Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false262023-04-01falsetrueHeating oil distributors27false 00891979 2023-04-01 2024-03-31 00891979 2022-04-01 2023-03-31 00891979 2024-03-31 00891979 2023-03-31 00891979 2022-04-01 00891979 1 2023-04-01 2024-03-31 00891979 1 2022-04-01 2023-03-31 00891979 5 2023-04-01 2024-03-31 00891979 5 2022-04-01 2023-03-31 00891979 d:Director1 2023-04-01 2024-03-31 00891979 d:Director2 2023-04-01 2024-03-31 00891979 e:Buildings 2023-04-01 2024-03-31 00891979 e:Buildings 2024-03-31 00891979 e:Buildings 2023-03-31 00891979 e:Buildings e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:PlantMachinery 2023-04-01 2024-03-31 00891979 e:PlantMachinery 2024-03-31 00891979 e:PlantMachinery 2023-03-31 00891979 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:MotorVehicles 2023-04-01 2024-03-31 00891979 e:MotorVehicles 2024-03-31 00891979 e:MotorVehicles 2023-03-31 00891979 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:OfficeEquipment 2023-04-01 2024-03-31 00891979 e:OfficeEquipment 2024-03-31 00891979 e:OfficeEquipment 2023-03-31 00891979 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00891979 e:OtherPropertyPlantEquipment 2024-03-31 00891979 e:OtherPropertyPlantEquipment 2023-03-31 00891979 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00891979 e:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 00891979 e:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 00891979 e:CurrentFinancialInstruments 2024-03-31 00891979 e:CurrentFinancialInstruments 2023-03-31 00891979 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 00891979 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 00891979 e:ReportableOperatingSegment1 2023-04-01 2024-03-31 00891979 e:ReportableOperatingSegment1 2022-04-01 2023-03-31 00891979 e:ReportableOperatingSegment2 2023-04-01 2024-03-31 00891979 e:ReportableOperatingSegment2 2022-04-01 2023-03-31 00891979 f:UnitedKingdom 2023-04-01 2024-03-31 00891979 f:UnitedKingdom 2022-04-01 2023-03-31 00891979 e:ShareCapital 2024-03-31 00891979 e:ShareCapital 2023-03-31 00891979 e:CapitalRedemptionReserve 2023-04-01 2024-03-31 00891979 e:OtherMiscellaneousReserve 2024-03-31 00891979 e:OtherMiscellaneousReserve 2023-03-31 00891979 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00891979 e:RetainedEarningsAccumulatedLosses 2024-03-31 00891979 e:RetainedEarningsAccumulatedLosses 2023-03-31 00891979 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 00891979 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 00891979 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:UnlistedNon-exchangeTraded 2024-03-31 00891979 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:UnlistedNon-exchangeTraded 2023-03-31 00891979 d:OrdinaryShareClass3 2023-04-01 2024-03-31 00891979 d:OrdinaryShareClass3 2024-03-31 00891979 d:OrdinaryShareClass3 2023-03-31 00891979 d:OrdinaryShareClass4 2023-04-01 2024-03-31 00891979 d:OrdinaryShareClass4 2024-03-31 00891979 d:OrdinaryShareClass4 2023-03-31 00891979 d:OrdinaryShareClass5 2023-04-01 2024-03-31 00891979 d:OrdinaryShareClass5 2024-03-31 00891979 d:OrdinaryShareClass5 2023-03-31 00891979 d:FRS102 2023-04-01 2024-03-31 00891979 d:Audited 2023-04-01 2024-03-31 00891979 d:FullAccounts 2023-04-01 2024-03-31 00891979 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00891979 e:WithinOneYear 2024-03-31 00891979 e:WithinOneYear 2023-03-31 00891979 e:BetweenOneFiveYears 2024-03-31 00891979 e:BetweenOneFiveYears 2023-03-31 00891979 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00891979 2 2023-04-01 2024-03-31 00891979 7 2023-04-01 2024-03-31 00891979 g:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00891979









