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REGISTERED NUMBER: 02731415 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

BILLING SERVICE STATION LTD.

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


BILLING SERVICE STATION LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: D Patel





SECRETARY: S Patel





REGISTERED OFFICE: 2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





BUSINESS ADDRESS: Billing Service Station Ltd
Billing Aquadrome
Crow Lane
Northampton
Northamptonshire
NN3 9DA





REGISTERED NUMBER: 02731415 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023


The director presents his strategic report for the year ended 30 November 2023.

REVIEW OF BUSINESS
The company continued its main activities of retailing automotive fuel and convenience store operation.

Overall turnover increased significantly comprising of significant increases in fuel turnover. The quantity of fuel sold was flat but significant increases in the oil price drove selling prices of fuel to unprecedented levels. Shops and Services, continued to deliver strong results.

Billing Service Station Ltd achieved sales of £12,276,590 (2022 : £11,369,867) and delivered pre tax profit of £597,578 (2022 : £484,198) Expenses continue to be tightly controlled in comparison to budget, and business rates relief continued to assist the profitability of the company.

The net assets as at the year end were £4,585,165 (2022 : £3,966,621).

PRINCIPAL RISKS AND UNCERTAINTIES
Downturns in economic environment and worldwide increase in fuel prices have historically been the biggest threat to the filling station industry. The company is exposed to changes in Government Policy in the market in which we operate such as changes in fuel prices, changes in sale of aged and time restricted products, tax law and in the legislation around sensitive data management.

All of these risks are closely monitored and under constant review in order to mitigate any risks, with outcomes
such as adjusting of headcount during a period of economic uncertainty.

FINANCIAL RISK

The company currently has a secured borrowing of £1.1m. The loan quantum is not considered to put the company at serious risk of being unable to meet its payments, even in the event of a steep interest rate rise.

The business is exposed to a variety of financial risks including the effects of changes in interest rates, credit risk and client liquidity risk. The business' principal financial instrument comprise cash and bank deposits, that arise directly from its operations.

The company's principal financial assets are intercompany receivables, which represent the Company's major exposure to credit risk in relation to its financial assets.

REGULATORY

By virtue of the fact that the company sells some age-restricted products, legislative actions could potentially adversely affect it. These policies are reviewed regularly to make sure the company is not exposed to any new or changed threats.

ON BEHALF OF THE BOARD:





D Patel - Director


20 May 2024

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 NOVEMBER 2023


The director presents his report with the financial statements of the company for the year ended 30 November 2023.

DIVIDENDS
An interim dividend of £17,700 per share was paid on 30 November 2023. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2023 will be £ 35,400 .

DIRECTOR
D Patel held office during the whole of the period from 1 December 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 NOVEMBER 2023


AUDITORS
The auditors, Ad Valorem Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D Patel - Director


20 May 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BILLING SERVICE STATION LTD.


Opinion
We have audited the financial statements of Billing Service Station Ltd. (the 'company') for the year ended 30 November 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 Financial Reporting Standard 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 30 November 2023 and of its profit 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.

Basis for opinion
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.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BILLING SERVICE STATION LTD.


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have 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 identified material misstatements in the Strategic Report or the Report of the Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BILLING SERVICE STATION LTD.


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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Company's workforce
- Health and safety regulation, reflecting the Company's production, distribution and operating processes
- Data privacy, reflecting the Company's management of personal and corporate data

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BILLING SERVICE STATION LTD.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters which we are required to address
The comparative figures for the year ended 30 November 2022 were unaudited.

Use of our 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 a Report of the Auditors 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.




Zubair Arshad FCCA ACA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

20 May 2024

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
(Unaudited)
Notes £ £

TURNOVER 3 12,276,590 11,369,867

Cost of sales 10,952,497 10,293,931
GROSS PROFIT 1,324,093 1,075,936

Administrative expenses 753,520 608,902
570,573 467,034

Other operating income 72,025 80,078
OPERATING PROFIT 5 642,598 547,112

Interest receivable and similar income 803 66
643,401 547,178

Interest payable and similar expenses 6 45,823 62,980
PROFIT BEFORE TAXATION 597,578 484,198

Tax on profit 7 140,450 100,487
PROFIT FOR THE FINANCIAL YEAR 457,128 383,711

OTHER COMPREHENSIVE INCOME
Gain on revaluation of investment
property 262,420 -
Income tax relating to other
comprehensive income

(65,604

)

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

196,816

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

653,944

383,711

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
(Unaudited)
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 4,581,831 4,553,525
Investments 10 110,000 110,000
Investment property 11 558,001 295,581
5,249,832 4,959,106

