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REGISTERED NUMBER: SC306063 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

OIL & WATER SUPPLIES LIMITED

OIL & WATER SUPPLIES LIMITED (REGISTERED NUMBER: SC306063)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OIL & WATER SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: A Hamilton
Mrs M Hamilton





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC306063 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

OIL & WATER SUPPLIES LIMITED (REGISTERED NUMBER: SC306063)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 832 8,296

CURRENT ASSETS
Debtors 5 54,545 54,184
Cash at bank and in hand 30,815 18,002
85,360 72,186
CREDITORS
Amounts falling due within one year 6 70,952 51,783
NET CURRENT ASSETS 14,408 20,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,240

28,699

CREDITORS
Amounts falling due after more than one
year

7

14,580

28,082
NET ASSETS 660 617

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 557 514
SHAREHOLDERS' FUNDS 660 617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

OIL & WATER SUPPLIES LIMITED (REGISTERED NUMBER: SC306063)

BALANCE SHEET - continued
31 JULY 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 Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





A Hamilton - Director


OIL & WATER SUPPLIES LIMITED (REGISTERED NUMBER: SC306063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Oil & Water Supplies Limited 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.
Fixtures and fittings - 25% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 33.33% on a straight line basis

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

OIL & WATER SUPPLIES LIMITED (REGISTERED NUMBER: SC306063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 - 12,698 9,842 22,540
Additions 1,000 - - 1,000
Disposals - (12,698 ) - (12,698 )
At 31 July 2023 1,000 - 9,842 10,842
DEPRECIATION
At 1 August 2022 - 4,571 9,673 14,244
Charge for year 250 - 87 337
Eliminated on disposal - (4,571 ) - (4,571 )
At 31 July 2023 250 - 9,760 10,010
NET BOOK VALUE
At 31 July 2023 750 - 82 832
At 31 July 2022 - 8,127 169 8,296

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,880 3,867
Other debtors 51,665 50,317
54,545 54,184

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts - 2,540
Trade creditors 34,133 25,166
Taxation and social security 16,774 13,233
Other creditors 12,045 2,844
70,952 51,783

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,580 22,580
Hire purchase contracts - 5,502
14,580 28,082