General Information
Oilstone Consulting Limited is a private company, limited by shares, registered in England and Wales, under 08791009, at Unit 10, Clayfield Mews, Newcomen Road, Tunbridge Wells, Kent, TN4 9PA.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A), the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared on a going concern basis under the historical cost convention, in accordance with the accounting policies. These financial statements are prepared in sterling which is the functional currency of the Company.
Going concern basis
The director believes the Company will maintain sales and profitability at current levels, and that it is well placed to manage its business risks successfully. Accordingly, he reasonably expects the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, he continues adopting the going concern basis of accounting in preparing these financial statements.
Turnover
Turnover comprises the value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable recognised in the Profit and Loss account. The Company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer equipment |
20% Reducing Balance
|
| Office furnishings |
20% Reducing Balance
|
Stocks
Stocks represent work-in-progress valued at the billable sum amount, after making allowance for any losses or known write-downs.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2025 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Office furnishings |
|
Computer equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2025 |
7,755 |
|
3,119 |
|
10,874 |
| Additions |
- |
|
1,755 |
|
1,755 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2026 |
7,755 |
|
4,874 |
|
12,629 |
| Depreciation |
| At 01 April 2025 |
- |
|
1,651 |
|
1,651 |
| Charge for year |
- |
|
2,195 |
|
2,195 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2026 |
- |
|
3,846 |
|
3,846 |
| Net book values |
| Closing balance as at 31 March 2026 |
7,755 |
|
1,028 |
|
8,783 |
| Opening balance as at 01 April 2025 |
7,626 |
|
1,597 |
|
9,223 |
|
| 4. |
Stocks
|
2026
£ |
|
2025
£ |
| Work-in-progress |
1,250 |
|
6,900 |
|
1,250 |
|
6,900 |
|
| 5. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Trade debtors |
1,930 |
|
4,475 |
| Provision for bad debts |
(250) |
|
(250) |
| Prepayments |
- |
|
2,000 |
|
1,680 |
|
6,225 |
|
| 6. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Trade creditors |
1,115 |
|
7,040 |
| Bank loan |
5,144 |
|
5,513 |
| Corporation tax |
5,852 |
|
7,878 |
| Accrued accountancy costs |
1,126 |
|
1,050 |
| Advance payments |
1,055 |
|
2,430 |
| Director account |
- |
|
203 |
|
14,292 |
|
24,114 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Bank loan |
14,856 |
|
20,987 |
|
14,856 |
|
20,987 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
1
Ordinary share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
| 9. |
Indebtedness
Included within creditors are unsecured amounts repayable by instalments, as follows:
Within 12 months £5,144.
Between 2 and 5 years £14,856.
|
2
|