| REGISTERED NUMBER: |
| OIL DIRECT (NI) LIMITED |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| OIL DIRECT (NI) LIMITED |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 5 |
| OIL DIRECT (NI) LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 36-38 Northland Row |
| Dungannon |
| Co. Tyrone |
| BT71 6AP |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Oil Direct (NI) Limited |
| The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies. |
| In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us. |
| This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report. |
| We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements. |
| You have acknowledged on the Statement of Financial Position as at 31 March 2025 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year. |
| We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. |
| Chartered Accountants |
| 36-38 Northland Row |
| Dungannon |
| Co. Tyrone |
| BT71 6AP |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Statement of Financial Position |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| NON-CURRENT ASSETS |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Receivables | 6 |
| Cash at bank |
| PAYABLES |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PAYABLES |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Statement of Financial Position - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Oil Direct (NI) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The Financial Statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain non-current assets. |
| The accounting policies detailed below have been applied consistently throughout the year.. |
| Revenue |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Property, plant and equipment |
| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. 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. |
| The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: |
| Plant & machinery | - 25% reducing balance |
| Fixtures & fittings | - 25% reducing balance |
| Motor vehicles | - 25% reducing balance |
| Computer equipment | - 25% straight line |
| Freehold property | - 0% straight line |
| The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
| Inventories |
| Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
| Taxation |
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Property, plant and equipment held under leasing and hire purchase arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement. |
| 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 income statement in the period to which they relate. |
| Cash flow statement |
| The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
| Government grants |
| Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received. |
| Share capital |
| Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 5. | PROPERTY, PLANT AND EQUIPMENT - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | RECEIVABLES |
| 2025 | 2024 |
| £ | £ |
| Trade receivables |
| Amounts owed by associates |
| Other receivables |
| 7. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans & overdrafts |
| Hire purchase contracts |
| Trade payables |
| Amounts owed to group undertakings |
| Taxation & social security |
| Other payables |
| 8. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Hire purchase liabilities are secured against the assets to which they relate. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| OIL DIRECT (NI) LIMITED (REGISTERED NUMBER: NI618028) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At 31 March 2025 the amount owed by the company to the director was £32,916. (2024: £15,031 was owed by the director to the company). |