Oil Technics Limited - Accounts to registrar (filleted) - small 18.2
Oil Technics Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| FOR |
| OIL TECHNICS LIMITED |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| OIL TECHNICS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Registered Auditors |
| Number 19 |
| Old Hall Street |
| Liverpool |
| Merseyside |
| L3 9JQ |
| BANKERS: |
| 2 Queens Road |
| Aberdeen |
| Grampian |
| AB15 4ZT |
| SOLICITORS: |
| Advocates and Notaries Public |
| 1 Carden Place |
| Aberdeen |
| Aberdeenshire |
| AB10 1UT |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| BALANCE SHEET |
| 30 APRIL 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 1. | STATUTORY INFORMATION |
| Oil Technics Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Land and Buildings - 2% on cost |
| Plant and Machinery etc - 25% on reducing balance no depreciation in year of acquisition |
| Computer Equipment - 20% on reducing balance |
| 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 tax. Tax is recognised in the Income Statement, 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 tax |
| 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 |
| have been enacted or substantively enacted by the year end 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 probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 May 2018 |
| and 30 April 2019 |
| AMORTISATION |
| At 1 May 2018 |
| and 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2018 |
| Additions |
| At 30 April 2019 |
| DEPRECIATION |
| At 1 May 2018 |
| Charge for year |
| At 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| The HSBC Bank Plc has a debenture including fixed mortgage charge over all present freehold and leasehold |
| property: First fixed charge over book and other debts, chattels , goodwill and uncalled capital , both present |
| and future: and first floating charge over all assets and undertaking both present and future dated 15 April 2012. |
| HSBC has a First Legal Charge dated 15 april 2012 over property known as Linton Business Park, Gourdon, |
| DD10 0NH |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| HSBC Invoice Finance (UK) Ltd has a fixed equitable charge on all purchased debts shown in Trade debtors, |
| this charge was given on 14th April 2003. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Factoring Account | 165,319 | 119,040 |
| HSBC have a charge over contract monies dated 9 April 2012. |
| HSBC Invoice Finance (UK) Ltd has a fixed equitable charge on all purchased debts shown in Trade debtors, |
| this charge was given on 22nd December 2004. |
| The HSBC Bank Plc has a debenture including fixed charge over all present freehold and leasehold property: |
| First fixed charge over book and other debts, chattels , goodwill and uncalled capital , both present and future: |
| and first floating charge over all assets and undertaking both present and future dated 17 December 2002. |
| General letter of pledge dated 21 February 2013 is held by HSBC. |
| Composite Company unlimited multilateral guarantee dated 2nd March 2009 is held by HSBC. |
| HSBC has First Mortgage dated 1 October 2004 over HSBC life policy number 9J9W26J-01 |
| HSBC has a First Legal Scottish Charge dated 19 December 2007 over property known as Linton Business Park, |
| Gourdon, DD10 0NH |
| Group set off is held by HSBC. |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Guild Appleton Limited |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| . |
| 12. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
| to the tax authorities and assist with the preparation of the financial statements. |
| 13. | AUDITOR LIABILITY LIMITATION AGREEMENT |
| As set out in latest letter of Engagement dated 14th July 2016. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is TD Evans. |
| OIL TECHNICS LIMITED (REGISTERED NUMBER: 02119389) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 15. | ULTIMATE PARENT COMPANY |
| The company is a 100% subsidiary undertaking of Oil Technics Holdings Limited registered in England and |
| Wales. |