| Registered number |
| Registered number: | |||||||
| Balance Sheet | |||||||
| as at |
|||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | 3 | ||||||
| Current assets | |||||||
| Stocks | |||||||
| Debtors | 4 | ||||||
| Cash at bank and in hand | |||||||
| Creditors: amounts falling due within one year | 5 | ( |
( |
||||
| Net current liabilities | ( |
( |
|||||
| Net liabilities | ( |
( |
|||||
| Capital and reserves | |||||||
| Called up share capital | |||||||
| Profit and loss account | ( |
( |
|||||
| Shareholders' funds | ( |
( |
|||||
| S Bushell | |||||||
| Director | |||||||
| Approved by the board on |
|||||||
| Notes to the Accounts | |||||||||
| for the year ended |
|||||||||
| 1 | Accounting policies | ||||||||
| Basis of preparation | |||||||||
| Going concern | |||||||||
| The shareholder's deficit at 31 December 2024 is £(3,628,714) (2023 - £(3,578,436)). The directors are of the opinion that the company has adequate rescources to continue in operational existence for the forseeable future, being not less than one year from the approval of these financial statements. The four investors have undertaken to give such financial support as the company requires to enable it to continue to trade and pay its liabilities as they fall due for the forseeable future. The loans from the four investors were interest free and all of the investors have confirmed that they will not demand repayment to the detriment of the company. For these reasons, and based on the information available to the directors at the date of approval, the directors consider it appropriate to adopt the going concern basis in preparing these financial statements. | |||||||||
| Turnover | |||||||||
| Intangible fixed assets | |||||||||
Capitalised expenditures are classified as an intangible asset and are stated at cost less provision for impairment. The carrying value of capitalised oil exploration and development costs is assessed annually by way of ceiling tests, having regard to estimated reserves to determine whether the value is excessive. Provision is made for any permanent impairments so identified. Capitalised expenditures are depleted on the unit-of-production method using estimated gross proven petroleum and natural gas reserves as determined by management. Costs of acquiring and evaluating unproven properties are excluded from the depletion calculation until it is determined whether or not proven reserves are attributable to the properties or impairment occurs. Proceeds from the sale of petroleum and natural gas properties and related equipment are applied against capitalised costs with any excess being credited to the profit and loss account. |
|||||||||
| Tangible fixed assets | |||||||||
| Plant and machinery | 33.33% straight line | ||||||||
| Stocks | |||||||||
| Debtors | |||||||||
| Creditors | |||||||||
| Taxation | |||||||||
| Foreign currency translation | |||||||||
| 2 | Employees | 2024 | 2023 | ||||||
| Number | Number | ||||||||
| Average number of persons employed by the company | |||||||||
| 3 | Tangible fixed assets | ||||||||
| Plant and machinery etc | Plant and machinery etc | ||||||||
| £ | £ | ||||||||
| Cost | |||||||||
| At 1 January 2024 | |||||||||
| At 31 December 2024 | |||||||||
| Depreciation | |||||||||
| At 1 January 2024 | |||||||||
| At 31 December 2024 | |||||||||
| Net book value | |||||||||
| At 31 December 2024 | |||||||||
| At 31 December 2023 | |||||||||
| 4 | Debtors | 2024 | 2023 | ||||||
| £ | £ | ||||||||
| Trade debtors | - | ||||||||
| Other debtors | |||||||||
| 5 | Creditors: amounts falling due within one year | 2024 | 2023 | ||||||
| £ | £ | ||||||||
| Trade creditors | - | ||||||||
| Amounts owed to group undertakings and undertakings in which the company has a participating interest | |||||||||
| Accruals | 1,499 | 1,251 | |||||||
| 6 | Related party transactions | ||||||||
| Directors | |||||||||
| Summary of transactions with other related parties | |||||||||
| Companies owned by the directors and shareholders and companies in which the directors are shareholders. | |||||||||
| Expenditure with and payable to related parties | |||||||||
| 2024 | 2023 | ||||||||
| £ | £ | ||||||||
| Other related parties | |||||||||
| Rendering of services | 46,500 | 28,200 | |||||||
| Amounts payable to related parties | 268,059 | 216,474 | |||||||
| Loans from related parties | |||||||||
| Key | Other related | Total | |||||||
| Management | paries | ||||||||
| 2024 | |||||||||
| At start of period | 18,263 | 3,363,572 | 3,381,835 | ||||||
| Advanced/(repaid) | 200 | - | 200 | ||||||
| At end of period | 18,463 | 3,363,572 | 3,382,035 | ||||||
| 2023 | |||||||||
| At start of period | 15,699 | 3,374,852 | 3,390,551 | ||||||
| Advanced/(repaid) | 2,564 | (11,280) | (8,716) | ||||||
| At end of period | 18,263 | 3,363,572 | 3,381,835 | ||||||
| Terms of loans from related parties | |||||||||
| The loans from related parties were interst free and all parties have confirmed that they will not demand repayment to the detriment of the company. | |||||||||
| 7 | Controlling party | ||||||||
| 8 | Other information | ||||||||
| Cirque Energy (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is: | |||||||||
| 5a Bath Place | |||||||||
| Taunton | |||||||||
| Somerset | |||||||||
| TA1 4ER | |||||||||