Northern Oils Scotland Ltd 31/03/2025 iXBRL

Company registration number: 10250833

Northern Oils Scotland Ltd

Unaudited filleted financial statements

31 March 2025

Northern Oils Scotland Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Northern Oils Scotland Ltd

Directors and other information


	Directors	Mr Mark Lord
		Mr Graeme Carney
		Ms Yvonne Donaldson


	Secretary	Mrs Y Donaldson


	Company number	10250833


	Registered office	31-33 Intake Road
		Bolsover Business Park
		Bolsover
		D44 6BB


	Business address	6 March Lane
		Buckie
		AB56 4BB


	Accountants	Williamsons Accountants
		THE Old School House
		Matlock Road
		Chesterfield
		S42 7LF

Northern Oils Scotland Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Northern Oils Scotland Ltd

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northern Oils Scotland Ltd for the year ended 31 March 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

Williamsons Accountants

FCCA

THE Old School House

Matlock Road

Chesterfield

S42 7LF

8 September 2025

Northern Oils Scotland Ltd

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	600,877		587,813
		_______		_______
			600,877		587,813

Current assets
Stocks		755,952		634,843
Debtors	7	511,955		589,026
Cash at bank and in hand		30,425		22,885
		_______		_______
		1,298,332		1,246,754
Creditors: amounts falling due
within one year	8	( 1,033,487)		( 926,386)
		_______		_______
Net current assets			264,845		320,368
			_______		_______
Total assets less current liabilities			865,722		908,181


Provisions for liabilities			( 54,381)		( 54,380)

			_______		_______
Net assets			811,341		853,801
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			811,241		853,701
			_______		_______
Shareholders funds			811,341		853,801
			_______		_______

For the year ending 31 March 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.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 September 2025 , and are signed on behalf of the board by:

Mr Mark Lord

Director

Company registration number: 10250833

Northern Oils Scotland Ltd

Notes to the financial statements

Year ended 31 March 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 31-33 Intake Road, Bolsover Business Park, Bolsover, D44 6BB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Short leasehold property	-	10 %	reducing balance
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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 stocks to their present location and condition.

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 in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Staff costs

The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	246,903	264,830
Social security costs	27,331	27,341
Other pension costs	125,798	52,766
	_______	_______
	400,032	344,937
	_______	_______

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	28,940	28,940
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	28,940	28,940
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	-	-
	_______	_______

6. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	370,291	107,495	23,541	345,093	846,420
Additions	150	7,305	3,536	124,450	135,441
Disposals	-	-	-	( 112,180)	( 112,180)
	_______	_______	_______	_______	_______
At 31 March 2025	370,441	114,800	27,077	357,363	869,681
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	19,943	69,608	18,250	150,806	258,607
Charge for the year	7,999	16,967	1,487	52,496	78,949
Disposals	-	-	-	( 68,752)	( 68,752)
	_______	_______	_______	_______	_______
At 31 March 2025	27,942	86,575	19,737	134,550	268,804
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	342,499	28,225	7,340	222,813	600,877
	_______	_______	_______	_______	_______
At 31 March 2024	350,348	37,887	5,291	194,287	587,813
	_______	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	495,549	585,915
Other debtors	16,406	3,111
	_______	_______
	511,955	589,026
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	424,954	318,647
Corporation tax	148,396	147,095
Social security and other taxes	7,694	9,406
Other creditors	452,443	451,238
	_______	_______
	1,033,487	926,386
	_______	_______

Included in Other Creditors is a balance due to Barclays of £399979 (2024 £387553) for invoice discounting. Barclays hold a fixed and floating chargeover the company assets in realtion to this debt.

9. Related party transactions

Aztec Oils Ltd is a connected company by virtue of Mark Lord's significant influence. Included within Creditors is an amount of £269323 (2024 £179205) due to Aztec Oils Ltd.

10. Controlling party

Mr Mark Lord as a controliing interest in Northern Oils Scotland Ltd by virtue of his ownership of 51% of the ordinary shareholding of the company.