IRIS Accounts Production v25.1.0.734 05424055 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054240552023-04-30054240552024-04-30054240552023-05-012024-04-30054240552022-04-30054240552022-05-012023-04-30054240552023-04-3005424055ns15:EnglandWales2023-05-012024-04-3005424055ns14:PoundSterling2023-05-012024-04-3005424055ns10:Director12023-05-012024-04-3005424055ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005424055ns10:SmallEntities2023-05-012024-04-3005424055ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005424055ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005424055ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005424055ns10:AbridgedAccounts2023-05-012024-04-3005424055ns10:Director22023-05-012024-04-3005424055ns10:Director32023-05-012024-04-3005424055ns10:RegisteredOffice2023-05-012024-04-3005424055ns5:CurrentFinancialInstruments2024-04-3005424055ns5:CurrentFinancialInstruments2023-04-3005424055ns5:Non-currentFinancialInstruments2024-04-3005424055ns5:Non-currentFinancialInstruments2023-04-3005424055ns5:RetainedEarningsAccumulatedLosses2024-04-3005424055ns5:RetainedEarningsAccumulatedLosses2023-04-3005424055ns5:FurnitureFittings2023-05-012024-04-3005424055ns5:ComputerEquipment2023-05-012024-04-3005424055ns10:Director222023-04-3005424055ns10:Director222022-04-3005424055ns10:Director222023-05-012024-04-3005424055ns10:Director222022-05-012023-04-3005424055ns10:Director222024-04-3005424055ns10:Director222023-04-30
REGISTERED NUMBER: 05424055 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

BRITISH OIL SECURITY SYNDICATE LIMITED

BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRITISH OIL SECURITY SYNDICATE LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: K Eastwood
Mrs L D Eastwood
Mrs C L Nichol



REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT



REGISTERED NUMBER: 05424055 (England and Wales)



BANKERS: Lloyds Bank PLC
73 The Parade
Leamington Spa
Warwickshire
CV32 4BB

BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,319 5,949

CURRENT ASSETS
Debtors 103,149 285,702
Prepayments and accrued income 994 11,253
Cash at bank 1,082,203 936,466
1,186,346 1,233,421
CREDITORS
Amounts falling due within one year 572,909 780,252
NET CURRENT ASSETS 613,437 453,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

618,756

459,118

CREDITORS
Amounts falling due after more than one
year

(10,833

)

(20,833

)

ACCRUALS AND DEFERRED INCOME (36,422 ) (45,934 )
NET ASSETS 571,501 392,351

RESERVES
Retained earnings 571,501 392,351
571,501 392,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)

ABRIDGED BALANCE SHEET - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





Mrs C L Nichol - Director


BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

British Oil Security Syndicate 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 33% on cost
Computer equipment - 33% on cost

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

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.

BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 24,342
Additions 3,034
At 30 April 2024 27,376
DEPRECIATION
At 1 May 2023 18,393
Charge for year 3,664
At 30 April 2024 22,057
NET BOOK VALUE
At 30 April 2024 5,319
At 30 April 2023 5,949

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
K Eastwood
Balance outstanding at start of year 176 -
Amounts advanced 85 176
Amounts repaid (261 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 176

BRITISH OIL SECURITY SYNDICATE LIMITED (REGISTERED NUMBER: 05424055)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. PENSION COMMITMENTS

Included within creditors is a balance due to pension providers of £542 (2023 - £162) representing contributions owed to the funds.