Oilfield Consultants International Ltd 02516794 Engineering and corporate services false 1 July 2023 02516794 2023-07-01 2024-06-30 02516794 2023-06-30 02516794 2024-06-30 02516794 2022-07-01 2023-06-30 02516794 2022-06-30 02516794 2023-06-30 02516794 frs102-bus:FRS102 2023-07-01 2024-06-30 02516794 frs102-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02516794 frs102-bus:FullAccounts 2023-07-01 2024-06-30 02516794 frs102-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02516794 frs102-core:CurrentFinancialInstruments 2024-06-30 02516794 frs102-core:CurrentFinancialInstruments 2023-06-30 02516794 frs102-core:Non-currentFinancialInstruments 2024-06-30 02516794 frs102-core:Non-currentFinancialInstruments 2023-06-30 02516794 frs102-core:ShareCapital 2024-06-30 02516794 frs102-core:ShareCapital 2023-06-30 02516794 frs102-core:RetainedEarningsAccumulatedLosses 2024-06-30 02516794 frs102-core:RetainedEarningsAccumulatedLosses 2023-06-30 02516794 frs102-bus:Director1 2023-07-01 2024-06-30 02516794 frs102-core:ComputerEquipment 2023-07-01 2024-06-30 02516794 frs102-core:OfficeEquipment 2023-07-01 2024-06-30 02516794 frs102-core:OwnedAssets 2023-07-01 2024-06-30 02516794 frs102-core:OwnedAssets 2022-07-01 2023-06-30 02516794 frs102-core:ComputerEquipment 2023-06-30 02516794 frs102-core:OfficeEquipment 2023-06-30 02516794 frs102-core:ComputerEquipment 2024-06-30 02516794 frs102-core:OfficeEquipment 2024-06-30 02516794 frs102-core:ComputerEquipment 2023-06-30 02516794 frs102-core:OfficeEquipment 2023-06-30 02516794 frs102-core:Non-currentFinancialInstruments 2023-06-30 02516794 frs102-core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 02516794 frs102-bus:OrdinaryShareClass1 2024-06-30 02516794 frs102-bus:OrdinaryShareClass1 2023-06-30 02516794 frs102-bus:OrdinaryShareClass1 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
02516794
Oilfield Consultants International Ltd
Unaudited Accounts
for the year ended
30 June 2024
Oilfield Consultants International Ltd
Balance Sheet
as at 30 June 2024
Notes
2024
£
2023
£
Fixed assets
Tangible assets 6 2,227 2,620
Investments 7 126,576 142,376
128,803 144,996
Current assets
Debtors 8 260 6,373
Cash at bank and in hand 60,227 14,592
60,487 20,965
Creditors: amounts falling due within one year 9 (25,449) (20,174)
Net current assets / (liabilities) 35,038 791
Total assets less current liabilities 163,841 145,787
Creditors: amounts falling due after more than one year 10 (143,500) (143,500)
Provisions for liabilities (0) (0)
Total net assets (liabilities) 20,341 2,287
Capital and reserves
Called up share capital 11 78 78
Profit and loss account 20,263 2,209
Shareholders' funds 20,341 2,287

Oilfield Consultants International Ltd
Balance Sheet
as at 30 June 2024



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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.

For the year ending 30 June 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

E Lines

Director


Approved by the board on 22 March 2025

Company Number: 02516794 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

5 Warren Close
Hayling Island
PO11 0HP
England

Oilfield Consultants International Ltd
Notes to the Accounts
for the year ended 30 June 2024

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
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
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Computer equipment 15% Reducing Balance
Office equipment 15% Reducing Balance
Investment property
Investment property is included at fair value, with any gains recognised in the profit and loss account for the period in which they occurred. Deferred tax is recognised on these gains at the rate expected to apply when the property is sold.
2. Profit or loss

Profit before tax is stated after charging the following:

2024

2023
£ £
Depreciation - owned assets 393 462
Directors' remuneration 300 300

3. Taxation
2024 2023
£ £
UK Corporation Tax 7,698 2,302
Tax on profit/(loss) on ordinary activities 7,698 2,302

4. Directors' remuneration
2024 2023
£ £
Directors' salaries 300 300
Total 300 300

5. Employees
2024 2023
Average number of employees during the period 1 1

6. Tangible fixed assets
Computer equipment Office equipment Total
Cost or valuation £ £ £
At 1 July 2023 25,094 620 25,714
At 30 June 2024 25,094 620 25,714
Depreciation
At 1 July 2023 23,001 93 23,094
Charge for the period 314 79 393
At 30 June 2024 23,315 172 23,487
Net book value
At 30 June 2024 1,779 448 2,227
At 30 June 2023 2,093 527 2,620

7. Investments
Loans to subsidiary undertakings Other investments Total
£ £ £
Carrying amount at 1 July 2023 1,887 140,489 142,376
Disposals (0) (15,800) (15,800)
Carrying amount at 30 June 2024 1,887 124,689 126,576

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
2024 2023
£ £
Trade debtors 0 5,974
Other debtors 260 399
260 6,373

9. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 43 67
Taxation & social security 7,698 2,302
Other creditors 17,708 17,805
25,449 20,174

10. Creditors: amounts falling due after one year
2024 2023
£ £
Other 143,500 143,500
143,500 143,500

Mere Plantations Ltd, Tectona Syndicate 31: £38500 of the £50,000 investment in Tectona Syndicate 31 is a Deferred Consideration for more than five years
Elizabeth Lines, Director: £105,000


11. Share capital
2024 2023
£ £
Allotted, called up and fully paid:
78 (2023: 78) Ordinary shares of £1.00 each 78 78
78 78

12. Dividends
2024 2023
£ £
Total dividend payment 0 24,024

13. Related party disclosures

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

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

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.