IRIS Accounts Production v23.3.1.45 09298746 director 1.12.22 30.11.23 30.11.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092987462022-11-30092987462023-11-30092987462022-12-012023-11-30092987462021-11-30092987462021-12-012022-11-30092987462022-11-3009298746ns10:Originalns15:EnglandWales2022-12-012023-11-3009298746ns14:PoundSterlingns10:Original2022-12-012023-11-3009298746ns10:Originalns10:Director12022-12-012023-11-3009298746ns10:Original2022-12-012023-11-3009298746ns10:Original2023-11-3009298746ns10:Originalns10:PrivateLimitedCompanyLtd2022-12-012023-11-3009298746ns10:Originalns10:SmallEntities2022-12-012023-11-3009298746ns10:Originalns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3009298746ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3009298746ns10:SmallCompaniesRegimeForAccountsns10:Original2022-12-012023-11-3009298746ns10:Originalns10:FullAccounts2022-12-012023-11-3009298746ns10:Originalns10:OrdinaryShareClass12022-12-012023-11-3009298746ns10:Originalns10:RegisteredOffice2022-12-012023-11-3009298746ns10:Original2022-11-3009298746ns10:Originalns5:CurrentFinancialInstruments2023-11-3009298746ns10:Originalns5:CurrentFinancialInstruments2022-11-3009298746ns10:Originalns5:Non-currentFinancialInstruments2023-11-3009298746ns10:Originalns5:Non-currentFinancialInstruments2022-11-3009298746ns5:ShareCapitalns10:Original2023-11-3009298746ns5:ShareCapitalns10:Original2022-11-3009298746ns10:Originalns5:CapitalRedemptionReserve2023-11-3009298746ns10:Originalns5:CapitalRedemptionReserve2022-11-3009298746ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-11-3009298746ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-11-3009298746ns10:Originalns5:PlantMachinery2022-12-012023-11-3009298746ns10:Originalns5:FurnitureFittings2022-12-012023-11-3009298746ns10:Originalns5:MotorVehicles2022-12-012023-11-3009298746ns10:Originalns5:ComputerEquipment2022-12-012023-11-3009298746ns10:Original2021-12-012022-11-3009298746ns10:Originalns5:PlantMachinery2022-11-3009298746ns10:Originalns5:FurnitureFittings2022-11-3009298746ns10:Originalns5:MotorVehicles2022-11-3009298746ns10:Originalns5:ComputerEquipment2022-11-3009298746ns10:Original2022-11-3009298746ns10:Originalns5:PlantMachinery2023-11-3009298746ns10:Originalns5:FurnitureFittings2023-11-3009298746ns10:Originalns5:MotorVehicles2023-11-3009298746ns10:Originalns5:ComputerEquipment2023-11-3009298746ns10:Originalns5:PlantMachinery2022-11-3009298746ns10:Originalns5:FurnitureFittings2022-11-3009298746ns10:Originalns5:MotorVehicles2022-11-3009298746ns10:Originalns5:ComputerEquipment2022-11-3009298746ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-11-3009298746ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-012023-11-3009298746ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-3009298746ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-11-3009298746ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3009298746ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3009298746ns10:Originalns5:CurrentFinancialInstruments2022-12-012023-11-3009298746ns10:Originalns5:DeferredTaxation2022-11-3009298746ns10:Originalns5:DeferredTaxation2022-12-012023-11-3009298746ns10:Originalns5:DeferredTaxation2023-11-3009298746ns10:Originalns10:OrdinaryShareClass12023-11-30
REGISTERED NUMBER: 09298746 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 30 November 2023

for

Liquid Fuels Ltd

Liquid Fuels Ltd (Registered number: 09298746)

Contents of the Financial Statements
For The Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Liquid Fuels Ltd

Company Information
For The Year Ended 30 November 2023







DIRECTOR: Mr G I Greener





REGISTERED OFFICE: 29 Sheepwalk Close
Potton
Sandy
Bedfordshire
SG19 2XX





REGISTERED NUMBER: 09298746 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Liquid Fuels Ltd (Registered number: 09298746)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 345,339 178,199

CURRENT ASSETS
Stocks 5 750 750
Debtors 6 247,630 149,536
Cash at bank 311,928 241,550
560,308 391,836
CREDITORS
Amounts falling due within one year 7 320,994 249,956
NET CURRENT ASSETS 239,314 141,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,653

320,079

CREDITORS
Amounts falling due after more than one
year

8

(226,400

)

(137,976

)

PROVISIONS FOR LIABILITIES 9 (84,198 ) (32,761 )
NET ASSETS 274,055 149,342

CAPITAL AND RESERVES
Called up share capital 10 1 1
Capital redemption reserve 1 1
Retained earnings 274,053 149,340
SHAREHOLDERS' FUNDS 274,055 149,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Liquid Fuels Ltd (Registered number: 09298746)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 February 2024 and were signed by:





Mr G I Greener - Director


Liquid Fuels Ltd (Registered number: 09298746)

Notes to the Financial Statements
For The Year Ended 30 November 2023


1. STATUTORY INFORMATION

Liquid Fuels Ltd is a private company, limited by shares , registered in England and Wales. The company's 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on ·an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Liquid Fuels Ltd (Registered number: 09298746)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

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 instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, 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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal 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 trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Liquid Fuels Ltd (Registered number: 09298746)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as ·current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss In finance costs or finance income as appropriate unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or toss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

Liquid Fuels Ltd (Registered number: 09298746)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 12,627 940 341,600 2,179 357,346
Additions - 561 283,350 - 283,911
Disposals - - (11,450 ) - (11,450 )
At 30 November 2023 12,627 1,501 613,500 2,179 629,807
DEPRECIATION
At 1 December 2022 9,229 691 167,703 1,524 179,147
Charge for year 850 202 113,900 164 115,116
Eliminated on disposal - - (9,795 ) - (9,795 )
At 30 November 2023 10,079 893 271,808 1,688 284,468
NET BOOK VALUE
At 30 November 2023 2,548 608 341,692 491 345,339
At 30 November 2022 3,398 249 173,897 655 178,199

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 284,500
Additions 250,500
Transfer to ownership (64,000 )
At 30 November 2023 471,000
DEPRECIATION
At 1 December 2022 133,494
Charge for year 96,580
Transfer to ownership (48,813 )
At 30 November 2023 181,261
NET BOOK VALUE
At 30 November 2023 289,739
At 30 November 2022 151,006

5. STOCKS
2023 2022
£    £   
Stocks 750 750

Liquid Fuels Ltd (Registered number: 09298746)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 244,803 144,490
Other debtors 2,827 5,046
247,630 149,536

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 106,966 61,876
Trade creditors 92,526 98,917
Taxation and social security 89,400 51,634
Other creditors 32,102 37,529
320,994 249,956

Included within bank loans and overdrafts is a loan taken out under the BBL scheme.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 226,400 137,976

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 84,198 32,761

Deferred
tax
£   
Balance at 1 December 2022 32,761
Provided during year 51,437
Balance at 30 November 2023 84,198

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1