MDOil Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05275394

MDOil Limited

Filleted Unaudited Financial Statements

30 April 2025

MDOil Limited

Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,253	1,617

Current assets

Debtors	7	2,503	20,870

Creditors: amounts falling due within one year	8	84,506	91,775
		--------	--------
Net current liabilities		82,003	70,905
		--------	--------
Total assets less current liabilities		( 80,750)	( 69,288)

Creditors: amounts falling due after more than one year	9	937	6,563

Provisions	10	238	307
		--------	--------
Net liabilities		( 81,925)	( 76,158)
		--------	--------

Capital and reserves

Called up share capital	11	100	100
Profit and loss account	12	( 82,025)	( 76,258)
		--------	--------
Shareholder deficit		( 81,925)	( 76,158)
		--------	--------

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.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MDOil Limited

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 21 April 2026 , and are signed on behalf of the board by:

Mr C J Matchette-Downes
Director

Company registration number: 05275394

MDOil Limited

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 3b Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG.

2. Statement of compliance

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

Disclosure exemptions

The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.

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.

Income tax

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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	-	20% reducing balance
Equipment	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 May 2024 and 30 April 2025	2,758	3,754	6,512
	-------	-------	-------
Depreciation
At 1 May 2024	1,440	3,455	4,895
Charge for the year	264	100	364
	-------	-------	-------
At 30 April 2025	1,704	3,555	5,259
	-------	-------	-------
Carrying amount
At 30 April 2025	1,054	199	1,253
	-------	-------	-------
At 30 April 2024	1,318	299	1,617
	-------	-------	-------

6. Investments

	Other investments other than loans
	£
Cost
At 1 May 2024	142,112
Additions	10,003
Disposals	( 3,550)
	---------
At 30 April 2025	148,565
	---------
Impairment
At 1 May 2024	142,112
Disposals	( 3,550)
Impairment losses	10,003
	---------
At 30 April 2025	148,565
	---------

Carrying amount
At 30 April 2025	–
	---------
At 30 April 2024	–
	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	96	2,135
Other debtors	2,407	18,735
	-------	--------
	2,503	20,870
	-------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	11,211	20,058
Trade creditors	883	649
Corporation tax	1,063	4,266
Director loan accounts	46,052	41,552
Other creditors	25,297	25,250
	--------	--------
	84,506	91,775
	--------	--------

Included in creditors is a government-backed bank loan. Interest is charged at a rate of 2.5% above the base rate after the first 12 months.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	937	6,563
	----	-------

10. Provisions

	Deferred tax
	£
At 1 May 2024	307
Additions	( 69)
	----
At 30 April 2025	238
	----

11. Called up share capital

Issued, called up and fully paid

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

12. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

13. Director's advances, credits and guarantees

The Company owed the director £46,552 at the balance sheet date (2024: £41,552). Amounts advanced to the directors amounted to £Nil (2024: £28,907) and amounts repaid amounted to £5,000 (2024: £43,000). The loan is interest free and repayable on demand.

14. Related party transactions

CaribX (UK) Limited During the year, the company made sales of £104,174 (2024: £25,840) to the above related party, a company in which C Matchette-Downes is a director. At the balance sheet date, £4,421 was owed to the company at the year end (2024: £4,421). Helium Resources Limited During the year, the company made sales of £108 (2024: £502) to the above related party a company in which C Matchette-Downes is a director. No purchases were made from the above related party in the year and £96 (2024: £135) was owed to the company at the year end. C Matchette-Downes resigned as a director on the 16th of October 2024. Helios Aragon Pte Ltd During the year, the company made sales of £Nil (2024: £3,942) to the above related party a company in which C Matchette-Downes is a director. No purchases were made from the above related party in the year and £nil (2024: £nil) was owed to the company at the year end. C Matchette-Downes resigned as a director on the 5th of August 2023.