PTP Accounts Production v24.3.0.553 05769880 Board of Directors Board of Directors 30.4.24 1.5.23 30.4.24 30.4.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. No description of principal activity 76 76 true true false true true false false true false Fair value model 7% cumulative redeemable preference shares 0 6% cumulative redeemable preference shares 0 Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057698802023-04-30057698802024-04-30057698802023-05-012024-04-30057698802022-04-30057698802022-05-012023-04-30057698802023-04-3005769880ns15:EnglandWales2023-05-012024-04-3005769880ns14:PoundSterling2023-05-012024-04-3005769880ns10:Director12023-05-012024-04-3005769880ns10:Director22023-05-012024-04-3005769880ns10:Consolidated2024-04-3005769880ns10:ConsolidatedGroupCompanyAccounts2023-05-012024-04-3005769880ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005769880ns10:Consolidatedns10:MediumEntities2023-05-012024-04-3005769880ns10:Consolidatedns10:Audited2023-05-012024-04-3005769880ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3005769880ns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3005769880ns10:Consolidated2023-05-012024-04-3005769880ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3005769880ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3005769880ns10:FullAccounts2023-05-012024-04-3005769880ns10:EntityHasNeverTraded2023-05-012024-04-3005769880ns10:PreferenceShareClass12023-05-012024-04-3005769880ns10:PreferenceShareClass22023-05-012024-04-3005769880ns10:OrdinaryShareClass32023-05-012024-04-3005769880ns10:CompanySecretary12023-05-012024-04-3005769880ns10:RegisteredOffice2023-05-012024-04-3005769880ns10:Consolidated2022-05-012023-04-3005769880ns5:CurrentFinancialInstruments2024-04-3005769880ns5:CurrentFinancialInstruments2023-04-3005769880ns5:ShareCapital2024-04-3005769880ns5:ShareCapital2023-04-3005769880ns5:RetainedEarningsAccumulatedLosses2024-04-3005769880ns5:RetainedEarningsAccumulatedLosses2023-04-3005769880ns5:ShareCapital2022-04-3005769880ns5:RetainedEarningsAccumulatedLosses2022-04-3005769880ns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-3005769880ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-3005769880ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005769880ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3005769880ns10:PreferenceShareClass12024-04-3005769880ns10:PreferenceShareClass22024-04-3005769880ns5:DeferredTaxation2023-04-3005769880ns5:DeferredTaxation2024-04-3005769880ns10:OrdinaryShareClass32024-04-3005769880ns5:RetainedEarningsAccumulatedLosses2023-04-30
REGISTERED NUMBER: 05769880 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

TINCKNELL FUELS (HOLDINGS) LIMITED

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


TINCKNELL FUELS (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P F Tincknell
Mrs J M Tincknell





SECRETARY: P F Tincknell





REGISTERED OFFICE: Cathedral View Offices
19 Wookey Hole Road
Wells
Somerset
BA5 2BT





REGISTERED NUMBER: 05769880 (England and Wales)





AUDITORS: Gordon Wood Scott & Partners Limited
Statutory Auditors
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The principal activities of the group continue to be the sale and distribution of oil products and the provision of heating and electrical services.

The profit for the year after deducting taxation of £154,273 was £355,241 which after interim dividends of £80,000 leaves £275,241 to be added to reserves.

Global oil prices rose from May 2023 to October 2023 and fell back in the second half of the year. The average price per litre in the year was 18% below the average for the previous year but there was an increase in the quantity of litres sold coming off the back of the previous year's higher prices. Despite the increase in volume fell due to the reduced oil price and the gross profit of the Oil Distribution Division fell by 8%.

The Heating Services Division saw an increase in turnover of 5% and continued to provide a significant profit contribution. The Electrical Services Division also showed a 5% increase in turnover and moved towards a breakeven position during the year.

Distribution costs in the year increased by £36,663 representing a 2% increase. Administration costs increased by £202,495 arising mainly from Directors' pension contributions.

The group continued to upgrade its tanker fleet during the year.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks to the group identified by the directors relate to the supply and price of oil and the general movement away from fossil fuels in the effort to reduce carbon emissions. The price of oil continues to be affected by the war in Ukraine and by the actions of the major oil producers, those events along with similar events in the future and naturally occurring or other disasters are likely to affect the business.

