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Company No: 07331490 (England and Wales)

PARTINGTON SERVICE STATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

PARTINGTON SERVICE STATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

PARTINGTON SERVICE STATION LIMITED

BALANCE SHEET

As at 31 July 2023
PARTINGTON SERVICE STATION LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 750,000 750,000
750,000 750,000
Current assets
Cash at bank and in hand 4,465 4,268
4,465 4,268
Creditors: amounts falling due within one year 5 ( 110,334) ( 97,461)
Net current liabilities (105,869) (93,193)
Total assets less current liabilities 644,131 656,807
Creditors: amounts falling due after more than one year 6 ( 283,712) ( 304,136)
Provision for liabilities ( 52,313) ( 52,313)
Net assets 308,106 300,358
Capital and reserves
Called-up share capital 7 1 1
Share premium account 33,686 33,686
Profit and loss account 274,419 266,671
Total shareholder's funds 308,106 300,358

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Partington Service Station Limited (registered number: 07331490) were approved and authorised for issue by the Board of Directors on 05 April 2024. They were signed on its behalf by:

Mrs S Patel
Director
PARTINGTON SERVICE STATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
PARTINGTON SERVICE STATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Partington Service Station Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1, 2 & 8 Sunnyside Business Park, Off Adelaide Street, Bolton, BL3 3NY, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover represents income derived from properties occupied by tenants during the year. Income that is invoiced in advance or arrears is apportioned so that only that relating to the period of the financial statements is included in turnover.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit or loss.

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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Investment property Total
£ £
Cost
At 01 August 2022 750,000 750,000
At 31 July 2023 750,000 750,000
Accumulated depreciation
At 01 August 2022 0 0
At 31 July 2023 0 0
Net book value
At 31 July 2023 750,000 750,000
At 31 July 2022 750,000 750,000

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 21,280 20,423
Trade creditors 50,509 43,009
Taxation and social security 17,821 11,000
Other creditors 20,724 23,029
110,334 97,461

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 283,712 304,136

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1