Oilfast Limited in Motherwell, ML1 3TF

Description

Data updated on: 01-11-2023

The official moment the company was started is 2013/06/27. Established under no. SC453328, the firm is considered a Private Limited Company. You may find the headquarters of the firm during its opening times under the following location: Fuel Depot Nethan Street, ML1 3TF Motherwell. Although recently referred to as Oilfast Limited, it was not always so. The company was known under the name Oilfast until 2021/12/03, then it was changed to Oilfast Holdings. The definitive switch came on 2022/01/13. The firm's Standard Industrial Classification Code is 45200 - Maintenance and repair of motor vehicles. The firm's latest filed accounts documents cover the period up to 2022-06-30 and the latest annual confirmation statement was released on 2023-08-01.

Oilfast Ltd is a small-sized vehicle operator with the licence number OG2004175. The firm has one transport operating centre in the country. In their subsidiary in Usk on Unit 5 Grange Mill Industrial Estate, 4 machines are available.

On June 16, 2014, the company was recruiting a Tanker Driver to fill a full time vacancy in Crieff, Scotland. Candidates for the post were asked to or call the firm on its phone number: 07876 871779.

As stated, this specific company was formed in June 2013 and has so far been run by twelve directors, and out this collection of individuals eight (Ronald M., Jonathan S., Charles L. and 5 other directors who might be found below) are still listed as current directors.

Previous company's names
Oilfast Limited 2022-01-13
Oilfast Holdings Limited 2021-12-03
Oilfast Limited 2013-06-27

Financial data based on annual reports

Profit & Loss
Date of Accounts	2014-06-30	2017-06-30	2018-06-30	2019-06-30	2020-06-30	2021-06-30	2022-06-30	2023-06-30
Currency
Net Worth	178 587

Balance Sheet
Cash Bank On Hand		201 583	577 687	800 697	145 133	860 144	1 500 989	1 003 610
Current Assets	3 419 240	5 624 013	8 101 555	7 945 752	6 784 231	13 595 552	30 196 234	22 659 945
Debtors	3 154 799	4 921 007	6 747 329	6 180 861	5 593 419	11 176 762	26 362 602	19 888 473
Net Assets Liabilities		37 259	216 490	786 748	2 048 122	2 402 891	4 549 664	3 353 071
Other Debtors		280 633	356 331	426 426	200 527	362 059	575 646	570 073
Property Plant Equipment		2 599 133	4 649 632	5 192 951	5 385 377	6 056 658	6 589 936	7 007 691
Total Inventories		501 423	776 539	964 194	1 045 679	1 558 745	2 332 643	1 767 862
Cash Bank In Hand	1 130
Net Assets Liabilities Including Pension Asset Liability	178 587
Stocks Inventory	263 311
Tangible Fixed Assets	1 072 923

Capital & Reserves
Called Up Share Capital	800 000
Profit Loss Account Reserve	-621 413
Shareholder Funds	178 587

