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REGISTERED NUMBER: 12385192 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Authentic Oil Co Ltd

Authentic Oil Co Ltd (Registered number: 12385192)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Authentic Oil Co Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr Daniel Robinson





REGISTERED OFFICE: Unit 1 Little Castle Farm
Raglan
Monmouthshire
NP15 2BX





REGISTERED NUMBER: 12385192 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Authentic Oil Co Ltd (Registered number: 12385192)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,029 9,372

CURRENT ASSETS
Stocks 38,000 37,000
Debtors 5 367 -
Cash at bank 7,185 2,559
45,552 39,559
CREDITORS
Amounts falling due within one year 6 14,533 30,670
NET CURRENT ASSETS 31,019 8,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,048

18,261

CREDITORS
Amounts falling due after more than one
year

7

(85,971

)

(19,606

)

PROVISIONS FOR LIABILITIES 9 (1,336 ) (1,781 )
NET LIABILITIES (49,259 ) (3,126 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 11 (49,269 ) (3,136 )
SHAREHOLDERS' FUNDS (49,259 ) (3,126 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Authentic Oil Co Ltd (Registered number: 12385192)

Balance Sheet - continued
31 January 2024


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 29 October 2024 and were signed by:





Mr Daniel Robinson - Director


Authentic Oil Co Ltd (Registered number: 12385192)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Authentic Oil Co Ltd is a private company, limited by shares , registered in England and Wales. 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Authentic Oil Co Ltd (Registered number: 12385192)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 11,050 5,320 292 16,662
DEPRECIATION
At 1 February 2023 4,834 2,328 128 7,290
Charge for year 1,554 748 41 2,343
At 31 January 2024 6,388 3,076 169 9,633
NET BOOK VALUE
At 31 January 2024 4,662 2,244 123 7,029
At 31 January 2023 6,216 2,992 164 9,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
VAT 367 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 3,210 1,003
Social security and other taxes 768 -
VAT - 7,253
Directors' current accounts 9,389 20,277
Accruals and deferred income 1,166 2,137
14,533 30,670

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 8) 85,971 19,606

8. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 85,971 19,606

Authentic Oil Co Ltd (Registered number: 12385192)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 1,336 1,781

Deferred
tax
£   
Balance at 1 February 2023 1,781
Provided during year (445 )
Balance at 31 January 2024 1,336

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
10 Ordinary £1 10 10

11. RESERVES
Retained
earnings
£   

At 1 February 2023 (3,136 )
Deficit for the year (46,133 )
At 31 January 2024 (49,269 )