CURRENT ASSETS
Stocks 12 128,332 128,348
Debtors 13 1,339,467 1,802,459
Cash at bank and in hand 118,901 156,718
1,586,700 2,087,525
CREDITORS
Amounts falling due within one year 14 1,326,652 1,287,248
NET CURRENT ASSETS 260,048 800,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,509,880

5,759,383

CREDITORS
Amounts falling due after more than one
year

15

(842,433

)

(1,785,539

)

PROVISIONS FOR LIABILITIES 18 (82,282 ) (7,223 )
NET ASSETS 4,585,165 3,966,621

CAPITAL AND RESERVES
Called up share capital 19 2 2
Revaluation reserve 20 196,816 -
Retained earnings 20 4,388,347 3,966,619
SHAREHOLDERS' FUNDS 4,585,165 3,966,621

The financial statements were approved by the director and authorised for issue on 20 May 2024 and were signed by:





D Patel - Director


BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£ £ £ £
Balance at 1 December 2021 2 3,617,908 - 3,617,910

Changes in equity
Dividends - (35,000 ) - (35,000 )
Total comprehensive income - 383,711 - 383,711
Balance at 30 November 2022 2 3,966,619 - 3,966,621

Changes in equity
Dividends - (35,400 ) - (35,400 )
Total comprehensive income - 457,128 196,816 653,944
Balance at 30 November 2023 2 4,388,347 196,816 4,585,165

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
(Unaudited)
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 626,660 465,681
Interest paid (45,823 ) (62,980 )
Tax paid (79,599 ) (81,001 )
Net cash from operating activities 501,238 321,700

Cash flows from investing activities
Purchase of tangible fixed assets (46,607 ) (390 )
Sale of tangible fixed assets 14,749 -
Interest received 803 66
Net cash from investing activities (31,055 ) (324 )

Cash flows from financing activities
Loan repayments in year (508,000 ) (337,000 )
Amount introduced by directors 35,400 17,942
Equity dividends paid (35,400 ) (35,000 )
Net cash from financing activities (508,000 ) (354,058 )

Decrease in cash and cash equivalents (37,817 ) (32,682 )
Cash and cash equivalents at
beginning of year

2

156,718

189,400

Cash and cash equivalents at end of
year

2

118,901

156,718

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
(Unaudited)
£ £
Profit before taxation 597,578 484,198
Depreciation charges 8,534 11,297
Profit on disposal of fixed assets (4,982 ) -
Finance costs 45,823 62,980
Finance income (803 ) (66 )
646,150 558,409
Decrease/(increase) in stocks 16 (14,233 )
Decrease/(increase) in trade and other debtors 462,992 (80,786 )
(Decrease)/increase in trade and other creditors (482,498 ) 2,291
Cash generated from operations 626,660 465,681

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 November 2023
30/11/23 1/12/22
£ £
Cash and cash equivalents 118,901 156,718
Year ended 30 November 2022
30/11/22 1/12/21
(Unaudited)
£ £
Cash and cash equivalents 156,718 189,400


BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/12/22 Cash flow At 30/11/23
£ £ £
Net cash
Cash at bank and in hand 156,718 (37,817 ) 118,901
156,718 (37,817 ) 118,901
Debt
Debts falling due within 1 year (360,000 ) - (360,000 )
Debts falling due after 1 year (1,280,433 ) 508,000 (772,433 )
(1,640,433 ) 508,000 (1,132,433 )
Total (1,483,715 ) 470,183 (1,013,532 )

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Billing Service Station 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.
Plant and machinery - 15% on cost
Motor vehicles - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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


BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2023 2022
(Unaudited)
£ £
Sales of goods 12,262,013 11,355,044
Commissions receivable 14,577 14,823
12,276,590 11,369,867

4. EMPLOYEES AND DIRECTORS
2023 2022
(Unaudited)
£ £
Wages and salaries 395,724 335,821
Social security costs 16,055 16,121
Other pension costs 21,125 19,944
432,904 371,886

The average number of employees during the year was as follows:
2023 2022
(Unaudited)

Forecourt & shop staff 18 18
Administration 2 2
20 20

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. EMPLOYEES AND DIRECTORS - continued

2023 2022
(Unaudited)
£ £
Director's remuneration 11,400 11,400

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
(Unaudited)
£ £
Depreciation - owned assets 8,534 11,297
Profit on disposal of fixed assets (4,982 ) -
Auditors' remuneration 15,000 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
(Unaudited)
£ £
Bank interest 36,560 45,745
Loan 9,263 17,235
45,823 62,980

