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REGISTERED NUMBER: 06555858 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Green Oil International Limited

Green Oil International Limited (Registered number: 06555858)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Green Oil International Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: T M Malik



SECRETARY: T M Malik



REGISTERED OFFICE: 3rd Floor
56 Wellington Street
Leeds
LS1 2EE



REGISTERED NUMBER: 06555858 (England and Wales)



ACCOUNTANTS: Evelyn Partners (Leeds) Limited
Accountants
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE



BANKERS: HSBC
33 Park Row
Leeds
LS1 1LD

Green Oil International Limited (Registered number: 06555858)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 699 1,487

CURRENT ASSETS
Debtors 5 121,314 178,862
Cash at bank 8,269 25,454
129,583 204,316
CREDITORS
Amounts falling due within one year 6 41,934 43,236
NET CURRENT ASSETS 87,649 161,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,348

162,567

PROVISIONS FOR LIABILITIES 7 172,928 220,049
NET LIABILITIES (84,580 ) (57,482 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (84,680 ) (57,582 )
SHAREHOLDERS' FUNDS (84,580 ) (57,482 )

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

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

Green Oil International Limited (Registered number: 06555858)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2025 and were signed by:





T M Malik - Director


Green Oil International Limited (Registered number: 06555858)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Green Oil International Limited 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.

Going concern
During the financial year ended 31 October 2023 the business has not actively traded and hence turnover is shown as nil.

This has been largely due to the withdrawal by the Company's bankers of the trade facility and the reduction in material traded within the market as a result of the COVID pandemic.

Whilst the Director has sought out smaller trades and to broker trades the above mentioned factors have prevented any trades from being concluded. The Director has continued to network within the industry and to maintain a strong awareness of market conditions.

The Director has, as a result of the above, continued the Company with the intention of repaying outstanding creditors to the best of the Company's ability.

As disclosed under the notes on 'Provisions' and 'Contingent Assets and Liabilities' claims have been received from suppliers. The claims give rise to a material uncertainty which places significant doubt on the status of the company as a going concern.

The major claim against the company has been compromised on agreed terms and the director is satisfied that the company can continue in accordance with the terms agreed with the said supplier.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Green Oil International Limited (Registered number: 06555858)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

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

Green Oil International Limited (Registered number: 06555858)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 16,174 3,706 19,880
DEPRECIATION
At 1 November 2022 14,687 3,706 18,393
Charge for year 788 - 788
At 31 October 2023 15,475 3,706 19,181
NET BOOK VALUE
At 31 October 2023 699 - 699
At 31 October 2022 1,487 - 1,487

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,978 156,974
Pensions 1,590 1,590
Directors' loan accounts 89,825 -
VAT 20,921 20,298
121,314 178,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 1
Trade creditors 5,328 5,665
Corporation tax 32,621 32,622
Other creditors 3,985 4,948
41,934 43,236

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Other provisions 172,928 220,049

Other
provisions
£   
Balance at 1 November 2022 220,049
Balance at 31 October 2023 220,049

Green Oil International Limited (Registered number: 06555858)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. PROVISIONS FOR LIABILITIES - continued

A claims had been received at year end from a supplier for a purported breach of contract. A further agreement has been made in respect of this claim since year end and a provision has been made in respect of this amount accordingly.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

9. CONTINGENT ASSETS AND LIABILITIES

Claims have been received from suppliers for purported breaches of contract. These claims have not been precisely determined by operation of law or by the terms and conditions of the agreement made by the parties and so no provision has been made in these financial statements for these claims.

10. TRANSACTIONS WITH DIRECTORS

Included in debtors is a balance of £89,825 (2022: £147,995) due from a director. The maximum balance outstanding was £147,995. The balance is interest free and repayable on demand.

11. RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under the Section 1A of FRS 102.