Company Registration No. 09576799 (England and Wales)
THE OIL LADY LTD
Unaudited accounts
for the year ended 29 May 2024
THE OIL LADY LTD
Unaudited accounts
Contents
THE OIL LADY LTD
Company Information
for the year ended 29 May 2024
Company Number
09576799 (England and Wales)
Registered Office
ASH TREE HOUSE NORTH END
LITTLE YELDHAM
HALSTEAD
CO9 4LQ
ENGLAND
Accountants
Mr Andrew Ball
ASB Bookkeeping Limited
25 Adastral Close
Newmarket
Suffolk
CB8 0PX
THE OIL LADY LTD
Statement of financial position
as at 29 May 2024
Tangible assets
6,749
5,704
Cash at bank and in hand
38,381
74,883
Creditors: amounts falling due within one year
(119,501)
(89,726)
Net current assets
2,267
50,917
Total assets less current liabilities
9,016
56,621
Creditors: amounts falling due after more than one year
(7,396)
(18,228)
Called up share capital
1,162
1,162
Share premium
59,488
59,488
Profit and loss account
(59,030)
(22,257)
Shareholders' funds
1,620
38,393
For the year ending 29 May 2024 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 August 2025 and were signed on its behalf by
Sheila Considine
Director
Company Registration No. 09576799
THE OIL LADY LTD
Notes to the Accounts
for the year ended 29 May 2024
THE OIL LADY LTD is a private company, limited by shares, registered in England and Wales, registration number 09576799. The registered office is ASH TREE HOUSE NORTH END, LITTLE YELDHAM, HALSTEAD, CO9 4LQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 30 May 2023
141
25,478
675
7,656
33,950
Additions
2,136
-
-
1,583
3,719
At 29 May 2024
2,277
25,478
675
9,239
37,669
At 30 May 2023
35
21,000
675
6,536
28,246
Charge for the year
569
1,120
-
985
2,674
At 29 May 2024
604
22,120
675
7,521
30,920
At 29 May 2024
1,673
3,358
-
1,718
6,749
At 30 May 2023
106
4,478
-
1,120
5,704
THE OIL LADY LTD
Notes to the Accounts
for the year ended 29 May 2024
Amounts falling due within one year
Trade debtors
31,843
2,386
Deferred tax asset
12,972
4,293
Accrued income and prepayments
11,443
29,922
Other debtors
15,183
14,158
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,631
7,151
Trade creditors
100,958
51,807
Taxes and social security
6,133
18,073
Loans from directors
10,238
10,630
7
Creditors: amounts falling due after more than one year
2024
2023
8
Deferred taxation
2024
2023
Accelerated capital allowances
(12,972)
(4,293)
Provision at start of year
(4,293)
(5,681)
Charged to the profit and loss account
1,282
1,388
Credited to other comprehensive income
(9,961)
-
Provision at end of year
(12,972)
(4,293)
A deferred tax asset of £14,254 (2024: £4,293) has been recognised in respect of tax losses carried forward. A deferred tax liability of £1,282 (2024: £1,388) has been recognised in respect of timing differences on fixed assets.
The directors consider that sufficient future taxable profits will be available to utilise these losses. Deferred tax is calculated at 19%.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).