The group's results are also very dependent on weather conditions, cold weather conditions can be expected to lead to an increase in turnover and profit.

FUTURE DEVELOPMENTS
The profit for the year to 30 April 2025 s substantially dependent upon the weather during the winter period.

ON BEHALF OF THE BOARD:





P F Tincknell - Director


29 October 2024

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

DIVIDENDS
Dividends amounting to £80,000 were paid to shareholders in the year (2023: £100,000). The directors do not recommend payment of a final dividend.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

P F Tincknell
Mrs J M Tincknell

DISCLOSURE IN THE STRATEGIC REPORT
Future developments of the business are discussed in the Strategic Report.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Gordon Wood Scott & Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P F Tincknell - Director


29 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TINCKNELL FUELS (HOLDINGS) LIMITED

Opinion
We have audited the financial statements of Tincknell Fuels (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 April 2024 and of the group's 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 group 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 directors' 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 group's and the parent 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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.

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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TINCKNELL FUELS (HOLDINGS) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management and from our commercial knowledge and experience of the oil distribution and heating services
sectors;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, taxation legislation,
environmental, health and safety legislation and vehicle operators' licences;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TINCKNELL FUELS (HOLDINGS) LIMITED


To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing the company's legal expenses.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

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.




Richard Williams (Senior Statutory Auditor)
for and on behalf of Gordon Wood Scott & Partners Limited
Statutory Auditors
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

30 October 2024

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3 34,143,843 36,837,080

Cost of sales (29,452,623 ) (31,842,926 )
GROSS PROFIT 4,691,220 4,994,154

Distribution costs (1,548,334 ) (1,511,671 )
Administrative expenses (2,726,951 ) (2,335,003 )
415,935 1,147,480

Other operating income 176,402 183,833
OPERATING PROFIT 6 592,337 1,331,313

Interest receivable and similar income 31,512 1,450
623,849 1,332,763

Interest payable and similar expenses 7 (114,335 ) (145,388 )
PROFIT BEFORE TAXATION 509,514 1,187,375

Tax on profit 8 (154,273 ) (204,992 )
PROFIT FOR THE FINANCIAL YEAR 355,241 982,383

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

355,241

982,383

Profit attributable to:
Owners of the parent 355,241 982,383

Total comprehensive income attributable to:
Owners of the parent 355,241 982,383

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 11 3,058,879 2,824,010
Investments 12 - -
Investment property 13 2,329,000 2,329,000
5,387,879 5,153,010

CURRENT ASSETS
Stocks 14 781,879 845,957
Debtors 15 3,006,081 2,972,884
Cash at bank 5,156,947 5,342,409
8,944,907 9,161,250
CREDITORS
Amounts falling due within one year 16 (5,562,975 ) (5,828,886 )
NET CURRENT ASSETS 3,381,932 3,332,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,769,811

8,485,374

CREDITORS
Amounts falling due after more than one
year

17

(21,285

)

(84,408

)

PROVISIONS FOR LIABILITIES 20 (899,839 ) (827,520 )
NET ASSETS 7,848,687 7,573,446

CAPITAL AND RESERVES
Called up share capital 21 330,180 330,180
Other reserves 22 282,468 282,468
Profit and Loss Account 22 7,236,039 6,960,798
SHAREHOLDERS' FUNDS 7,848,687 7,573,446

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




P F Tincknell - Director



Mrs J M Tincknell - Director


TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

COMPANY BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 11 - -
Investments 12 1,348,018 1,348,018
Investment property 13 1,775,000 1,775,000
3,123,018 3,123,018

CREDITORS
Amounts falling due within one year 16 (1,989,033 ) (1,897,983 )
NET CURRENT LIABILITIES (1,989,033 ) (1,897,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,133,985

1,225,035

PROVISIONS FOR LIABILITIES 20 (78,740 ) (78,740 )
NET ASSETS 1,055,245 1,146,295

CAPITAL AND RESERVES
Called up share capital 21 330,180 330,180
Profit and Loss Account 22 725,065 816,115
SHAREHOLDERS' FUNDS 1,055,245 1,146,295