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
(Unaudited)
£ £
Current tax:
UK corporation tax 130,995 94,048

Deferred tax 9,455 6,439
Tax on profit 140,450 100,487

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. TAXATION - continued

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
(Unaudited)
£ £
Profit before tax 597,578 484,198
Profit multiplied by the standard rate of corporation tax in the UK of
23.011% (2022 - 19%)

137,509

91,998

Effects of:
Capital allowances in excess of depreciation (6,514 ) -
Depreciation in excess of capital allowances - 2,050
Effect of movement in deferred tax 9,455 6,439
Total tax charge 140,450 100,487

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£ £ £
Gain on revaluation of investment
property 262,420 (65,604 ) 196,816
262,420 (65,604 ) 196,816

8. DIVIDENDS
2023 2022
(Unaudited)
£ £
Ordinary shares of £1 each
Interim 35,400 35,000

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
COST
At 1 December 2022 4,515,118 293,536 23,153 4,831,807
Additions - 9,028 37,579 46,607
Disposals - - (23,153 ) (23,153 )
At 30 November 2023 4,515,118 302,564 37,579 4,855,261
DEPRECIATION
At 1 December 2022 - 264,896 13,386 278,282
Charge for year - 7,751 783 8,534
Eliminated on disposal - - (13,386 ) (13,386 )
At 30 November 2023 - 272,647 783 273,430
NET BOOK VALUE
At 30 November 2023 4,515,118 29,917 36,796 4,581,831
At 30 November 2022 4,515,118 28,640 9,767 4,553,525

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 December 2022
and 30 November 2023 110,000
NET BOOK VALUE
At 30 November 2023 110,000
At 30 November 2022 110,000

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


10. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ASSOCIATED COMPANY

Braydown Properties Ltd
Registered office: 2 Manor Farm Court, Old Wolverton Road, Old Wolverton, Milton Keynes, Buckinghamshire, MK12 5NN
Nature of business: Property investment
%
Class of shares: holding
Ordinary shares 33.00
2023 2022
£ £
Aggregate capital and reserves 1,524,089 1,455,328
Profit for the year 68,761 103,667

11. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2022 295,581
Revaluations 262,420
At 30 November 2023 558,001
NET BOOK VALUE
At 30 November 2023 558,001
At 30 November 2022 295,581

Fair value at 30 November 2023 is represented by:
£
Valuation in 2023 262,421
Cost 295,580
558,001

12. STOCKS
2023 2022
(Unaudited)
£ £
Stocks 128,332 128,348

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


13. DEBTORS
2023 2022
(Unaudited)
£ £
Amounts falling due within one year:
Trade debtors 127,525 135,220
Other debtors 144,504 135,000
272,029 270,220

Amounts falling due after more than one year:
Amounts owed by associates 1,067,438 1,532,239

Aggregate amounts 1,339,467 1,802,459

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£ £
Bank loans and overdrafts (see note 16) 360,000 360,000
Trade creditors 316,289 385,593
Tax 130,995 79,599
Social security and other taxes 5,250 5,064
VAT 55,847 37,778
Other creditors 43,782 57,783
Directors' current accounts 395,789 360,389
Accruals and deferred income 18,700 1,042
1,326,652 1,287,248

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
(Unaudited)
£ £
Bank loans (see note 16) 772,433 1,280,433
Amounts owed to associates 70,000 505,106
842,433 1,785,539

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


16. LOANS

An analysis of the maturity of loans is given below:

2023 2022
(Unaudited)
£ £
Amounts falling due within one year or on demand:
Bank loan account 1 360,000 360,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 772,433 1,280,433

17. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
(Unaudited)
£ £
Bank loans 1,132,433 1,640,433

The bank borrowings were secured by legal mortgages over the company's properties, together with a
standard debenture.

18. PROVISIONS FOR LIABILITIES
2023 2022
(Unaudited)
£ £
Deferred tax 82,282 7,223

Deferred tax
£
Balance at 1 December 2022 7,223
Provided during year 75,059
Balance at 30 November 2023 82,282

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

BILLING SERVICE STATION LTD. (REGISTERED NUMBER: 02731415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


20. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 December 2022 3,966,619 - 3,966,619
Profit for the year 457,128 457,128
Dividends (35,400 ) (35,400 )
Gain on revaluation - 262,420 262,420
Tax on Revaluation - (65,604 ) (65,604 )
At 30 November 2023 4,388,347 196,816 4,585,163

21. PENSION COMMITMENTS

Pension commitments during the year amounted to £80,217 (2022: £42,761). The amount unpaid at the balance sheet date was £Nil (2022: £Nil).