Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseConsultancy in the petroleum sector1815truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03196027 2024-01-01 2024-12-31 03196027 2023-01-01 2023-12-31 03196027 2024-12-31 03196027 2023-12-31 03196027 c:Director1 2024-01-01 2024-12-31 03196027 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 03196027 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 03196027 d:Buildings d:ShortLeaseholdAssets 2024-12-31 03196027 d:Buildings d:ShortLeaseholdAssets 2023-12-31 03196027 d:MotorVehicles 2024-01-01 2024-12-31 03196027 d:MotorVehicles 2024-12-31 03196027 d:MotorVehicles 2023-12-31 03196027 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03196027 d:FurnitureFittings 2024-01-01 2024-12-31 03196027 d:FurnitureFittings 2024-12-31 03196027 d:FurnitureFittings 2023-12-31 03196027 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03196027 d:OfficeEquipment 2024-01-01 2024-12-31 03196027 d:OfficeEquipment 2024-12-31 03196027 d:OfficeEquipment 2023-12-31 03196027 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03196027 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03196027 d:CurrentFinancialInstruments 2024-12-31 03196027 d:CurrentFinancialInstruments 2023-12-31 03196027 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03196027 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03196027 d:ShareCapital 2024-12-31 03196027 d:ShareCapital 2023-12-31 03196027 d:RetainedEarningsAccumulatedLosses 2024-12-31 03196027 d:RetainedEarningsAccumulatedLosses 2023-12-31 03196027 c:FRS102 2024-01-01 2024-12-31 03196027 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03196027 c:FullAccounts 2024-01-01 2024-12-31 03196027 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03196027 2 2024-01-01 2024-12-31 03196027 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 03196027












EURO PETROLEUM CONSULTANTS LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 DECEMBER 2024



















 


img224c.png
01483 755 399
hamlyns.com

 
EURO PETROLEUM CONSULTANTS LTD
REGISTERED NUMBER: 03196027

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
133,948
141,334

  
133,948
141,334

Current assets
  

Debtors: amounts falling due within one year
 5 
396,003
329,498

Cash at bank and in hand
  
483,746
797,440

  
879,749
1,126,938

Creditors: amounts falling due within one year
 6 
(368,635)
(360,297)

Net current assets
  
 
 
511,114
 
 
766,641

Total assets less current liabilities
  
645,062
907,975

  

Net assets
  
645,062
907,975


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
645,060
907,973

  
645,062
907,975


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 July 2025.


C Chapman
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
EURO PETROLEUM CONSULTANTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


Statutory information

Euro Petroleum Consultants Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered address is as below:
Registered number: 03196027
Registered office: 6 Hale End, Hook Heath, Woking, GU22 0LH

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.



The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue its operations for the foreseeable future and will be able to meet its obligations as they become due. Management has assessed the company’s ability to continue as a going concern and has considered the following factors.
The company maintains a healthy balance sheet with substantial reserves, including retained earnings and cash and cash equivalents. These reserves provide a strong financial foundation and support the company’s ongoing operations. The company also holds a strong market position within its industry, with a diverse customer base and long-standing customer relationships. 

Page 2

 
EURO PETROLEUM CONSULTANTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pound Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
EURO PETROLEUM CONSULTANTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both cost and reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
On Cost
Motor vehicles
-
25%
On reducing balance
Fixtures and fittings
-
25%
On reducing balance
Office equipment
-
25%
On reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.10

Deferred taxation

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 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
EURO PETROLEUM CONSULTANTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 15).


4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
235,000
18,440
33,660
73,487
360,587


Additions
-
-
48
-
48



At 31 December 2024

235,000
18,440
33,708
73,487
360,635



Depreciation


At 1 January 2024
104,575
18,214
32,221
64,243
219,253


Charge for the year on owned assets
4,700
56
367
2,311
7,434



At 31 December 2024

109,275
18,270
32,588
66,554
226,687



Net book value



At 31 December 2024
125,725
170
1,120
6,933
133,948



At 31 December 2023
130,425
226
1,439
9,244
141,334

Page 5

 
EURO PETROLEUM CONSULTANTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
239,601
224,082

Other debtors
10,812
4,564

Prepayments and accrued income
145,590
100,852

396,003
329,498



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
262,566
267,817

Other taxation and social security
24,183
41,144

Other creditors
38,375
37,740

Accruals and deferred income
43,511
13,596

368,635
360,297



7.


Ultimate Controllng Party

The company is controlled by Mr C Chapman and Mrs D Chapman by virtue of their shareholdings.

Page 6