Registration number: 12625093

Bakken Redux Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Bakken Redux Ltd

Company Information

Directors

Mr Christopher Goodrick Hellon Ms Katharine Jean Hellon Mr Philip Andrew Hine

Company secretary

Newfield Trust Services Limited

Registered office

Newfield Hall Nantwich Road Minshull Vernon Cheshire CW10 0LR

Bakken Redux Ltd

(Registration number: 12625093)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,355,812	1,449,179
Other financial assets	5	729,584	834,406
		2,085,396	2,283,585
Current assets
Debtors	6	8,202	15,068
Cash at bank and in hand		396,352	197,413
		404,554	212,481
Creditors: Amounts falling due within one year	7	(491,479)	(872,154)
Net current liabilities		(86,925)	(659,673)
Total assets less current liabilities		1,998,471	1,623,912
Provisions for liabilities		(49,746)	(20,554)
Net assets		1,948,725	1,603,358
Capital and reserves
Called up share capital	8	1,000	1,000
Retained earnings		1,947,725	1,602,358
Shareholders' funds		1,948,725	1,603,358

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:
 

......................................... Mr Philip Andrew Hine Director

Bakken Redux Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Newfield Hall
Nantwich Road
Minshull Vernon
Cheshire
CW10 0LR
England

These financial statements were authorised for issue by the Board on 15 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Bakken Redux Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Oil and Gas assets	2.5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Bakken Redux Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4	Tangible assets

	Oil and Gas Assets £	Total £
Cost or valuation
At 1 January 2024	1,756,604	1,756,604
Foreign exchange movements	(7,144)	(7,144)
At 31 December 2024	1,749,460	1,749,460
Depreciation
At 1 January 2024	307,425	307,425
Charge for the year	87,473	87,473
Foreign exchange movements	(1,250)	(1,250)
At 31 December 2024	393,648	393,648
Carrying amount
At 31 December 2024	1,355,812	1,355,812
At 31 December 2023	1,449,179	1,449,179

Included within the net book value of land and buildings above is £1,355,812 (2023 - £1,449,178) in respect of freehold land and buildings.
 

Bakken Redux Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	729,584	729,584
At 31 December 2024	729,584	729,584
Impairment
Carrying amount
At 31 December 2024	729,584	729,584

6

Debtors

	Note	2024 £	2023 £
Income tax asset		8,202	15,068
		8,202	15,068

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Accruals and deferred income	3,910	3,926
Other creditors	487,569	868,228
	491,479	872,154

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	1,000	1,000	1,000	1,000

Bakken Redux Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Retained earnings £	Total £
Foreign currency translation gains/losses	(5,807)	(5,807)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Retained earnings £	Total £
Foreign currency translation gains/losses	(73,681)	(73,681)