SCYTHIAN OIL LTD

SCYTHIAN OIL LTD

SCYTHIAN OIL LTD - Company Information

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SCYTHIAN OIL LTD

Company Registration Number:
08792379 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2020

Period of accounts

Start date: 01 December 2019

End date: 30 November 2020

SCYTHIAN OIL LTD

Contents of the Financial Statements

for the Period Ended 30 November 2020

Balance sheet
Notes

SCYTHIAN OIL LTD

Balance sheet

As at 30 November 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets: 3 10,130,544 8,678,984
Total fixed assets: 10,130,544 8,678,984
Current assets
Total assets less current liabilities: 10,130,544 8,678,984
Provision for liabilities: (5,246,377) (3,794,817)
Total net assets (liabilities): 4,884,167 4,884,167
Capital and reserves
Called up share capital: 19,081,386 19,081,386
Profit and loss account: (14,197,219) (14,197,219)
Shareholders funds: 4,884,167 4,884,167

The notes form part of these financial statements

SCYTHIAN OIL LTD

Balance sheet statements

For the year ending 30 November 2020 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 16 July 2021
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 2020

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 2020

2. Employees

2020 2019
Average number of employees during the period 3 3

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2020

3. Intangible Assets

Total
Cost £
At 01 December 2019 8,678,984
Additions 1,451,560
At 30 November 2020 10,130,544
Net book value
At 30 November 2020 10,130,544
At 30 November 2019 8,678,984

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2020

4. Financial commitments

Innogeo Ltd has been performing research and development and engineering works for Scythian Oil. The current provision for liabilities is GBP 5,246,377.

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2020

5. 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 2019 3,794,817
Balance at 30 November 2020 5,246,377