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REGISTERED NUMBER: 04159558 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Octane Distribution Limited

Octane Distribution Limited (Registered number: 04159558)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Octane Distribution Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R D Fearn
P R Gerring
J O Nicholson





REGISTERED OFFICE: Unit 4
Vantage Park
Goodwood Drive
Sparkford
Somerset
BA22 7FQ





REGISTERED NUMBER: 04159558 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Octane Distribution Limited (Registered number: 04159558)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,516 112,693

CURRENT ASSETS
Stocks 438,576 760,036
Debtors 5 197,160 145,209
Cash at bank and in hand 77,522 31,965
713,258 937,210
CREDITORS
Amounts falling due within one year 6 519,652 564,721
NET CURRENT ASSETS 193,606 372,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,122

485,182

CREDITORS
Amounts falling due after more than one
year

7

(26,544

)

(9,135

)

PROVISIONS FOR LIABILITIES (25,572 ) (21,186 )
NET ASSETS 311,006 454,861

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 4,990 4,990
Capital redemption reserve 10 10
Retained earnings 305,906 449,761
SHAREHOLDERS' FUNDS 311,006 454,861

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by:




R D Fearn - Director


Octane Distribution Limited (Registered number: 04159558)

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

1. STATUTORY INFORMATION

Octane Distribution 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 10-33% straight line method
Motor vehicles - 10-33% straight line method
Computer equipment - 10-33% straight line method

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

A provision has been entered for stock, being expected write off in the following financial year due to anticipated cessation of Superpro product range.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Octane Distribution Limited (Registered number: 04159558)

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

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 98,786 116,700 119,416 334,902
Additions 29,277 68,308 8,379 105,964
Disposals - (45,880 ) - (45,880 )
At 31 December 2023 128,063 139,128 127,795 394,986
DEPRECIATION
At 1 January 2023 34,442 101,810 85,957 222,209
Charge for year 15,316 9,989 23,836 49,141
Eliminated on disposal - (45,880 ) - (45,880 )
At 31 December 2023 49,758 65,919 109,793 225,470
NET BOOK VALUE
At 31 December 2023 78,305 73,209 18,002 169,516
At 31 December 2022 64,344 14,890 33,459 112,693

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 16,750 32,105 48,855
Additions 56,208 - 56,208
At 31 December 2023 72,958 32,105 105,063
DEPRECIATION
At 1 January 2023 2,978 14,269 17,247
Charge for year 8,837 10,702 19,539
At 31 December 2023 11,815 24,971 36,786
NET BOOK VALUE
At 31 December 2023 61,143 7,134 68,277
At 31 December 2022 13,772 17,836 31,608

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 157,410 122,538
Directors' current accounts 3,738 -
Tax 28,848 22,671
VAT 7,164 -
197,160 145,209

Octane Distribution Limited (Registered number: 04159558)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Debts factored without recours 94,429 57,010
PG loan - 20,199
Hire purchase contracts 35,603 18,229
Trade creditors 361,038 338,786
Corporation tax - 41,647
Social security and other taxes 10,837 8,356
VAT - 23,404
Directors' current accounts 12,130 41,344
Accrued expenses 5,615 15,746
519,652 564,721

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 26,544 9,135

8. SECURED DEBTS

Lloyds Bank Commercial Finance Limited provide debt factoring in the form of an invoice discounting service.

Lloyds Bank Commercial Finance Limited hold an all asset debenture for any advance made by them to the company.