REGISTERED NUMBER: 05359248 (England and Wales)

Financial Statements

for the Year Ended 28th February 2025

for

Cbm Oil Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Villaume

REGISTERED OFFICE:

116 Ballards Lane

London

N3 2DN

REGISTERED NUMBER:

05359248 (England and Wales)

FIXED ASSETS

Intangible assets

4

68,267

74,473

Tangible assets

5

-

-

68,267

74,473

CURRENT ASSETS

Debtors

6

2,391,995

2,391,995

CREDITORS

Amounts falling due within one year

7

(1,127,545

)

(1,104,105

)

NET CURRENT ASSETS

1,264,450

1,287,890

TOTAL ASSETS LESS CURRENT LIABILITIES

1,332,717

1,362,363

CAPITAL AND RESERVES

Called up share capital

3,741,694

3,741,694

Share premium

956,890

956,890

Retained earnings

(3,365,867

)

(3,336,221

)

SHAREHOLDERS' FUNDS

1,332,717

1,362,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22nd May 2026 and were signed by:

M Villaume - Director

1.	STATUTORY INFORMATION

Cbm Oil Ltd is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The 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.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less any accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Goodwill is not subject to amortisation but is tested for impairment.

Negative goodwill arising on an acquisition is recognised directly in the income statement. On disposal of a subsidiary or a jointly controlled entity, the attributable amount of goodwill is included in the determination of the profit or loss recognised in the income statement on disposal.

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class - Joint operating agreement licence

Amortisation method and rate - 24 year straight line method

Tangible fixed assets

Property, plant and equipment is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment 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:

Fixtures and fittings over its useful economic life

Property, plant and equipment over its useful economic life

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.

Going concern

The financial statements have been prepared on a going concern basis.

When assessing the foreseeable future, the directors have looked at a period of twelve months from the date of approval of this report. The forecast cashflow requirements of the business are contingent upon the ability of the company to generate future funding.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st March 2024

and 28th February 2025

148,945

AMORTISATION

At 1st March 2024

74,472

Charge for year

6,206

At 28th February 2025

80,678

NET BOOK VALUE

At 28th February 2025

68,267

At 29th February 2024

74,473

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st March 2024

and 28th February 2025

380

DEPRECIATION

At 1st March 2024

and 28th February 2025

380

NET BOOK VALUE

At 28th February 2025

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,391,995

2,391,995

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

164,471

164,471

Other creditors

963,074

939,634

1,127,545

1,104,105

8.	RELATED PARTY DISCLOSURES

Summary of transactions with parent entities:

As at the balance sheet date the Company owed £164,471 (2024: £164,471) to its parent company Etech Investissements S.A. for loans made. These loans are non-interest bearing and repayable on demand.

Summary of transactions with other related parties:

As at the balance sheet date the company owed £930,928 (2024: £922,687), shown in Other Creditors, to companies controlled by the beneficial owner. The loans were provided for working capital and are non-interest bearing and repayable on demand. The amounts are broken down as follows:

Rendul Securities Ltd - £36,000 (2024: £36,000)

Forest Partners Ltd - £30,338 (2024: £30,338)

Alessandro Benedetti - £864,590 (2024: £856,350)