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REGISTERED NUMBER: 04315263 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Sayers Road Tanker Rentals Limited

Sayers Road Tanker Rentals Limited (Registered number: 04315263)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sayers Road Tanker Rentals Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: C Sayer





REGISTERED OFFICE: Tutin Road
Leeming Bar Industrial Estate
NORTHALLERTON
North Yorkshire
DL7 9UJ





REGISTERED NUMBER: 04315263 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,211,194 5,477,637

CURRENT ASSETS
Debtors 5 898,505 1,242,916
Cash at bank and in hand 7,362 100
905,867 1,243,016
CREDITORS
Amounts falling due within one year 6 1,168,906 1,002,680
NET CURRENT (LIABILITIES)/ASSETS (263,039 ) 240,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,948,155

5,717,973

CREDITORS
Amounts falling due after more than one
year

7

(519,529

)

(938,341

)

PROVISIONS FOR LIABILITIES 10 (1,251,923 ) (1,283,847 )
NET ASSETS 3,176,703 3,495,785

CAPITAL AND RESERVES
Called up share capital 11 580,100 580,100
Retained earnings 2,596,603 2,915,685
SHAREHOLDERS' FUNDS 3,176,703 3,495,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





C Sayer - Director


Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Sayers Road Tanker Rentals Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with companies under common control.

Turnover
Turnover represents amounts receivable for tankers sold, income from short term hire and earnings from assets held on finance lease and hire purchase contracts, net of VAT.

Income recognition
Income is recognised when a contract for the sale of goods is determined as unconditional.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 2% on cost
Plant and machinery - Straight line over 7 years and Straight line over 15 years
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 25% on cost

Tangible fixed assets are held at cost less accumulated depreciation.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 349,732 8,056,736 42,727 243,072 8,692,267
Additions - 292,295 - - 292,295
Disposals - (213,013 ) - - (213,013 )
At 31 October 2023 349,732 8,136,018 42,727 243,072 8,771,549
DEPRECIATION
At 1 November 2022 69,947 2,958,343 42,725 143,615 3,214,630
Charge for year 6,995 463,017 - 54,638 524,650
Eliminated on disposal - (178,925 ) - - (178,925 )
At 31 October 2023 76,942 3,242,435 42,725 198,253 3,560,355
NET BOOK VALUE
At 31 October 2023 272,790 4,893,583 2 44,819 5,211,194
At 31 October 2022 279,785 5,098,393 2 99,457 5,477,637

Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 287,011 294,498
Amounts owed by related undertakings 387,098 498,996
Director's current account 127,171 290,219
Prepayments and accrued income 21,499 19,779
822,779 1,103,492

Amounts falling due after more than one year:
Trade debtors 75,726 139,424

Aggregate amounts 898,505 1,242,916

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 117,107
Hire purchase contracts (see note 8) 642,475 833,593
Trade creditors 5,758 12,196
Amounts owed to related
undertakings 248,391 -
Taxation and social security 92,204 1,871
Other creditors 23,814 7,272
Accruals and deferred income 156,264 30,641
1,168,906 1,002,680

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 519,529 938,341

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 642,475 833,593
Between one and five years 519,529 938,341
1,162,004 1,771,934

Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 70,000 70,000
Between one and five years - 70,000
70,000 140,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 117,107
Hire purchase contracts 1,162,004 1,771,934
1,162,004 1,889,041

Hire purchase contracts are secured against the assets to which they relate.
The bank overdraft is secured by a fixed and floating charge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,251,923 1,283,847

Deferred
tax
£   
Balance at 1 November 2022 1,283,847
Accelerated capital allowances (31,924 )
Balance at 31 October 2023 1,251,923

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
480,100 Ordinary A shares £1 480,100 480,100
50,000 Ordinary B shares £1 50,000 50,000
50,000 Ordinary C shares £1 50,000 50,000
580,100 580,100

The "A", "B" and "C" shares shall constitute different classes of shares for the purposes of the Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same rights and rank pari passu in all respects except that the "B" and "C" shares do not have voting rights and the director shall be entitled to pay such different dividend of the "A", "B"and "C" shares as they shall from time to time decide.

Sayers Road Tanker Rentals Limited (Registered number: 04315263)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

12. CONTINGENT LIABILITIES

There is a cross guarantee in place between Sayers Road Tanker Rentals Limited and Sayers Road Tankers Engineering Limited in respect of their banking facilities. At the balance sheet date Sayers Road Tankers Engineering Limited had a bank overdraft of £133,857. There is also a cross guarantee in place between Sayers Road Tanker Rentals Limited and Sayers Property Investments Limited in respect of their bank loans. At the balance sheet date Sayers Property Investments Limited had bank loans of £580,508.

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
C Sayer
Balance outstanding at start of year 290,219 54,732
Amounts advanced 219,028 410,487
Amounts repaid (382,076 ) (175,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 127,171 290,219

No interest has been charged and there are no formal repayments terms.