OILMASTERS (DEVON DORSET & CORNWALL) LTD


Director	BROWN, Lisa Jane


Registered Address	Unit 12 Heathfield Business Park Battle Road
	Heathfield Industrial Estate
	Newton Abbot
	TQ12 6GJ


Registered Number	05965140 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Current assets
Debtors	5	40,879		40,383
Cash at bank and on hand		1,210		49
		42,089		40,432
Creditors amounts falling due within one year	6	(25,728)		(32,401)
Net current assets (liabilities)			16,361		8,031
Total assets less current liabilities			16,361		8,031
Creditors amounts falling due after one year	7		-		(1,000)
Net assets			16,361		7,031
Capital and reserves
Called up share capital			100		100
Profit and loss account			16,261		6,931
Shareholders' funds			16,361		7,031

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 19 August 2026, and are signed on its behalf by:

BROWN, Lisa Jane
Director
Registered Company No. 05965140

OILMASTERS (DEVON DORSET & CORNWALL) LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	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.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	403,400	403,400
At 31 December 24	403,400	403,400
Amortisation and impairment
At 01 January 24	403,400	403,400
At 31 December 24	403,400	403,400
Net book value
At 31 December 24	-	-
At 31 December 23	-	-

4.	Tangible fixed assets

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	40,879	40,383
Total	40,879	40,383

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	3,125	3,125
Bank borrowings and overdrafts	7,776	13,437
Taxation and social security	6,677	4,489
Other creditors	7,550	11,050
Accrued liabilities and deferred income	600	300
Total	25,728	32,401

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	-	1,000
Total	-	1,000