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REGISTERED NUMBER: SC690489 (Scotland)















GPB Oil & Gas Consulting Ltd

Financial Statements For The Year Ended 28 February 2023






GPB Oil & Gas Consulting Ltd (Registered number: SC690489)






Contents of the Financial Statements
For The Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GPB Oil & Gas Consulting Ltd

Company Information
For The Year Ended 28 February 2023







DIRECTOR: Mr G P Barrett



REGISTERED OFFICE: 4 North Guildry Street
Elgin
Moray
IV30 1JR



REGISTERED NUMBER: SC690489 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: HSBC Bank Plc
95-99 Union Street
Aberdeen
AB11 6BD

GPB Oil & Gas Consulting Ltd (Registered number: SC690489)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,608 2,933

CURRENT ASSETS
Debtors 5 11,866 29,604
Cash at bank 1,356 2,341
13,222 31,945
CREDITORS
Amounts falling due within one year 6 14,453 38,982
NET CURRENT LIABILITIES (1,231 ) (7,037 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

377

(4,104

)

PROVISIONS FOR LIABILITIES 7 257 -
NET ASSETS/(LIABILITIES) 120 (4,104 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 20 (4,204 )
SHAREHOLDERS' FUNDS 120 (4,104 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GPB Oil & Gas Consulting Ltd (Registered number: SC690489)

Balance Sheet - continued
28 February 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mr G P Barrett - Director


GPB Oil & Gas Consulting Ltd (Registered number: SC690489)

Notes to the Financial Statements
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

GPB Oil & Gas Consulting Ltd is a private company, limited by shares , registered in Scotland. 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 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.

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.
Equipment - 33% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

GPB Oil & Gas Consulting Ltd (Registered number: SC690489)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2022
and 28 February 2023 4,017
DEPRECIATION
At 1 March 2022 1,084
Charge for year 1,325
At 28 February 2023 2,409
NET BOOK VALUE
At 28 February 2023 1,608
At 28 February 2022 2,933

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 10,142 29,604
Other debtors 1,724 -
11,866 29,604

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security - 4,345
Other creditors 14,453 34,637
14,453 38,982

7. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 257 -

Deferred
tax
£   
Provided during year 257
Balance at 28 February 2023 257

GPB Oil & Gas Consulting Ltd (Registered number: SC690489)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
90 Ordinary 1 90 90
10 Ordinary A 1 10 10
100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2022 (4,204 )
Profit for the year 5,024
Dividends (800 )
At 28 February 2023 20

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £800 were paid to the director .

As at 28 February 2022 the company owed the director £5,507. During the year the company met expenses on behalf of the director of £6,796. As at 28 February 2023 the director owed the company £1,289. This loan is interest free and has no fixed terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G P Barrett.