S S MOTORS (FUELS) LIMITED

 FINANCIAL STATEMENTS AND DIRECTORS' REPORT
For the year ended 31 MARCH 2024







































 
S S MOTORS (FUELS) LIMITED
REGISTERED NUMBER: 00891979

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 6 
7,500
7,500

Tangible assets
 7 
804,556
767,703

  
812,056
775,203

Current assets
  

Stocks
  
257,331
216,770

Debtors: amounts falling due within one year
 8 
626,637
800,250

Cash at bank and in hand
 9 
1,704,549
1,633,431

  
2,588,517
2,650,451

Creditors: amounts falling due within one year
 10 
(1,961,675)
(2,116,678)

Net current assets
  
 
 
626,842
 
 
533,773

Total assets less current liabilities
  
1,438,898
1,308,976

Provisions for liabilities
  

Deferred tax
  
(169,722)
(165,941)

  
 
 
(169,722)
 
 
(165,941)

Net assets
  
1,269,176
1,143,035

Page 1

 
S S MOTORS (FUELS) LIMITED
REGISTERED NUMBER: 00891979
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 12 
36,000
36,000

Capital redemption reserve
 13 
14,000
14,000

Profit and loss account
 13 
1,219,176
1,093,035

  
1,269,176
1,143,035


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 August 2024.




Mr S Munns
Mr P Munns
Director
Director

The notes on pages 4 to 16 form part of these financial statements.

Page 2

 
S S MOTORS (FUELS) LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
277,567
736,460

Adjustments for:

Depreciation of tangible assets
186,455
172,123

Loss on disposal of tangible assets
(15,168)
(3,316)

Interest received
(35,159)
(24,327)

Taxation charge
100,978
164,199

(Increase)/decrease in stocks
(40,561)
90,728

Decrease/(increase) in debtors
173,612
(32,274)

(Decrease) in creditors
(67,813)
(607,884)

(Decrease)/increase in amounts owed to groups
(219,422)
700,000

Corporation tax (paid)
(145,598)
(364,077)

Net cash generated from operating activities

214,891
831,632


Cash flows from investing activities

Purchase of intangible fixed assets
-
(7,500)

Purchase of tangible fixed assets
(229,698)
(191,313)

Sale of tangible fixed assets
21,558
7,400

Interest received
35,159
24,327

Net cash from investing activities

(172,981)
(167,086)

Cash flows from financing activities

Dividends paid
(151,426)
(7,210,624)

Net cash used in financing activities
(151,426)
(7,210,624)

Net (decrease) in cash and cash equivalents
(109,516)
(6,546,078)

Cash and cash equivalents at beginning of year
1,633,433
8,179,511

Cash and cash equivalents at the end of year
1,523,917
1,633,433


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,704,547
1,633,433

Bank overdrafts
(180,630)
-

1,523,917
1,633,433


Page 3

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

S S Motors (Fuels) Limited is a private company limited by shares, incorporated in England & Wales with a registration number of 00891979. The registered office address is shown on the company information page.
The principal activity of the company for the year continued to be that of selling domestic heating oils, agricultural and commercial fuels.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 6

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
4%
straight line
Plant and machinery
-
10%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
10%
reducing balance
Other fixed assets
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Page 7

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 9

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: 
Depreciation - as disclosed in accounting policy 2.9 'Tangible Fixed Assets', the company makes an estimation of each tangible fixed assets' useful life and respective residual value. Depreciation is then charged to the Profit and Loss account over this useful life to reflect the reduction in value. Depreciation charged to the Profit and Loss account during the year is disclosed in note 8.

Page 10

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Fuel sales
10,995,514
14,953,629

Boiler maintenance sales
850,340
944,653

11,845,854
15,898,282


2024
2023
£
£

United Kingdom
11,845,854
15,898,282

11,845,854
15,898,282


All turnover arose within the United Kingdom.


5.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 27).


6.


