	12,020

Notes to the Financial Statements

for the Period Ended 30 June 2018

3. Employees

	2018	2017
Average number of employees during the period	1	1

The director is not an employee and does not have an employment or service contract.

Notes to the Financial Statements

for the Period Ended 30 June 2018

4. Tangible assets

	Office equipment	Total
Cost	£	£
At 01 July 2017	24,807	24,807
Additions	287	287
Disposals	-	-
Revaluations	-	-
Transfers	-	-
At 30 June 2018	25,094	25,094
Depreciation
At 01 July 2017	19,545	19,545
Charge for year	832	832
On disposals	-	-
Other adjustments	-	-
At 30 June 2018	20,377	20,377
Net book value
At 30 June 2018	4,717	4,717
At 30 June 2017	5,262	5,262

Notes to the Financial Statements

for the Period Ended 30 June 2018

5. Debtors

	2018 £	2017 £
Trade debtors	175	175
Other debtors	13,579	11,967
Total	13,754	12,142

Trade Debtors: credit note for return of supplies in 2015.
Other Debtors: VAT and tax loss carried forward

Notes to the Financial Statements

for the Period Ended 30 June 2018

6.Creditors: amounts falling due within one year note

	2018 £	2017 £
Trade creditors	40	90
Taxation and social security		53
Other creditors	27,521	9,615
Total	27,561	9,758

Other Creditors: Director's account and debt to former director.

Notes to the Financial Statements

for the Period Ended 30 June 2018

7.1.Related party disclosures

Name of related party:	Oilfield valuation Consultants LLP
Description of relationship:
Oilfield Valuation Consultants (OVC) is a member of the Oilfield Consultants International's (OCI) VAT Group.
Description of the transaction:
As a "Participator" in OVC (under Section 455 of the Companies Act 2006, SI 2013/1970) and on behalf of OVC, E A Lines settled office services invoices from OCI, and balancing VAT payments and receipts from OCI, from her OCI director's account. The net value of the transactions paid by E Lines from her OCI Director’s account was £212. E A Lines also advanced loans from her OVC member’s account to OVC. The net value of the loans was £12000.
Balance at 01 July 2017	0
Balance at 30 June 2018	0

Director:		E A Lines


Secretary:		E A Lines


Registered office:		5 Warren Close Hayling Island England PO11 0HP


Company Registration Number:		02516794 (England and Wales)

Accounts Submission