Other Financial Data
Audit Fees Expenses		8 000	15 194	11 150	11 000	11 085
Accrued Income						15 439	3 353 578
Accumulated Amortisation Impairment Intangible Assets				9 796	39 590	70 823	102 056	133 288
Accumulated Depreciation Impairment Property Plant Equipment		998 500	1 408 944	2 005 505	2 740 626	3 502 934	4 046 458	5 131 785
Additional Provisions Increase From New Provisions Recognised						96 555
Additions Other Than Through Business Combinations Intangible Assets				98 971	54 762
Additions Other Than Through Business Combinations Property Plant Equipment			1 850 502	1 319 726	1 051 142	1 542 848	1 960 015
Administrative Expenses		4 688 869	6 199 514	7 269 836	8 882 593	11 063 606	14 796 712
Amortisation Expense Intangible Assets				9 795	29 795	31 233	31 232
Amounts Owed By Related Parties						45 289
Amounts Owed To Related Parties		40 000	40 000
Applicable Tax Rate		20	19	19	19	19	19
Average Number Employees During Period				111	141	166	208	239
Balances With Banks		199 753	575 657	798 667	142 673	857 284	1 498 076
Bank Borrowings		643 671	190 664	19 421
Bank Borrowings Overdrafts		-2 574 337	-4 000 807	-3 259 620	-1 764 068	-875 186	-497 821	22 560
Bank Overdrafts		2 574 337	4 000 807	3 259 620	1 764 068	875 186	497 821	22 560
Cash Cash Equivalents		201 583	577 687	800 697	145 133	860 144	1 500 989
Cash Cash Equivalents Cash Flow Value		-1 660 655	-2 372 754	-3 423 120	-2 458 923	-15 042
Cash Flows From Disposal Or Reduction In Control Over Subsidiaries Or Other Businesses							4 500
Cash Flows Used In Acquiring Or Obtaining Control Subsidiaries Or Other Businesses Classified As Investing Activities						-59 782	-100
Cash On Hand		1 830	2 030	2 030	2 460	2 860	2 913
Comprehensive Income Expense		30 356	179 231	570 258	1 261 374	992 112	2 579 539	1 343 781
Comprehensive Income Expense Attributable To Owners Parent						1 037 377	2 751 808
Cost Sales		49 789 575	64 011 437	80 520 408	79 342 840	129 197 461	256 386 188
Creditors		1 111 833	1 152 508	808 586	1 005 439	719 055	1 255 735	749 397
Current Tax For Period						10 618	130 512
Deferred Tax Asset Debtors		291 164	252 136	18 139
Deferred Tax Expense Credit From Unrecognised Timing Difference From Prior Period						96 555	429 064
Deferred Tax Expense Credit Relating To Changes In Tax Rates Or Laws		33 486	39 028	233 997	249 102	96 555	429 062
Depreciation Amortisation Expense		417 696	617 798	706 541	843 390	857 659	1 055 972
Depreciation Expense Property Plant Equipment		417 696	617 798	696 746	813 595	826 426	1 034 379
Disposals Decrease In Depreciation Impairment Property Plant Equipment			-191 146	-99 682	-78 978	-64 119	-481 254	77 717
Disposals Property Plant Equipment			-401 161	-177 047	-124 078	-109 259	-883 303	138 583
Finance Lease Liabilities Present Value Total		468 162	961 844	789 165	1 005 439	719 055	1 255 735	749 397
Fixed Assets		3 614 415	4 649 632	5 282 126	5 499 520	6 199 450	6 701 495	7 088 018
Further Item Cash Flow From Used In Financing Activities Component Net Cash Flows From Used In Financing Activities		329 380	81 173				8 186
Further Revenue Item Component Total Revenue		14
Gain Loss From Revaluation Property Plant Equipment Recognised In Profit Or Loss						-1 138	-111 414
Gain Loss In Cash Flows From Change In Creditors Trade Other Payables		-1 127 267	-1 813 358	-1 131 710	1 155 781	-8 345 727	-11 926 137
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables		1 371 918	1 865 350	-207 199	-569 303	5 583 244	13 754 397
Gain Loss In Cash Flows From Change In Inventories		110 083	275 116	187 655	81 485	513 066	128 316
Gain Loss On Disposal Investments In Subsidiaries Associates Joint Ventures							4 500
