REGISTERED NUMBER: 05690012 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

MSL Oilfield Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Clark

P Lauretti

D S M Clark

SECRETARY:

Mrs S M Clark

REGISTERED OFFICE:

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

BUSINESS ADDRESS:

Unit B8 Millbrook Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4BZ

REGISTERED NUMBER:

05690012 (England and Wales)

ACCOUNTANT:

Richard Allen & Associates

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

FIXED ASSETS

Tangible assets

4

241,758

255,770

CURRENT ASSETS

Stocks

375,614

405,836

Debtors

5

2,576,252

2,509,150

Investments

6

475,000

475,000

Cash at bank

203,048

147,028

3,629,914

3,537,014

CREDITORS

Amounts falling due within one year

7

442,571

304,383

NET CURRENT ASSETS

3,187,343

3,232,631

TOTAL ASSETS LESS CURRENT LIABILITIES

3,429,101

3,488,401

CREDITORS

Amounts falling due after more than one year

8

13,333

87,009

NET ASSETS

3,415,768

3,401,392

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

139,870

139,870

Retained earnings

3,274,898

3,260,522

SHAREHOLDERS' FUNDS

3,415,768

3,401,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

M Clark - Director

1.	STATUTORY INFORMATION

MSL Oilfield Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Not provided

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance and Not provided

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

5,649

519,410

525,059

Additions

-

18,119

18,119

Disposals

-

(650

)

(650

)

At 31 March 2025

5,649

536,879

542,528

DEPRECIATION

At 1 April 2024

-

269,289

269,289

Charge for year

-

32,054

32,054

Eliminated on disposal

-

(573

)

(573

)

At 31 March 2025

-

300,770

300,770

NET BOOK VALUE

At 31 March 2025

5,649

236,109

241,758

At 31 March 2024

5,649

250,121

255,770

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

68,031

DEPRECIATION

At 1 April 2024

29,763

Charge for year

9,567

At 31 March 2025

39,330

NET BOOK VALUE

At 31 March 2025

28,701

At 31 March 2024

38,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

198,214

248,451

Amounts owed by group undertakings

320,415

222,504

Other debtors

2,057,623

2,038,195

2,576,252

2,509,150

6.	CURRENT ASSET INVESTMENTS

The current asset investment represents shares held in Clearwell Energy Holdings Limited which is 47.5% of the issued share capital amounting to £475,000.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

40,000

40,000

Hire purchase contracts

32,009

5,590

Trade creditors

274,562

209,090

Amounts owed to group undertakings

32,161

-

Taxation and social security

18,754

16,345

Other creditors

45,085

33,358

442,571

304,383

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

13,333

55,000

Hire purchase contracts

-

32,009

13,333

87,009