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Unaudited Accounts | ||
for the year ended | ||
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Balance Sheet as at |
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Notes |
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2023 £ |
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Fixed assets | |||||
Tangible assets | 6 |
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Investments | 7 |
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Current assets | |||||
Debtors | 8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 9 | ( |
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Net current assets / (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 10 | ( |
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Provisions for liabilities | ( |
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Total net assets (liabilities) |
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Capital and reserves | |||||
Called up share capital | 11 |
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Profit and loss account |
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Shareholders' funds |
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Balance Sheet
as at
The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.
Signed on behalf of the board of directors
...............................
E Lines
Director
Approved by the board on
Company Number: 02516794 (a Private Company Limited by Shares registered in England and Wales)
Registered Office:
5 Warren Close
Notes to the Accounts
for the year ended
1. | Accounting policies |
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Basis of preparation of financial statements |
Going concern basis | |
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The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future. |
Revenue recognition | |
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Tangible fixed assets depreciation policy | |||||
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Investment property | |
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2. | Profit or loss | |||
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Profit before tax is stated after charging the following: |
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2023 |
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Depreciation - owned assets |
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Directors' remuneration |
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3. | Taxation | |||
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2024 | 2023 | |||
£ | £ | |||
UK Corporation Tax | 7,698 | 2,302 | ||
Tax on profit/(loss) on ordinary activities | 7,698 | 2,302 | ||
4. | Directors' remuneration | |||
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2024 | 2023 | |||
£ | £ | |||
Directors' salaries | 300 | 300 | ||
Total |
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5. | Employees | |||
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2024 | 2023 | |||
Average number of employees during the period |
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6. | Tangible fixed assets | |||||
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Computer equipment | Office equipment | Total | ||||
Cost or valuation | £ | £ | £ | |||
At 1 July 2023 |
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At 30 June 2024 |
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Depreciation | ||||||
At 1 July 2023 |
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Charge for the period |
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At 30 June 2024 |
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Net book value | ||||||
At 30 June 2024 |
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At 30 June 2023 |
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7. | Investments | |||||
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Loans to subsidiary undertakings | Other investments | Total | ||||
£ | £ | £ | ||||
Carrying amount at 1 July 2023 |
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Disposals | (0) | (15,800) | (15,800) | |||
Carrying amount at 30 June 2024 |
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The sale on 12th February 2024 of 6320000 Tower Resources (TRP) Shares at the prevailing market price of £0.00022 / share to E A Lines who paid £1390.40 through her Director's Account resulted in a capital loss of £14409.60, thus reducing other investments by £15,800. |
8. | Debtors | |||
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2024 | 2023 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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9. | Creditors: amounts falling due within one year | |||
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2024 | 2023 | |||
£ | £ | |||
Trade creditors |
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Taxation & social security |
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Other creditors |
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10. | Creditors: amounts falling due after one year | |||
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2024 | 2023 | |||
£ | £ | |||
Other |
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11. | Share capital | |||
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2024 | 2023 | |||
£ | £ | |||
Allotted, called up and fully paid: | ||||
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78 | 78 | ||
78 | 78 |
12. | Dividends | |||
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2024 | 2023 | |||
£ | £ | |||
Total dividend payment |
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Related party disclosures | ||
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Controlling party During the period of accounts transactions occurred between this company and a related party, Oilfield Valuation Consultants LLP ("OVC"). The relationship between the parties is EA Lines who is a Member of OVC. OVC is a member of Oilfield Consultants International ("OCI") VAT Group. Ads a "Participator" in OVC (under S455 of the Companies Act 2006 SI 2013/1970). and on behalf of OVC, E A Lines settled office services invoices from OCI, and balancing VAT payments and receipts from OCI, from/to her OCI Director's Loan Account (DLA) and OVC Member's account. The net value of the transactions paid from E A Lines director's account to E A Lines Member's account was £1053. EA Lines also transferred £1390 from her DLA to OCI in consideration for 6320000 Tower Resources shares at the prevailing price of £0.00022/share on 12th February 2024. |
14. | Transactions with directors |
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Elizabeth Lines purchased 6320000 Tower Shares on 12th Feb 2024 at the prevailing market price of £0.00022 / share by paying £1390.40 through her Director's Account. |
15. | Other information |
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A capital loss of £14410 was realised through the sale of 6320000 Tower Resources (TRP) Shares at the prevailing market price of £0.00022 / share. The original investment was £15,800 hence the capital loss of £14410. |