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REGISTERED NUMBER: 10047032 (England and Wales)







Unaudited Financial Statements

For The Year Ended 31st March 2018

for

Northburn Oils Ltd

Northburn Oils Ltd (Registered number: 10047032)






Contents of the Financial Statements
For The Year Ended 31st March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northburn Oils Ltd

Company Information
For The Year Ended 31st March 2018







DIRECTORS: S W MacLeod
W G MacLeod
R I Wylie
B J A Cackett





SECRETARY:





REGISTERED OFFICE: Scarisbrick Hall
Southport Road
Scarisbrick
Ormskirk
L40 9RQ





REGISTERED NUMBER: 10047032 (England and Wales)





ACCOUNTANTS: J.S. Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Northburn Oils Ltd (Registered number: 10047032)

Balance Sheet
31st March 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,613,694 1,533,298

CURRENT ASSETS
Stocks 1,550,974 685,355
Debtors 5 1,142,587 1,565,562
Cash at bank and in hand 162,045 342,558
2,855,606 2,593,475
CREDITORS
Amounts falling due within one year 6 (1,325,472 ) (1,312,169 )
NET CURRENT ASSETS 1,530,134 1,281,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,143,828

2,814,604

CREDITORS
Amounts falling due after more than one
year

7

(996,793

)

(847,297

)

PROVISIONS FOR LIABILITIES (68,535 ) (38,411 )
NET ASSETS 2,078,500 1,928,896

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 1,150,318 1,150,318
Retained earnings 928,181 778,577
SHAREHOLDERS' FUNDS 2,078,500 1,928,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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.

Northburn Oils Ltd (Registered number: 10047032)

Balance Sheet - continued
31st March 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 13th November 2018 and were signed on its behalf
by:





R I Wylie - Director


Northburn Oils Ltd (Registered number: 10047032)

Notes to the Financial Statements
For The Year Ended 31st March 2018

1. STATUTORY INFORMATION

Northburn Oils 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

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 etc - 25% on reducing balance, 20% on reducing balance and 15% 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

Northburn Oils Ltd (Registered number: 10047032)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2018

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2017 1,723,927
Additions 367,847
Disposals (1,200 )
At 31st March 2018 2,090,574
DEPRECIATION
At 1st April 2017 190,629
Charge for year 286,386
Eliminated on disposal (135 )
At 31st March 2018 476,880
NET BOOK VALUE
At 31st March 2018 1,613,694
At 31st March 2017 1,533,298

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 1,117,649 1,555,768
Other debtors 24,938 9,794
1,142,587 1,565,562

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 78,734 -
Trade creditors 1,079,763 664,275
Taxation and social security (79,470 ) 124,205
Other creditors 246,445 523,689
1,325,472 1,312,169

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Hire purchase contracts 15,358 -
Other creditors 981,435 847,297
996,793 847,297

Northburn Oils Ltd (Registered number: 10047032)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2018 2017
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Third party loan 981,435 847,297

8. RESERVES
Revaluation
reserve
£   
At 1st April 2017
and 31st March 2018 1,150,318

The revaluation reserve is the result of the difference between the price paid for the assets and the independent
valuation report that shows the Market Value In-Situ at date of Purchase June 16.