Company's (loss)/profit for the financial year (11,050 ) 397,235

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




P F Tincknell - Director



Mrs J M Tincknell - Director


TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up Profit
share and Loss Other Total
capital Account reserves equity
£    £    £    £   
Balance at 1 May 2022 330,180 6,078,415 282,468 6,691,063

Changes in equity
Dividends - (100,000 ) - (100,000 )
Total comprehensive income - 982,383 - 982,383
Balance at 30 April 2023 330,180 6,960,798 282,468 7,573,446

Changes in equity
Dividends - (80,000 ) - (80,000 )
Total comprehensive income - 355,241 - 355,241
Balance at 30 April 2024 330,180 7,236,039 282,468 7,848,687

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up Profit
share and Loss Total
capital Account equity
£    £    £   
Balance at 1 May 2022 330,180 518,880 849,060

Changes in equity
Dividends - (100,000 ) (100,000 )
Total comprehensive income - 397,235 397,235
Balance at 30 April 2023 330,180 816,115 1,146,295

Changes in equity
Dividends - (80,000 ) (80,000 )
Total comprehensive income - (11,050 ) (11,050 )
Balance at 30 April 2024 330,180 725,065 1,055,245

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,325,887 2,172,280
Interest paid (23,683 ) (48,561 )
Interest element of hire purchase payments
paid

(2,057

)

(6,237

)
Finance costs paid - (91,050 )
Government grants - 4,900
Tax paid (239,192 ) (360,242 )
Net cash from operating activities 1,060,955 1,671,090

Cash flows from investing activities
Purchase of tangible fixed assets (643,487 ) (1,106,957 )
Sale of tangible fixed assets 43,049 16,702
Interest received 31,512 1,450
Net cash from investing activities (568,926 ) (1,088,805 )

Cash flows from financing activities
HP finance in year (62,026 ) (93,676 )
Amount introduced by directors - 65,465
Amount withdrawn by directors (535,465 ) (160,000 )
Equity dividends paid (80,000 ) (100,000 )
Net cash from financing activities (677,491 ) (288,211 )

(Decrease)/increase in cash and cash equivalents (185,462 ) 294,074
Cash and cash equivalents at beginning of
year

2

5,342,409

5,048,335

Cash and cash equivalents at end of year 2 5,156,947 5,342,409

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.4.24 30.4.23
£    £   
Profit before taxation 509,514 1,187,375
Depreciation charges 376,626 365,471
Profit on disposal of fixed assets (11,818 ) (9,569 )
Gain on revaluation of fixed assets - (189,453 )
Government grants - (4,900 )
Finance costs 114,335 145,388
Finance income (31,512 ) (1,450 )
957,145 1,492,862
Decrease in stocks 64,078 225,594
(Increase)/decrease in trade and other debtors (30,198 ) 690,422
Increase/(decrease) in trade and other creditors 334,862 (236,598 )
Cash generated from operations 1,325,887 2,172,280

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 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 5,156,947 5,342,409
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 5,342,409 5,048,335


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank 5,342,409 (185,462 ) 5,156,947
5,342,409 (185,462 ) 5,156,947
Debt
Finance leases (146,434 ) 62,026 (84,408 )
Debts falling due within 1 year (1,315,000 ) - (1,315,000 )
(1,461,434 ) 62,026 (1,399,408 )
Total 3,880,975 (123,436 ) 3,757,539

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Tincknell Fuels (Holdings) 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Strategic Report on page 2.

A budget is prepared every March and progress is monitored in the monthly management accounts. The company meets its day-to-day working capital requirements using its own funds.

The directors, having considered profitability and working capital requirements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason a going concern basis of accounting in preparing the annual financial statements continues to be adopted.

