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REGISTERED NUMBER: 01681681 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DANBURY OILS LIMITED

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DANBURY OILS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B F Humphreys
W P Scrivener
T Humphreys





SECRETARY: B F Humphreys





REGISTERED OFFICE: Viking House
Unit 5A
Benbridge Industrial Estate
Heybridge
Maldon Essex
CM9 7XP





REGISTERED NUMBER: 01681681 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 577,686 436,759

CURRENT ASSETS
Stocks 60,598 76,435
Debtors 6 380,464 290,042
Cash at bank and in hand 906,753 717,369
1,347,815 1,083,846
CREDITORS
Amounts falling due within one year 7 410,599 451,796
NET CURRENT ASSETS 937,216 632,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,514,902

1,068,809

CREDITORS
Amounts falling due after more than one
year

8

(86,424

)

(67,249

)

PROVISIONS FOR LIABILITIES 10 (106,534 ) (71,302 )
NET ASSETS 1,321,944 930,258

CAPITAL AND RESERVES
Called up share capital 11 100 100
Other reserves 135,096 135,096
Retained earnings 1,186,748 795,062
SHAREHOLDERS' FUNDS 1,321,944 930,258

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.

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





W P Scrivener - Director


DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Danbury Oils 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 (£).


Amounts are rounded to the nearest Pound.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of edible oil to the catering industry, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 50 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation has been charged on Freehold Property as the directors consider the residual value to be at least equal to the net book value.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.


DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

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.

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.

Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the income statement in the same period as the related expenditure.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 7 ) .

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 254,000 197,307 14,691
Additions - 73,125 -
At 31 December 2023 254,000 270,432 14,691
DEPRECIATION
At 1 January 2023 - 132,503 14,529
Charge for year - 17,517 24
At 31 December 2023 - 150,020 14,553
NET BOOK VALUE
At 31 December 2023 254,000 120,412 138
At 31 December 2022 254,000 64,804 162

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 235,351 1,879 703,228
Additions 123,270 - 196,395
At 31 December 2023 358,621 1,879 899,623
DEPRECIATION
At 1 January 2023 118,268 1,169 266,469
Charge for year 37,546 381 55,468
At 31 December 2023 155,814 1,550 321,937
NET BOOK VALUE
At 31 December 2023 202,807 329 577,686
At 31 December 2022 117,083 710 436,759

No depreciation has been charged on Freehold property as the directors consider the residual value to be at least equal to the net book value.

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 159,217
Additions 119,185
At 31 December 2023 278,402
DEPRECIATION
At 1 January 2023 67,940
Charge for year 31,552
At 31 December 2023 99,492
NET BOOK VALUE
At 31 December 2023 178,910
At 31 December 2022 91,277

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 353,707 273,051
Other debtors 26,757 16,991
380,464 290,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 49,446 26,140
Trade creditors 191,126 300,043
Taxation and social security 149,862 106,809
Other creditors 10,165 8,804
410,599 451,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 68,924 39,749
86,424 67,249

DANBURY OILS LIMITED (REGISTERED NUMBER: 01681681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 118,370 65,889

Hire purchase liabilities are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 80,921 45,689
Deferred tax on revaluation 25,613 25,613
106,534 71,302

Deferred
tax
£   
Balance at 1 January 2023 71,302
Provided during year 35,232
Balance at 31 December 2023 106,534

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. ULTIMATE CONTROLLING PARTY

The company is controlled by B F Humphreys, a director of the company, and 55% shareholder.