Oil Ridge Ltd - Accounts to registrar (filleted) - small 23.2

Oil Ridge Ltd - Accounts to registrar (filleted) - small 23.2

OIL RIDGE LTD - Company Information

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REGISTERED NUMBER: 08743281 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2022

for

OIL RIDGE LTD
OIL RIDGE LTD (REGISTERED NUMBER: 08743281)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 6

OIL RIDGE LTD

Company Information
for the Year Ended 31 October 2022







DIRECTORS: M I Hill
M R Hill





REGISTERED OFFICE: 43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH





REGISTERED NUMBER: 08743281 (England and Wales)





ACCOUNTANTS: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH
Page 1
OIL RIDGE LTD (REGISTERED NUMBER: 08743281)

Abridged Balance Sheet
31 October 2022

31/10/22 31/10/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,767 3,191

CURRENT ASSETS
Debtors 81,885 81,347
Cash at bank and in hand 169,540 103,040
251,425 184,387
CREDITORS
Amounts falling due within one year 94,477 47,164
NET CURRENT ASSETS 156,948 137,223
TOTAL ASSETS LESS CURRENT
LIABILITIES
159,715
140,414

PROVISIONS FOR LIABILITIES 691 606
NET ASSETS 159,024 139,808

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 158,924 139,708
SHAREHOLDERS' FUNDS 159,024 139,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
OIL RIDGE LTD (REGISTERED NUMBER: 08743281)

Abridged Balance Sheet - continued
31 October 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 7 July 2023 and were signed on its behalf by:





M R Hill - Director


The notes form part of these financial statements

Page 3
OIL RIDGE LTD (REGISTERED NUMBER: 08743281)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Oil Ridge Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Page 4 continued...
OIL RIDGE LTD (REGISTERED NUMBER: 08743281)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2021 12,650
Additions 911
At 31 October 2022 13,561
DEPRECIATION
At 1 November 2021 9,459
Charge for year 1,335
At 31 October 2022 10,794
NET BOOK VALUE
At 31 October 2022 2,767
At 31 October 2021 3,191

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2022 and 31 October 2021:

31/10/22 31/10/21
£    £   
M I Hill and M R Hill
Balance outstanding at start of year - -
Amounts advanced 30,156 38,674
Amounts repaid (30,156 ) (38,674 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest is charged on the directors' loan accounts at 2% and the loans are repayable on demand.

Page 5
Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Oil Ridge Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oil Ridge Ltd for the year ended 31 October 2022 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Oil Ridge Ltd, as a body, in accordance with the terms of our engagement letter dated 4 August 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Oil Ridge Ltd and state those matters that we have agreed to state to the Board of Directors of Oil Ridge Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Oil Ridge Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oil Ridge Ltd. You consider that Oil Ridge Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oil Ridge Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


7 July 2023

This page does not form part of the statutory financial statements

Page 6