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REGISTERED NUMBER: NI610356 (Northern Ireland)















OIL DIRECT LIMITED

Unaudited Financial Statements for the Year Ended 28 February 2025






OIL DIRECT LIMITED (REGISTERED NUMBER: NI610356)






Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


OIL DIRECT LIMITED

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: Mr John Brannigan
Mrs Colleen Brannigan





REGISTERED OFFICE: 10 Circular Road
Dromore
Co. Down
BT25 1AL





REGISTERED NUMBER: NI610356 (Northern Ireland)





ACCOUNTANTS: Cooper Parry Advisory Limited
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 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 28 February 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 28 February 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.






Cooper Parry Advisory Limited
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP


31 July 2025

OIL DIRECT LIMITED (REGISTERED NUMBER: NI610356)

Statement of Financial Position
28 FEBRUARY 2025

2025 2024
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 335,211 338,522
335,211 338,522

CURRENT ASSETS
Receivables 7 385,264 431,652
Cash at bank 299,233 127,880
684,497 559,532
PAYABLES
Amounts falling due within one year 8 (434,210 ) (380,776 )
NET CURRENT ASSETS 250,287 178,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,498

517,278

PAYABLES
Amounts falling due after more than
one year

9

(3,333

)

(13,342

)

PROVISIONS FOR LIABILITIES (43,431 ) (43,431 )
NET ASSETS 538,734 460,505

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 538,730 460,501
SHAREHOLDERS' FUNDS 538,734 460,505

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

OIL DIRECT LIMITED (REGISTERED NUMBER: NI610356)

Statement of Financial Position - continued
28 FEBRUARY 2025


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

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 31 July 2025 and were signed on its behalf by:





Mr John Brannigan - Director


OIL DIRECT LIMITED (REGISTERED NUMBER: NI610356)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Oil Direct Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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- 15% straight line
Fixtures & fittings- 25% reducing balance
Computer equipment- 25% 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.

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 LIMITED (REGISTERED NUMBER: NI610356)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 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 the 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 6 (2024 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 March 2024
and 28 February 2025 300,000
AMORTISATION
At 1 March 2024
and 28 February 2025 300,000
NET BOOK VALUE
At 28 February 2025 -
At 29 February 2024 -

OIL DIRECT LIMITED (REGISTERED NUMBER: NI610356)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 March 2024 574,862 15,638 833 591,333
Additions 90,230 371 - 90,601
At 28 February 2025 665,092 16,009 833 681,934
DEPRECIATION
At 1 March 2024 241,852 10,289 670 252,811
Charge for year 92,389 1,361 162 93,912
At 28 February 2025 334,241 11,650 832 346,723
NET BOOK VALUE
At 28 February 2025 330,851 4,359 1 335,211
At 29 February 2024 333,010 5,349 163 338,522

7. RECEIVABLES
2025 2024
£ £
Trade receivables 251,487 317,444
Amounts owed by group undertakings 124,324 -
Amounts owed by associates - 10,160
Other receivables 9,453 104,048
385,264 431,652

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans & overdrafts 10,000 9,991
Trade payables 222,447 231,085
Taxation & social security 41,654 9,600
Other payables 160,109 130,100
434,210 380,776

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2025 2024
£ £
Bank loans 3,333 13,342

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
4 Ordinary 1 4 4

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 28 February 2025 the amount owed by the director to the company was £30,000. (2024: £100,965 was owed from the company to the director).