ACCOUNTS - Final Accounts preparation

Registered number: 03196027

EURO PETROLEUM CONSULTANTS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED

31 DECEMBER 2025

01483 755 399

hamlyns.com

EURO PETROLEUM CONSULTANTS LTD

REGISTERED NUMBER: 03196027

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
		£		£

Fixed assets
Tangible assets	4		125,946		133,948
			125,946		133,948
Current assets
Debtors: amounts falling due within one year	5	317,831		396,003
Cash at bank and in hand		302,842		483,746
		620,673		879,749
Creditors: amounts falling due within one year	6	(389,772)		(368,635)
Net current assets			230,901		511,114
Total assets less current liabilities			356,847		645,062
Provisions for liabilities
Deferred tax	7	(935)		-
			(935)		-
Net assets			355,912		645,062

Capital and reserves
Called up share capital	2	2
Profit and loss account	355,910	645,060
	355,912	645,062

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2026.

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EURO PETROLEUM CONSULTANTS LTD

REGISTERED NUMBER: 03196027

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

___________________________

Colin Chapman

Director

The notes on pages 3 to 9 form part of these financial statements.

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	Statutory information

Euro Petroleum Consultants Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 03196027 and registered address is located at 6 Hale End, Hook Heath, Woking, GU22 0LH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue its operations for the foreseeable future and will be able to meet its obligations as they become due. Management has assessed the company’s ability to continue as a going concern and has considered the following factors.

The company maintains a healthy balance sheet with substantial reserves, including retained earnings and cash and cash equivalents. These reserves provide a strong financial foundation and support the company’s ongoing operations. The company also holds a strong market position within its industry, with a diverse customer base and long-standing customer relationships.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Pound Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both cost and reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property	-	2%	On Cost
Motor vehicles	-	25%	On reducing balance
Fixtures and fittings	-	25%	On reducing balance
Office equipment	-	25%	On reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 15 (2024 - 18).

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

	Long-term leasehold property	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2025	235,000	18,440	33,708	73,487	360,635
At 31 December 2025	235,000	18,440	33,708	73,487	360,635
Depreciation
At 1 January 2025	109,275	18,270	32,588	66,553	226,686
Charge for the year on owned assets	4,700	42	884	2,377	8,003
At 31 December 2025	113,975	18,312	33,472	68,930	234,689
Net book value
At 31 December 2025	121,025	128	236	4,557	125,946
At 31 December 2024	125,725	170	1,120	6,933	133,948

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	244,519	239,601
Other debtors	4,976	10,812
Prepayments and accrued income	68,336	145,590
	317,831	396,003

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	30,292	262,566
Other taxation and social security	25,443	24,183
Other creditors	49,614	38,375
Accruals and deferred income	284,423	43,511
	389,772	368,635

7.	Deferred taxation

		2025
		£

	Charged to profit or loss	(935)
	At end of year	(935)

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(935)	-
		(935)	-

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EURO PETROLEUM CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,960 (2024 - £10,859).

Contributions totalling £NIL (2024 - £NIL) were payable to the fund at the balance sheet date and are included in creditors

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