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
EURO PETROLEUM LIMITED
Company Information
for the year ended 31 May 2024
Director
Nigel Clive 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
EURO PETROLEUM LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
46,389
49,351
Inventories
976,192
1,039,882
Cash at bank and in hand
45,103
88,321
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
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
EURO PETROLEUM LIMITED
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 31 May 2024
39,564
530
6,295
46,389
At 31 May 2023
40,820
662
7,869
49,351
EURO PETROLEUM LIMITED
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Trade debtors
61,708
149,005
Accrued income and prepayments
2,500
2,500
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
340,148
277,680
Trade creditors
57,668
135,508
Taxes and social security
871
22,759
Loans from directors
55,315
55,315
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 8 (2023: 8).