Gain Loss On Disposals Property Plant Equipment					-8 392	-1 138	-111 414
Gain Loss On Financial Liabilities Fair Value Through Profit Or Loss			-77 403	-19 914
Government Grant Income					166 821	180 774
Gross Profit Loss		4 858 589	6 640 420	8 252 490	10 369 584	12 064 591	18 206 335
Income Taxes Paid Refund Classified As Operating Activities						10 618	84 081
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation		-712 099	-1 050 366	964 197	839 988	1 603 893	1 018 208
Increase Decrease In Existing Provisions					230 963
Increase From Amortisation Charge For Year Intangible Assets				9 796	29 794	31 233	31 233	31 232
Increase From Depreciation Charge For Year Property Plant Equipment			604 794	696 746	814 099	826 427	1 026 239	1 163 044
Intangible Assets				89 175	114 143	82 910	51 677	20 445
Intangible Assets Gross Cost				98 971	153 733	153 733	153 733
Interest Expense On Bank Overdrafts Bank Loans Similar Borrowings		81 677	109 057	111 167	94 101	34 020	26 987
Interest Expense On Obligations Under Finance Leases Hire Purchase Contracts		30 471	41 957	52 968	55 885	66 492	90 470
Interest Income On Bank Deposits						59
Interest Paid Classified As Financing Activities		-112 148	-151 014			-100 512	-116 002
Interest Paid Classified As Operating Activities		112 148	151 014	164 135	149 986	100 512	116 002
Interest Payable Similar Charges Finance Costs		112 148	151 014	164 135	149 986	100 512	117 457
Interest Received Classified As Investing Activities						59
Interest Received Classified As Operating Activities						59
Investment Property		1 015 282
Investments Fixed Assets						59 882	59 882	59 882
Investments In Subsidiaries						59 882	59 882
Net Cash Flows From Used In Financing Activities		217 232	-69 841			-1 134 773	368 082
Net Cash Flows From Used In Investing Activities		-1 168 283	-1 640 487	-1 341 332	-1 069 196	-1 558 669	-1 664 980
Net Cash Flows From Used In Operating Activities		238 952	590 121	2 305 529	1 909 184	3 162 562	2 315 106
Net Cash Generated From Operations						4 297 235	2 399 187
Net Cash Inflow Outflow From Operations Before Movements In Working Capital		593 686	987 071	1 549 659	2 727 133	2 047 917	4 355 763
Net Current Assets Liabilities	-426 655	-2 465 323	-3 280 634	-3 686 792	-2 214 996	-2 749 986	-155 324	-2 012 062
Number Shares Issued Fully Paid		1 368 422	1 368 422	1 368 422	1 368 422	988 685	862 106
Operating Profit Loss		175 990	446 676	988 304	1 660 462	1 189 120	3 428 839
Other Creditors		48 893	215 625	370 222	333 690	870 216	5 575 443	4 279 937
Other Employee Expense		9 404	26 570	22 562	14 902	16 068	41 826
Other Interest Receivable Similar Income Finance Income						59
Other Inventories		501 423	776 539	964 194	1 045 679	1 558 745	1 687 061
Other Operating Income Format1		6 270	5 770	5 650	173 471	188 135	19 216
Other Remaining Borrowings		360 000	60 000				3 785
Other Remaining Operating Income		6 270	5 770	5 650	6 650	7 361	19 216
Other Revenue						55 000	15 350
Par Value Share	1		0	0	0	0	0
Payments Finance Lease Liabilities Classified As Financing Activities						-396 919	696 583
Payments To Redeem Own Shares						-261 402	-87 186
Pension Costs Defined Contribution Plan		21 878	61 166	86 508	107 991	138 314	157 354
Percentage Class Share Held In Subsidiary					100	100	100	100
Prepayments		425 846	533 492	559 834	788 947	1 110 069	1 668 298	1 646 736
Proceeds From Issuing Shares						1
Proceeds From Sales Property Plant Equipment			210 015	77 365	36 708	44 002	290 635
Profit Loss		30 356	179 231	570 258	1 261 374	992 112	2 343 135	1 343 781