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 wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of oil products and from the provision of heating services.
Sale of oil products
Turnover from the sale of oil products is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has taken delivery.
Sale of services
Turnover from the sale of heating and electrical services is usually recognised upon completion of the works but in the case of maintenance contracts where the contract spans a period of time, turnover is recognised by reference to the time that has elapsed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life:.
Freehold buildings - over 30 years
Plant and machinery - 20% to 50% on the reducing balance
Tankers - 25% on the reducing balance
Vans and cars - 25% to 35% on the reducing balance

Investment property
Investment property is shown at valuation. Any aggregated surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 group only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Land remediation
Where the group ceases to use land for the purposes of its trade, provision is made for the cost of cleaning up contamination arising from past use either by the group itself in its trade or by former occupiers.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

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

30.4.24 30.4.23
£    £   
Sale of oil products 31,415,845 34,231,018
Heating & electrical services 2,727,998 2,606,062
34,143,843 36,837,080

4. EMPLOYEES AND DIRECTORS

30.4.24 30.4.23
£ £
Wages and salaries 2,505,883 2,453,361
Social security costs 252,553 258,824
Other pension cost 318,224 120,034
3,076,660 2,832,219

The average monthly number of employees during the year was as follows::
30.4.24 30.4.23

Administration 34 33
Engineers and delivery 42 43
76 76

5. DIRECTORS' EMOLUMENTS
30.4.24 30.4.23
£    £   
Directors' remuneration - 4,191
Directors' pension contributions to money purchase schemes 188,000 -

Remuneration of key management personnel:
30.4.24 30.4.23
£ £
Salaries and other short term benefits 210,368 195,375

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. OPERATING PROFIT

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

30.4.24 30.4.23
£    £   
Other operating leases 52,349 48,780
Depreciation - owned assets 339,686 316,218
Depreciation - assets on hire purchase contracts 36,940 49,253
Profit on disposal of fixed assets (11,818 ) (9,569 )
Auditors' remuneration
- audit 19,000 17,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
£    £   
Directors loan interest 7,497 38,504
Other interest 13,731 12,512
Hire purchase 2,057 3,322
7% preference dividend 85,050 85,050
6% preference dividend 6,000 6,000
114,335 145,388

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax 81,954 161,382

Deferred tax:
Timing differences 72,319 43,610
Tax on profit 154,273 204,992

UK corporation tax has been charged at 25 % (2023 - 19.49 %).

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. 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:

30.4.24 30.4.23
£    £   
Profit before tax 509,514 1,187,375
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19.493 %)

127,379

231,455

Effects of:
Expenses not deductible for tax purposes 155 174
Capital allowances in excess of depreciation - (20,107 )
Preference dividends not deductible for tax purposes 22,763 17,748
Property impairment reversal not subject to tax - (36,930 )
Remeasurement of deferred tax on change in standard rate of tax - 9,606
effecting deferred tax
Depreciation on assets ineligible for capital allowances 3,976 3,046
Total tax charge 154,273 204,992

The group expects that deprecation will exceed capital allowances for the foreseeable future which will result in a reduction of the deferred tax liability.

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
30.4.24 30.4.23
£    £   
Ordinary shares of £1 each
Interim dividend 80,000 100,000

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. TANGIBLE FIXED ASSETS

Group
Freehold Plant and Vans and
property machinery Tankers cars Totals
£    £    £    £    £   
COST
At 1 May 2023 1,193,726 1,722,347 2,706,904 622,388 6,245,365
Additions - 23,531 561,745 60,450 645,726
Disposals - (4,994 ) (159,722 ) (63,130 ) (227,846 )
At 30 April 2024 1,193,726 1,740,884 3,108,927 619,708 6,663,245
DEPRECIATION
At 1 May 2023 12,739 1,262,850 1,801,197 344,569 3,421,355
Charge for year 9,739 96,837 200,479 69,571 376,626
Eliminated on disposal - (4,873 ) (158,100 ) (30,642 ) (193,615 )
At 30 April 2024 22,478 1,354,814 1,843,576 383,498 3,604,366
NET BOOK VALUE
At 30 April 2024 1,171,248 386,070 1,265,351 236,210 3,058,879
At 30 April 2023 1,180,987 459,497 905,707 277,819 2,824,010

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tankers
£   
COST
At 1 May 2023
and 30 April 2024 340,775
DEPRECIATION
At 1 May 2023 193,018
Charge for year 36,940
At 30 April 2024 229,958
NET BOOK VALUE
At 30 April 2024 110,817
At 30 April 2023 147,757

12. FIXED ASSET INVESTMENTS

The company owns 100% of the share capital of the following companies all of which are registered and incorporated in England and all are included in the consolidated accounts.

