Accounts Submission

Accounts Submission

OILFIELD CONSULTANTS INTERNATIONAL LTD - Company Information

Print Friendly Version

OILFIELD CONSULTANTS INTERNATIONAL LTD

Company Registration Number:
02516794 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2019

Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

Page 1

OILFIELD CONSULTANTS INTERNATIONAL LTD

Contents of the Financial Statements

for the Period Ended 30 June 2019

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 11

Page 2

OILFIELD CONSULTANTS INTERNATIONAL LTD

Company Information

for the Period Ended 30 June 2019




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)

Page 3

OILFIELD CONSULTANTS INTERNATIONAL LTD

Directors' Report Period Ended 30 June 2019

The directors present their report with the financial statements of the company for the period ended 30 June 2019

Principal Activities

Engineering and 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 wherever practicable.

Directors

The directors shown below have held office during the whole of the period from 01 July 2018 to 30 June 2019
E A LINES

Secretary
E A LINES

This report was approved by the board of directors on 24 March 2020
And Signed On Behalf Of The Board By:

Name: E A LINES
Status: Director

Page 4

OILFIELD CONSULTANTS INTERNATIONAL LTD

Balance sheet

As at 30 June 2019


Notes
2019
£
2018
£
Fixed assets
Tangible assets: 5 4,009 4,717
Total fixed assets: 4,009 4,717
Current assets
Debtors: 6 10,991 13,754
Cash at bank and in hand: 41,821 41,941
Total current assets: 52,812 55,695
Creditors: amounts falling due within one year: 7 ( 25,577 ) ( 27,561 )
Net current assets (liabilities): 27,235 28,134
Total assets less current liabilities: 31,244 32,851
Total net assets (liabilities): 31,244 32,851

The notes form part of these financial statements

Page 5

OILFIELD CONSULTANTS INTERNATIONAL LTD

Balance sheet continued

As at 30 June 2019


Notes
2019
£
2018
£
Capital and reserves
Called up share capital: 78 78
Profit and loss account: 31,166 32,773
Shareholders funds: 31,244 32,851

For the year ending 30 June 2019 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 24 March 2020
And Signed On Behalf Of The Board By:

Name: E A LINES
Status: Director

The notes form part of these financial statements

Page 6

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

  • 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

Page 7

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

  • 2. Employees


    2019
    2018
    Average number of employees during the period 1 1

    The director does not have an employment contract.

Page 8

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

  • 3. Off balance sheet disclosure

    No

Page 9

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

4. Dividends


2019
£
2018
£
Dividends paid 13,000 11,550

Page 10

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

5. Tangible assets

Office equipment Total
Cost £ £
At 01 July 2018 25,094 25,094
Additions 0 0
Disposals (0) (0)
Revaluations - -
Transfers - -
At 30 June 2019 25,094 25,094
Depreciation
At 01 July 2018 20,377 20,377
Charge for year 708 708
On disposals - -
Other adjustments - -
At 30 June 2019 21,085 21,085
Net book value
At 30 June 2019 4,009 4,009
At 30 June 2018 4,717 4,717

Page 11

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

6. Debtors


2019
£
2018
£
Trade debtors 175 175
Other debtors 10,816 13,579
Total 10,991 13,754

Page 12

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

7.Creditors: amounts falling due within one year note


2019
£
2018
£
Trade creditors 40
Other creditors 25,577 27,521
Total 25,577 27,561

Page 13

OILFIELD CONSULTANTS INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

8.1.Related party disclosures

Name of related party: E A Lines
Description of relationship:
Director of company and member of Oilfield Valuation Valuation LLP
Description of the transaction:
Oilfield Valuation Consultants (OVC) is a member of the Oilfield Consultants International's (OCI) VAT Group. 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 to E Lines from her OCI Director’s account was £501 during the 18/19 OVC tax year. E A Lines also paid OCI’s invoice to OVC for £15727 from her directors’ account in the 19/20 OVC tax year on behalf of OVC.
Balance at 01 July 2018 0
Balance at 30 June 2019 0

Page 14