Registered number
06297327
Oil & Gas HSSE Services Limited
Filleted Accounts
31 March 2024
Oil & Gas HSSE Services Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Profit and loss account 3
Balance sheet 4
Notes to the accounts 5 to 7
Oil & Gas HSSE Services Limited
Company Information
Director
R A Cooke
Secretary
G K Potter FAIA
Accountants
N W Potter & Co
International Accountants
Station House
Station Road
Betchworth
Surrey
RH3 7BZ
Registered office
Station House
Station Road
Betchworth
Surrey
RH3 7BZ
Registered number
06297327
Oil & Gas HSSE Services Limited
Registered number: 06297327
Director's Report
The director presents his report and accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the Company is the provision of Health, Safety, Security and Environment services to the Oil & Gas industries.
Directors
The following persons served as directors during the year:
R A Cooke
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 2 August 2024 and signed on its behalf.
R A Cooke
Director
Oil & Gas HSSE Services Limited
Registered number: 06297327
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15 22
Current assets
Debtors 4 81 45
Cash at bank and in hand 98,062 36,812
98,143 36,857
Creditors: amounts falling due within one year 5 (20,407) (5,633)
Net current assets 77,736 31,224
Net assets 77,751 31,246
Capital and reserves
Called up share capital 100 100
Profit and loss account 77,651 31,146
Shareholders' funds 77,751 31,246
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
R A Cooke
Director
Approved by the board on 2 August 2024
Oil & Gas HSSE Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 40% per annum on reducing balance
Fixtures, fittings, tools and equipment 25% per annum on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 2,185
At 31 March 2024 2,185
Depreciation
At 1 April 2023 2,163
Charge for the year 7
At 31 March 2024 2,170
Net book value
At 31 March 2024 15
At 31 March 2023 22
4 Debtors 2024 2023
£ £
Other debtors 81 45
Included in Other Debtors is a VAT Refund of £81 (2023 - VAT Refund of £45)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other taxes and social security costs 12,512 16
Other creditors 7,895 5,617
20,407 5,633
Other creditors includes an amount of £3,775 owing to R A Cooke (the director) (£3,089 owing as at 31st March 2023) representing the balance of loans made to the company that had not been repaid to him by the year end.
6 Other information
Oil & Gas HSSE Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Station House
Station Road
Betchworth
Surrey
RH3 7BZ
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