SCYTHIAN OIL LTD

SCYTHIAN OIL LTD

SCYTHIAN OIL LTD - Company Information

Print Friendly Version

SCYTHIAN OIL LTD

Company Registration Number:
08792379 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2018

Period of accounts

Start date: 01 December 2017

End date: 30 November 2018

SCYTHIAN OIL LTD

Contents of the Financial Statements

for the Period Ended 30 November 2018

Balance sheet
Notes

SCYTHIAN OIL LTD

Balance sheet

As at 30 November 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 2 8,678,984 7,980,651
Total fixed assets: 8,678,984 7,980,651
Current assets
Total assets less current liabilities: 8,678,984 7,980,651
Provision for liabilities: (3,783,117) (3,084,784)
Total net assets (liabilities): 4,895,867 4,895,867
Capital and reserves
Called up share capital: 19,081,386 19,081,386
Profit and loss account: (14,185,519) (14,185,519)
Shareholders funds: 4,895,867 4,895,867

The notes form part of these financial statements

SCYTHIAN OIL LTD

Balance sheet statements

For the year ending 30 November 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 June 2019
and signed on behalf of the board by:

Name: Mark Fletcher
Status: Director

The notes form part of these financial statements

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2018

1. Accounting policies

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

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2018

2. Intangible Assets

Total
Cost £
At 01 December 2017 7,980,651
Additions 698,333
At 30 November 2018 8,678,984
Net book value
At 30 November 2018 8,678,984
At 30 November 2017 7,980,651

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2018

3. Financial commitments

Innogeo Ltd has been performing research and development and engineering works for Scythian Oil. The current provision for liabilities is GBP 3,783,117.

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2018

4. Related party transactions

Name of the related party: Innogeo Ltd
Relationship:
Research & Development and Engineering Contractor
Description of the Transaction: Innogeo Lab has been performing research and development and engineering works for Scythian Oil.
£
Balance at 01 December 2017 3,084,784
Balance at 30 November 2018 3,783,117