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COMPANY REGISTRATION NUMBER: 8732912

Ocon Marine Oil & Gas Ltd

Filleted Unaudited Financial Statements

30 April 2025

Ocon Marine Oil & Gas Ltd

Financial Statements

Year ended 30 April 2025

Contents | Pages

Statement of financial position | 1 to 2

Notes to the financial statements | 3 to 7

Ocon Marine Oil & Gas Ltd

Statement of Financial Position

30 April 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 6 | 22,808 | 6,415

Current assets

Stocks | 2,000 | 2,000
Debtors | 7 | 133,396 | 105,046
Cash at bank and in hand | 46,511 | 81,660
| --------- | ---------
| 181,907 | 188,706

Creditors: amounts falling due within one year | 8 | ( 56,677) | ( 75,309)
| --------- | ---------
Net current assets | 125,230 | 113,397
| --------- | ---------
Total assets less current liabilities | 148,038 | 119,812

Creditors: amounts falling due after more than one year | 9 | ( 10,119) | ( 1,756)

Provisions

Taxation including deferred tax | 10 | ( 4,333) | ( 1,523)
| --------- | ---------
Net assets | 133,586 | 116,533
| --------- | ---------

Capital and reserves

Called up share capital | 12 | 100 | 100
Profit and loss account | 133,486 | 116,433
| --------- | ---------
Shareholders funds | 133,586 | 116,533
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ocon Marine Oil & Gas Ltd

Statement of Financial Position (continued)

30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

Mr A. G. Davies | Mr M. V. Thomson
Director | Director

Company registration number: 8732912

Ocon Marine Oil & Gas Ltd

Notes to the Financial Statements

Year ended 30 April 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Market Square, Charles Street, Milford Haven, Pembrokeshire, SA73 2AE, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Motor Vehicles | - | 25% reducing balance
| Office Equipment | - | 25% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2024: 6 ).
5. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 374 | 16,128
Adjustments in respect of prior periods | ( 1,875) | –
| ------- | --------
Total current tax | ( 1,501) | 16,128
| ------- | --------

Deferred tax:

Origination and reversal of timing differences | 2,811 | 1,523
| ------- | --------
Tax on profit | 1,310 | 17,651
| ------- | --------

6. Tangible assets

| Motor Vehicles | Office Equipment | Total
| £ | £ | £
Cost |  |  |
At 1 May 2024 | 32,375 | 2,280 | 34,655
Additions | 23,995 | – | 23,995
| -------- | ------- | --------
At 30 April 2025 | 56,370 | 2,280 | 58,650
| -------- | ------- | --------
Depreciation |  |  |
At 1 May 2024 | 26,425 | 1,815 | 28,240
Charge for the year | 7,486 | 116 | 7,602
| -------- | ------- | --------
At 30 April 2025 | 33,911 | 1,931 | 35,842
| -------- | ------- | --------
Carrying amount |  |  |
At 30 April 2025 | 22,459 | 349 | 22,808
| -------- | ------- | --------
At 30 April 2024 | 5,950 | 465 | 6,415
| -------- | ------- | --------

Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

| Motor Vehicles
| £
At 30 April 2025 | 21,716
| --------
At 30 April 2024 | 4,960
| --------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 43,307 | 76,446
Other debtors | 90,089 | 28,600
| --------- | ---------
| 133,396 | 105,046
| --------- | ---------

Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.
8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 17,293 | 38,817
Hire purchase creditors (secured) | 4,471 | 3,733
Corporation tax | – | 16,128
Social security and other taxes | 9,946 | 4,404
Other creditors | 24,967 | 12,227
| -------- | --------
| 56,677 | 75,309
| -------- | --------

The HSBC Bank facilities are secured by a fixed and floating charge dated 23 May 2014 over the assets of the company.
9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Hire purchase creditors (secured) | 10,119 | 1,756
| -------- | -------

10. Provisions

| Deferred tax (note 11)
| £
At 1 May 2024 | 1,523
Additions | 2,810
| -------
At 30 April 2025 | 4,333
| -------

11. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 10) | 4,333 | 1,523
| ------- | -------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 4,333 | 1,523
| ------- | -------

12. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

13. Related party transactions
The company was under the control of Mr A. G. Davies and Mr M. V. Thomson throughout the current and previous year. Mr A. G. Davies and Mr M. V. Thomson are the managing directors and joint shareholders. As at the year end £7,204 (2024 - £7,204) was owed to the company by Mr A. G. Davies and Mr M. V. Thomson, the managing directors.