Oceana Energy UK Limited - Accounts to registrar (filleted) - small 18.2
Oceana Energy UK Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2017 |
for |
Oceana Energy UK Limited |
Oceana Energy UK Limited (Registered number: SC490600) |
Contents of the Financial Statements |
for the Year Ended 30 November 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Oceana Energy UK Limited |
Company Information |
for the Year Ended 30 November 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Oceana Energy UK Limited (Registered number: SC490600) |
Balance Sheet |
30 November 2017 |
30.11.17 | 30.11.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on |
Oceana Energy UK Limited (Registered number: SC490600) |
Notes to the Financial Statements |
for the Year Ended 30 November 2017 |
1. | STATUTORY INFORMATION |
Oceana Energy UK Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
The accounts have been prepared on a going concern basis, the acceptability of which is dependant on the |
continuing support of the parent company. |
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. |
Basic financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured |
at their settlement value. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle that obligation and a reliable estimate can be |
made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Other debtors |
Oceana Energy UK Limited (Registered number: SC490600) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2017 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Other creditors |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.17 | 30.11.16 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2016 | ( |
) |
Deficit for the year | ( |
) |
At 30 November 2017 | ( |
) |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The company owed W Nitze nil as at 30.11.2017 (2016: £3,250) |
8. | RELATED PARTY DISCLOSURES |
Transactions with related parties during the year and balances outstanding at the year end were as follows: |
Related Party |
Type of transaction |
Amount |
Amount |
Balance receivable from / (payable) to related party as at |
Balance receivable from / (payable) to related party as at |
30.11.17 | 30.11.16 | 30.11.17 | 30.11.16 |
£ | £ | £ | £ |
Oceana Energy Company |
Loan |
5,407 |
3,790 |
(26,450) |
(21,043) |
Oceana Energy Company is the parent company of Oceana Energy UK Limited. Oceana Energy Company owns |
100% of Oceana Energy UK Limited. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Oceana Energy Company, incorporated in the USA. |
The registered office can be found at: |
816 Connecticut Avenue, NW |
Suite 200 |
Washington, DC 20006 |
Oceana Energy UK Limited (Registered number: SC490600) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2017 |
10. | TRANSITIONAL RELIEF |
These are the first financial statements that comply with FRS 102 (Section 1A). The company transitioned to |
FRS 102 (Section 1A) on 1st January 2015. |
No transitional adjustments were required in equity or profit or loss for the year. |