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Company Registration No. 02502117 (England and Wales)
EURO PETROLEUM LIMITED Unaudited accounts for the year ended 31 May 2024
EURO PETROLEUM LIMITED Unaudited accounts Contents
Page
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EURO PETROLEUM LIMITED Company Information for the year ended 31 May 2024
Director
Nigel Clive Russell
Secretary
Lisa Russell
Company Number
02502117 (England and Wales)
Registered Office
KINGSFORTH GARAGE WOOD HOUSE GREEN THURCROFT ROTHERHAM SOUTH YORKSHIRE S66 9JA
Accountants
Hammond & Co 36 Chesterfield Road Market Street Staveley Derbyshire S43 3UT
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EURO PETROLEUM LIMITED Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
46,389 
49,351 
Current assets
Inventories
976,192 
1,039,882 
Debtors
68,868 
151,505 
Cash at bank and in hand
45,103 
88,321 
1,090,163 
1,279,708 
Creditors: amounts falling due within one year
(454,142)
(521,773)
Net current assets
636,021 
757,935 
Total assets less current liabilities
682,410 
807,286 
Creditors: amounts falling due after more than one year
(20,000)
(66,696)
Provisions for liabilities
Deferred tax
(1,280)
(1,600)
Net assets
661,130 
738,990 
Capital and reserves
Called up share capital
104 
104 
Capital redemption reserve
66,000 
66,000 
Profit and loss account
595,026 
672,886 
Shareholders' funds
661,130 
738,990 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2024 and were signed on its behalf by
Nigel Clive Russell Director Company Registration No. 02502117
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EURO PETROLEUM LIMITED Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
EURO PETROLEUM LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02502117. The registered office is KINGSFORTH GARAGE, WOOD HOUSE GREEN THURCROFT, ROTHERHAM, SOUTH YORKSHIRE, S66 9JA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
62,891 
16,487 
54,844 
134,222 
At 31 May 2024
62,891 
16,487 
54,844 
134,222 
Depreciation
At 1 June 2023
22,071 
15,825 
46,975 
84,871 
Charge for the year
1,256 
132 
1,574 
2,962 
At 31 May 2024
23,327 
15,957 
48,549 
87,833 
Net book value
At 31 May 2024
39,564 
530 
6,295 
46,389 
At 31 May 2023
40,820 
662 
7,869 
49,351 
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EURO PETROLEUM LIMITED Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,660 
- 
Trade debtors
61,708 
149,005 
Accrued income and prepayments
2,500 
2,500 
68,868 
151,505 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
340,148 
277,680 
VAT
- 
30,214 
Trade creditors
57,668 
135,508 
Taxes and social security
871 
22,759 
Other creditors
140 
297 
Loans from directors
55,315 
55,315 
454,142 
521,773 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,000 
66,696 
8
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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