Profit Loss Attributable To Owners Parent						1 037 377	2 751 808
Profit Loss On Ordinary Activities Before Tax		63 842	218 259	804 255	1 510 476	1 088 667	3 311 382
Property Plant Equipment Gross Cost		4 612 439	6 056 280	7 198 959	8 126 003	9 559 592	10 636 394	12 139 476
Provisions					230 963	327 518	740 772	973 488
Provisions For Liabilities Balance Sheet Subtotal					230 963	327 518	740 772	973 488
Purchase Intangible Assets				-98 971	-54 762
Purchase Property Plant Equipment		-1 168 283	-1 850 502	-1 319 726	-1 051 142	-1 542 848	-1 960 015
Revenue From Sale Goods		54 648 150	70 651 857	88 772 898	89 712 424	141 207 052	274 577 173
Social Security Costs		212 963	252 864	302 019	393 324	542 354	774 780
Staff Costs Employee Benefits Expense		2 378 632	2 891 405	3 589 761	4 678 772	6 026 068	8 097 146
Taxation Social Security Payable		60 591	79 947	90 622	117 312	195 668	379 899
Tax Decrease From Utilisation Tax Losses					-189 199	-68 936	-240 657
Tax Decrease Increase From Effect Revenue Exempt From Taxation		-4
Tax Expense Credit Applicable Tax Rate		12 609	41 469	152 808	286 990	278 263	629 163
Tax Increase Decrease From Effect Capital Allowances Depreciation		-11 605	-5 946	-59 454	-97 791	-209 327	-258 038
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss							42
Tax Increase Decrease From Effect Unrelieved Tax Losses Carried Forward		-1 000	-35 523	-93 354	-169 071
Tax Tax Credit On Profit Or Loss On Ordinary Activities		33 486	39 028	233 997	249 102	96 555	497 334
Total Assets Less Current Liabilities	646 268	1 149 092	1 368 998	1 595 334	3 284 524	3 449 464	6 546 171	5 075 956
Total Borrowings		1 111 833	1 152 508	808 586	1 005 439	719 055	2 355 645	1 885 819
Total Operating Lease Payments			263 756	280 196	316 041	377 152	385 734
Trade Creditors Trade Payables		4 743 667	6 370 937	7 377 375	6 231 436	13 962 282	23 845 807	19 281 374
Trade Debtors Trade Receivables		3 923 364	5 605 370	5 176 462	4 603 945	9 659 245	12 031 952	10 632 174
Transfers From To Share Premium Increase Decrease In Equity						-375 940
Turnover Revenue		54 648 164	70 651 857	88 772 898	89 712 424	141 262 052	274 592 523
Wages Salaries		2 134 387	2 550 805	3 178 672	4 162 555	5 329 332	7 123 186
Company Contributions To Money Purchase Plans Directors		7 711	11 310	10 057	11 622	13 017	10 421
Director Remuneration		117 725	204 404	236 607	281 709	392 883	360 939
Additional Provisions Increase From New Provisions Recognised In Profit Or Loss								232 716
Amounts Owed By Group Undertakings							12 090 493	5 701 836
Corporation Tax Payable							32 401	308 137
Creditors Due After One Year	467 681
Creditors Due Within One Year	3 845 895
Dividends Paid								2 572 000
Finance Lease Payments Owing Minimum Gross							652 689	512 551
Future Finance Charges On Finance Leases							50 600	36 631
Future Minimum Lease Payments Under Non-cancellable Operating Leases							360 985	452 072
Investments In Group Undertakings							59 882	59 882
Issue Equity Instruments								31 626
Merchandise							2 332 643	1 767 862
Net Assets Liabilities Subsidiaries							-100	-100
Number Shares Allotted	800 000
Other Taxation Social Security Payable							295 818	304 079
Profit Loss Subsidiaries							-45 062	893 537
Recoverable Value-added Tax							571 859	1 337 654
Secured Debts	559 600
Share Capital Allotted Called Up Paid	800 000
Tangible Fixed Assets Additions	1 148 685
Tangible Fixed Assets Cost Or Valuation	1 148 685
Tangible Fixed Assets Depreciation	75 762
Tangible Fixed Assets Depreciation Charged In Period	75 762
Total Additions Including From Business Combinations Property Plant Equipment								1 641 665