Intangible assets




Patents

£



Cost


At 1 April 2023
7,500



At 31 March 2024

7,500






Net book value



At 31 March 2024
7,500



At 31 March 2023
7,500



Page 11

 


 
S S MOTORS (FUELS) LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


7.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
261,143
212,143
1,538,738
97,506
10,000
2,119,530


Additions
-
-
212,428
17,270
-
229,698


Disposals
-
-
(90,823)
-
-
(90,823)



At 31 March 2024

261,143
212,143
1,660,343
114,776
10,000
2,258,405



Depreciation


At 1 April 2023
167,922
100,460
994,605
83,507
5,333
1,351,827


Charge for the year on owned assets
10,446
11,168
160,450
2,391
2,000
186,455


Disposals
-
-
(84,433)
-
-
(84,433)



At 31 March 2024

178,368
111,628
1,070,622
85,898
7,333
1,453,849



Net book value



At 31 March 2024
82,775
100,515
589,721
28,878
2,667
804,556



At 31 March 2023
93,221
111,684
544,133
13,998
4,667
767,703

Page 12

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Debtors

2024
2023
£
£


Trade debtors
424,587
586,521

Other debtors
111,805
130,026

Prepayments and accrued income
90,245
83,703

626,637
800,250



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,704,549
1,633,431

Less: bank overdrafts
(180,630)
-

1,523,919
1,633,431



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
180,630
-

Trade creditors
1,244,274
1,279,976

Amounts owed to group undertakings
480,578
700,000

Corporation tax
20,648
69,049

Other taxation and social security
14,763
17,507

Other creditors
4,547
3,753

Accruals and deferred income
16,235
46,393

1,961,675
2,116,678


Page 13

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Financial instruments

2024
2023
£
£

Financial assets


Cash at bank and in hand
1,704,549
1,633,431


Financial liabilities


Bank overdrafts
(180,630)
-


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



17,000 (2023 - 17,000) Ordinary C Shares shares of £1.00 each
17,000
17,000
17,000 (2023 - 17,000) Ordinary D Shares shares of £1.00 each
17,000
17,000
1,000 (2023 - 1,000) Ordinary E Shares shares of £1.00 each
1,000
1,000
1,000 (2023 - 1,000) Ordinary F Shares shares of £1.00 each
1,000
1,000

36,000

36,000

During the previous year the entire share capital was transferred to Molford New Co Limited via share for share exchange with the previous shareholders of the Company. 
On 24 August 2023 the name of Molford New Co Limited was changed to Molford Holdings Limited.
Each share is entitled to one vote, has the right to participate in a distribution of dividends as recommended by the Board of Directors and has the right to participate in a capital distribution or winding up in proportion to the amount of capital paid up on each ordinary share. 



13.


Reserves

Capital redemption reserve

The capital redemption reserve represents the nominal value of shares re-purchased by the company in a previous accounting period.

Profit and loss account

The profit and loss account represents all profits generated by the company, less distributions made from profits in the form of dividends paid.

Page 14

 
S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14.


Analysis of net debt




At 1 April 2023
Cash flows
At 31 March 2024
£

£

£

Cash at bank and in hand

1,633,433

71,114

1,704,547

Bank overdrafts

-

(180,630)

(180,630)

Debt due within 1 year

(1,347)

-

(1,347)


1,632,086
(109,516)
1,522,570


15.


Capital commitments


At 31 March 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
150,433
-

150,433
-


16.


Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £337,727 (2023: £97,751).
Contributions totalling £Nil (2023: £Nil) were payable to the scheme at the end of the year.


17.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
8,400
8,400

Later than 1 year and not later than 5 years
9,800
17,500

18,200
25,900

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S S MOTORS (FUELS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.


Controlling party

The Parent Company of S S Motors (Fuels) Limited is Molford Holdings Limited (Renamed from Molford New Co Limited on 24 August 2023). Consolidated accounts of the company are available from it's registered office, Raleigh House 14C Compass Point Business Park, Stocks Bridge Way, St Ives, Cambridgeshire, PE27 5JL. 
The ultimate controlling parties are Mr P Munns and Mr S Munns, by virtue of their majority shareholding in Molford Holdings Limited. 


19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 21 August 2024 by Ben Beech ACA (Senior statutory auditor) on behalf of Whitings LLP.

 
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