SPEED OIL COMPANY LIMITED(THE)

• ⚠

  Material uncertainty over going concern

  The financial statements have not been prepared on going concern basis. As stated in note 1, the Company's branch in Lebanon was liquidated during 2024 and the Company currently has no continuing operations. The directors have assessed the Company's financial position and future prospects and concluded that there are no realistic plans to recommence trading. Accordingly, the directors consider that it is not appropriate to prepare the financial statements on going concern basis.

1. SPEED OIL COMPANY LIMITED(THE) 1976-12-31 → present
2. BP LEBANON LIMITED 1964-01-06 → 1976-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Lubbock Fine LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial statements have not been prepared on going concern basis. As stated in note 1, the Company's branch in Lebanon was liquidated during 2024 and the Company currently has no continuing operations. The directors have assessed the Company's financial position and future prospects and concluded that there are no realistic plans to recommence trading. Accordingly, the directors consider that it is not appropriate to prepare the financial statements on going concern basis.”

Group structure

1. SPEED OIL COMPANY LIMITED(THE) · parent
   1. The Coral Oil Company Limited · buy, store and sell in petroleum and chemical products

Significant events

• “Since the last quarter of 2019, Lebanon has been witnessing severe events that have set off an interconnected fiscal, monetary and economic crisis as well as deep recession that have reached unprecedent levels.”
• “From end of September 2024, Lebanon was subjected to armed attacks, which have escalated, resulting in a significant number of displaced and massive destruction to local establishments and infrastructure. The armed conflict, and its spillovers, have added strain to Lebanon's crisis-ridden economy and have had negative knock-on effects on the ability to conduct business in the country.”
• “A temporary ceasefire for 60 days was announced on 26 November 2024.”
• “The Company's branch in Lebanon has been liquidated during 2024. There is no continuing trade or operations in Lebanon.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  +1.5%

  £99,333 → £100,815

• Employees

  —

  Not reported

• Profit before tax

  +299.9%

  -£1,483 → £2,965

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers