Company Registration No. SC071090 (Scotland)
NOBLE ENERGY (ISE) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
NOBLE ENERGY (ISE) LIMITED
COMPANY INFORMATION
Directors
M J J Williams
(Appointed 14 October 2020)
A R J Clitheroe
(Appointed 28 April 2021)
Secretary
B Zaza
Company number
SC071090
Registered office
1 Marischal Square
Broad Street
Aberdeen
AB10 1BL
Auditors
Gerald Edelman
73 Cornhill
London
EC3V 3QQ
NOBLE ENERGY (ISE) LIMITED
CONTENTS
Page
Directors' report
1 - 2
Independent auditors' report
3 - 6
Statement of comprehensive income
7
Statement of financial position
8
Statement of changes in equity
9
Notes to the financial statements
10 - 14
NOBLE ENERGY (ISE) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2020.
Principal activities
The principal activity of the company
was of
exploration for and production of oil and gas.
The company has not traded during the year and it is the directors' intentions to wind the company up in due course.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M J J Williams
(Appointed 14 October 2020)
A E Jolley
(Resigned 30 April 2021)
D A Hatley
(Resigned 5 October 2020)
A R J Clitheroe
(Appointed 28 April 2021)
Results and dividends
The results for the year are set out on page 6.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Auditors
The auditors, Gerald Edelman, are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditors
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor
s are
unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
s are
aware of that information.
NOBLE ENERGY (ISE) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
Going concern
At the balance sheet date, the company had net current liabilities of £
7
10k (201
9
: £6
5
6k).
In 2017 t
he directors transferred the company's rights to royalty income to a fellow group company and
accordingly, they
intend to wind-up the company and apply for it to be stricken off the register.
Notwithstanding the foregoing, the directors feel that the adoption of the going concern basis is appropriate, given that it is not materially different to the break-up basis. In considering the appropriateness of the going concern basis, the directors have also assumed that continued financial support will be made available from company's ultimate and intermediate parent undertakings, Chevron Corporation and Noble Energy International Holdings, Inc.
.
Further details regarding the adoption of the going concern basis can be found in note 1.2 to the financial statements.
On behalf of the board
A R J Clitheroe
Director
23 September 2021
NOBLE ENERGY (ISE) LIMITED
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS OF NOBLE ENERGY (ISE) LIMITED
- 3 -
Opinion
We have audited the financial statements of Noble Energy (ISE) Limited (the 'company') for the year ended 31 December 2020 which comprise
the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements,
including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 December 2020 and of its loss for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditors'
responsibilities for the audit of the financial statements
section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
In forming our opinion on the finan
ci
al statements, which is not modified, we have considered the adequacy of
the discl
o
sure
s
made in the directors' report and note 1.2 to the financial
statements concerning the
company's ability to continue as a going concern.
In view of the fact that the preparation of the financial statements on the going concern basis is based on the
assumption that finan
ci
al supp
o
rt will be provided to the
company and that the opinion of the directors that the
view presented by using the going concern basis is not materially different to that of the break
-
up basis, we
consider that the existence of a material uncertainty around going concern should be brought to your attention, bu
t
our opinion is not qualified in this respect.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue
.
NOBLE ENERGY (ISE) LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF NOBLE ENERGY (ISE) LIMITED
- 4 -
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors
'
report thereon. Our opinion on the
financial statements
does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the directors' r
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the directors'
r
eport
.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the company is not entitled to claim exemption in preparing a strategic report.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
NOBLE ENERGY (ISE) LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF NOBLE ENERGY (ISE) LIMITED
- 5 -
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors
'
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below
.
We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
-
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
-
Enquiring of management of whether they are aware of any non-compliance with laws and regulations.
-
Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.
-
Enquiring of management their internal controls established to mitigate risk related to fraud or non-compliance with laws and regulations.
-
Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we evaluated management’s incentive and opportunities for fraudulent manipulation of the financial statements, including risk of override of controls and determined that the principal risk was related to the posting of inappropriate journal entries.
-
Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included the UK Companies Act, applicable tax legislation, employment law and, health and safety laws.
To address the risk of fraud through management bias and override of controls, we:
-
Performed analytical procedures to identify any unusual or unexpected relationships and transactions.
-
Audited the risk of management override of controls, including through testing journal entries for appropriateness.
In response to the risk of irregularities and non
-
compliance with laws and regulations, we designed procedures which included, but are not limited to:
-
Agreeing financial statement disclosures to underlying supporting documentation.
-
Enquiring of management as to actual and potential litigation claims.
-
Confirming with management that there had been no non-compliance with any of the legislation discussed above.
-
Reviewing relevant profit and loss account items for evidence of litigation.
NOBLE ENERGY (ISE) LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF NOBLE ENERGY (ISE) LIMITED
- 6 -
The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance. Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Carl Lundberg ACA (Senior Statutory Auditor)
for and on behalf of Gerald Edelman
23 September 2021
Chartered Accountants
Statutory Auditor
73 Cornhill
London
EC3V 3QQ
NOBLE ENERGY (ISE) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2020
- 7 -
2020
2019
Notes
£
£'000
Administrative expenses
(54)
11
(Loss)/profit before taxation
(54)
11
Tax on (loss)/profit
4
(Loss)/profit for the financial year
(54)
11
NOBLE ENERGY (ISE) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2020
31 December 2020
- 8 -
2020
2019
Notes
£
£
£'000
£'000
Creditors: amounts falling due within one year
7
(710)
(656)
Net current liabilities
(710)
(656)
Total assets less current liabilities
(710)
(656)
Capital and reserves
Called up share capital
6
63
63
Profit and loss account
(773)
(719)
Total equity
(710)
(656)
The financial statements were approved by the Board of directors and authorised for issue on 23 September 2021
Signed on its behalf by:
A R J Clitheroe
Director
Company Registration No. SC071090
NOBLE ENERGY (ISE) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2020
- 9 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 January 2019
63
(730)
(667)
Year ended 31 December 2019:
Profit and total comprehensive income for the year
-
11
11
Balance at 31 December 2019
63
(719)
(656)
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
(54)
(54)
Balance at 31 December 2020
63
(773)
(710)
NOBLE ENERGY (ISE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 10 -
1
Accounting policies
Company information
Noble Energy (ISE) Limited is a limited company domiciled and incorporated in England
and Wales
.
The registered office is
1 Marischal Square, Broad Street, Aberdeen, AB10 1BL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. The nature of the company's operations and its principal activities are set out in the Directors' report.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
All the amounts in the financial statements have been rounded to the nearest thousand pounds sterling, unless otherwise stated. Where the result of expressing amounts to the nearest thousand pounds sterling would result in an amount of zero, the financial statements will contain a note expressing the amount to the nearest whole pound sterling.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Noble Energy
(ISE)
Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its financial statements. Exemptions have been taken in relation to financial instruments
and
intra-group transactions
.
1.2
Going concern
At the balance sheet date, the company had net current liabilities of £
7
10k (201
9
: £
65
6k) and it was the intention of the directors to wind-up the company and apply for it to be stricken off the register
.
Notwithstanding the foregoing, the financial statements have been prepared on the going concern basis, which the directors believe to be appropriate for the following reasons. The directors have assessed the valuation of the company's assets and liabilities and consider the going concern basis to not be materially different from the break-up basis. Furthermore, the company is reliant for its working capital on funds provided to it by group undertakings Noble Energy International Holdings, Inc. and
Chevron
Corporation, which have provided the company with an undertaking that they will, for at least 12 months from the date of the approval of these financial statements, continue to make available such funds as needed by the company and in particular will not seek repayment of the amounts currently made available. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statement, they have no reason to believe that it will not do so.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
NOBLE ENERGY (ISE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 11 -
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial
assets
are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial asset and is determined at the time of recognition.
Basic financial assets are initially measured at fair value plus transaction costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, Other financial assets classified as fair value through profit or loss are measured at fair value.
Basic financial assets
Basic financial assets, which include
other trade receivables
are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
The impairment loss is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when
the company
transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
other payables
and
loans from
fellow group companies are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future receipts discounted at a market rate of interest.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
NOBLE ENERGY (ISE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 12 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
Transactions denominated in foreign currencies are recorded at the average exchange rates for the respective month. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. Any gain or loss arising from changes in exchange rates subsequent to the date of the transaction is included as an exchange gain or loss in the profit and loss account.
2
Operating (loss)/profit
2020
2019
Operating (loss)/profit for the year is stated after (crediting):
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
(18)
(15)
NOBLE ENERGY (ISE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 13 -
3
Auditors' remuneration
2020
2019
Fees payable to the company's auditors and associates:
£
£
For audit services
Audit of the financial statements of the company
4
4
Fees paid to the auditors were borne by the immediate parent company in the current year and prior year.
4
Taxation
The difference between the total tax charge shown above and the amount calculated by applying the UK corporation tax rate of 19% (201
9
: 19%) to the loss before tax is as follows:
2020
2019
£
£
(Loss)/profit before taxation
(54)
11
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 19.00% (2019: 19.00%)
(10)
2
Tax effect of utilisation of tax losses not previously recognised
(2)
(2)
Current year losses for which no deferred tax asset is recognised
12
Taxation charge for the year
-
-
A deferred tax asset has not been recognised on tax losses of £
92
,
0
00 (201
9
: £
21
,
5
00) as there is uncertainty over the availability of future taxable profits against which these can be offset. There is no expiry date on these tax losses.
In the March 2021 Budget the UK Government announced that legislation will be introduced in Finance Bill 2021 to increase the main rate of UK corporation tax from 19% to 25%, effective 1 April 2023. This was substantively enacted on 24 May 2021. As no deferred tax asset is recognised on the UK tax losses of the company due to uncertainty over future profits, this change i
n
corporation tax rate is not expected to impact the future deferred tax asset recognised.
5
Current liabilities
2020
2019
£
£
Amounts owed to group undertakings
705
653
Accruals and deferred income
5
3
710
656
NOBLE ENERGY (ISE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 14 -
6
Share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
62,500 Ordinary shares of £1 each
62,500
62,500
7
Related party transactions
The
group
has taken advantage of the exemption available in FRS
102
"Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
8
Parent company and controlling party
The immediate parent company is Noble Energy Capital Limited, a company incorporated in England and Wales.
The largest and smallest group in which the results of the company are consolidated is that headed
Chevron
Corporation, a company incorporated in the United States of America. The consolidated financial statements of Chevron Corporation can be obtained from 9 Cavendish Square, London, W1G 9DF.
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