SCYTHIAN OIL LTD

Company Registration Number:
08792379 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2024

Period of accounts

Start date: 01 December 2023

End date: 30 November 2024

SCYTHIAN OIL LTD

Contents of the Financial Statements

for the Period Ended 30 November 2024

Balance sheet
Notes

SCYTHIAN OIL LTD

Balance sheet

As at 30 November 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 30,815,791 30,815,791
Total fixed assets: 30,815,791 30,815,791
Current assets
Total assets less current liabilities: 30,815,791 30,815,791
Creditors: amounts falling due after more than one year: 4 (19,233,687) (19,233,687)
Provision for liabilities: (6,697,937) (6,697,937)
Total net assets (liabilities): 4,884,167 4,884,167
Capital and reserves
Called up share capital: 19,081,386 19,081,386
Profit and loss account: (14,197,219) (14,197,219)
Shareholders funds: 4,884,167 4,884,167

The notes form part of these financial statements

SCYTHIAN OIL LTD

Balance sheet statements

For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 August 2025
and signed on behalf of the board by:

Name: Mark Fletcher
Status: Director

The notes form part of these financial statements

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Other accounting policies

Development costs are capitalised as an intangible asset if all of the following criteria are met: a) the technical feasibility of completing the asset so that it will be available for use or sale; b) the intention to complete the asset and use or sell it; c) the ability to use or sell the asset; d) the asset will generate probable future economic benefits and demonstrate the existence of a market or the usefulness of the asset if it is to be used internally; e) the availability of adequate technical, financial and other resources to complete the development and to use or sell it; f) the ability to measure reliably the expenditure attributable to the intangible asset.

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

2. Employees

2024 2023
Average number of employees during the period 9 9

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Intangible Assets

Total
Cost £
At 01 December 2023 30,815,791
At 30 November 2024 30,815,791
Net book value
At 30 November 2024 30,815,791
At 30 November 2023 30,815,791

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Creditors: amounts falling due after more than one year note

Innogeo Ltd has been providing R&D and engineering works for the Company in credit. The current debt is GBP 19,233,687, and the provision for liabilities is GBP 6,697,937.

SCYTHIAN OIL LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Related party transactions

Name of the related party: Innogeo Ltd
Relationship:
Contractor
Description of the Transaction: Innogeo Ltd provides R&D and engineering services to the Company in credit.
£
Balance at 01 December 2023 19,233,687
Balance at 30 November 2024 19,233,687