Oil Facilities Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Oil Facilities Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06360712 . The registered office is Unit 34 Vale Business Park, Llandow, Cowbridge, Vale Of Glam, CF71 7PF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

At 31 March 2026 the company had net liabilities of £117,616. The directors have reviewed the company’s trading position, cash flow requirements and available financial support and are satisfied that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements.

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% straight line
Motor Vehicles	20% straight line
Computer Equipment	25% straight line

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Oil Facilities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors, cash at bank, trade and other creditors, bank loans, other loans and obligations under hire purchase and finance lease contracts.

Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction. Where the arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are subsequently measured at amortised cost using the effective interest method.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party. Financial liabilities are derecognised when the obligation specified in the contract is discharged, cancelled or expires.

2.7. Taxation

Corporation tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

...CONTINUED

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Oil Facilities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Taxation - continued

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2025: 16)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	15,412	54,438	21,734	91,584
Additions	4,450	25,788	184	30,422

As at 31 March 2026	19,862	80,226	21,918	122,006

Depreciation
As at 1 April 2025	15,398	11,795	21,429	48,622
Provided during the period	1,212	16,045	234	17,491

As at 31 March 2026	16,610	27,840	21,663	66,113

Net Book Value
As at 31 March 2026	3,252	52,386	255	55,893

As at 1 April 2025	14	42,643	305	42,962

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	246,613	66,495
Amounts recoverable on contracts	85,774	341,614
Other debtors	75,398	75,860

	407,785	483,969

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Oil Facilities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	7,923	7,923
Trade creditors	103,383	134,643
Bank loans and overdrafts	40,000	40,000
Other loans	36,742	107,294
Other creditors	185,022	183,073
Taxation and social security	183,624	127,113

	556,694	600,046

7. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	29,362	37,285
Bank loans	6,567	46,567
Other loans	-	5,039

	35,929	88,891

8. Secured Creditors

The company’s bank borrowings are secured by a fixed and floating charge dated 9 May 2022 over the company’s assets.

Obligations under hire purchase and lease purchase agreements are secured on the specific motor vehicles to which the agreements relate. Under the terms of the lease purchase agreements, title to the vehicles does not pass to the company until all payments due under the agreements have been made.

At 31 March 2026, secured creditors comprised bank borrowings of £46,567 and obligations under hire purchase and lease purchase agreements of £37,285.

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Accelerated capital allowances	10,620	-

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Oil Facilities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
51 Ordinary A shares of £ 1 each	51	51
49 Ordinary B shares of £ 1 each	49	49
51 Ordinary C shares of £ 1 each	51	51
49 Ordinary D shares of £ 1 each	49	49

	200	200

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as follows:

	2026	2025
	£	£
Not later than one year	5,096	11,676
Later than one year and not later than five years	-	5,096

	5,096	16,772

12. Related Party Transactions

Related party transactions

During the year the company entered into transactions with its directors through their respective loan accounts.

At 31 March 2026, the company owed £38,149 (2025: £45,534) to Mr T A Griffin and £53,183 (2025: £84,362) to Mr M A Griffin.

The directors’ loan account balances were in credit throughout the year. The balances are unsecured, interest free and repayable on demand.

Lombard C&D Partnership is owned by Mr M Griffin and Mrs J Griffin, who are members of the partnership. At 31 March 2026, Oil Facilities Limited owed £12,878 (2025: £12,428) to Lombard C&D Partnership.

Rent of £24,000 (2025: £24,000) was paid by Oil Facilities Limited to the pension scheme for a property at Vale Business Park, Llandow, Cowbridge, Vale of Glamorgan, CF71 7PF.

13. Ultimate Controlling Party

In the opinion of the directors, the ultimate controlling parties are Mr M Griffin and Mrs J Griffin, who together own 51% of the company’s issued share capital.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		55,893		42,962

			55,893		42,962
CURRENT ASSETS
Debtors	5	407,785		483,969
Cash at bank and in hand		21,949		29,197

		429,734		513,166
Creditors: Amounts Falling Due Within One Year	6	(556,694 )		(600,046 )

NET CURRENT ASSETS (LIABILITIES)			(126,960 )		(86,880 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(71,067 )		(43,918 )

Creditors: Amounts Falling Due After More Than One Year	7		(35,929 )		(88,891 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(10,620 )		-

NET LIABILITIES			(117,616 )		(132,809 )

CAPITAL AND RESERVES
Called up share capital	10		200		200
Profit and Loss Account			(117,816 )		(133,009 )

SHAREHOLDERS' FUNDS			(117,616)		(132,809)