Tincknell Fuels Limited - distributors of oil products and the provision of heating & electrical services.
Avon Oils Limited (through Tincknell Fuels Limited) - dormant.

In the opinion of the directors, the value of the investments is not less than stated in the balance sheet. Investments are stated at the lower of cost and net realisable value.

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,329,000
NET BOOK VALUE
At 30 April 2024 2,329,000
At 30 April 2023 2,329,000

If investment property had not been revalued it would have been included at cost less impairment of £1,825,405 (2023: £1,825,405).

The property was valued at the year end by the directors based on evidence provided by recent professional valuations of similar properties.

Company
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,775,000
NET BOOK VALUE
At 30 April 2024 1,775,000
At 30 April 2023 1,775,000

If investment property had not been revalued it would have been included at historic cost less impairment of £1,079,597 (2023: £1,079,597).

The property was valued at the year end by the directors based on evidence provided by recent professional valuations of similar properties.

14. STOCKS

Group
30.4.24 30.4.23
£    £   
Goods for resale 781,879 845,957

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

15. DEBTORS

Group
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 2,415,250 2,383,910
Other debtors 33,422 87,238
VAT 209,605 175,503
Prepayments and accrued income 335,555 326,233
2,993,832 2,972,884

Amounts falling due after more than one year:
Other debtors 12,249 -

Aggregate amounts 3,006,081 2,972,884

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£    £    £    £   
Preference shares (see note 18) 1,315,000 1,315,000 1,315,000 1,315,000
Hire purchase contracts (see note 19) 63,123 62,026 - -
Payments on account 433,116 472,052 - -
Trade creditors 3,321,125 2,944,514 - -
Amounts owed to group undertakings - - 582,983 582,983
Corporation tax 4,079 161,317 - -
Social security and other taxes 103,700 97,603 - -
Other creditors - 864 - -
Directors' loan accounts - 535,465 - -
Accruals and deferred income 322,832 240,045 91,050 -
5,562,975 5,828,886 1,989,033 1,897,983

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 19) 21,285 84,408

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£    £    £    £   
Amounts falling due within one year or on demand:
Preference shares 1,315,000 1,315,000 1,315,000 1,315,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,215,000 7% cumulative redeemable
preference shares £1 1,215,000 1,215,000
100,000 6% cumulative redeemable
preference shares £1 100,000 100,000
1,315,000 1,315,000

The cumulative preference shares have no fixed repayment date and entitle the holders to dividends payable no later than three months after the end of the company's financial year. The holders of these shares have first call, at the nominal value, on a return of assets. The company and the preference shareholders are entitled to redeem part or all of the shares after two months written notice. Preference shareholders are not entitled to attend or vote at General Meetings of the company.

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 63,123 62,026
Between one and five years 21,285 84,408
84,408 146,434

Group
Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 23,856 20,441
Between one and five years 54,000 -
In more than five years 55,590 -
133,446 20,441

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

19. LEASING AGREEMENTS - continued

Minimum lease payments receivable by the group fall due as follows:



Non-cancellable
operating lease income

30.4.24 30.4.23
£ £
Within one year 77,511 88,001
Between one and five years 207,257 256,099
In more than five years - 23,055
284,768 367,155

The group uses hire purchase contracts to acquire tankers and motor vehicles. These contracts are secured by the related asset held under the contract. Hire purchase contracts generally include fixed payments and a purchase option at the end of the term.

20. PROVISIONS FOR LIABILITIES

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£    £    £    £   
Deferred tax 505,334 433,015 78,740 78,740
Other provisions
Land remediation 394,505 394,505 - -

Aggregate amounts 899,839 827,520 78,740 78,740

Group
Deferred Land
tax Remediation
£    £   
Balance at 1 May 2023 433,015 394,505
Charge to Statement of Comprehensive Income during year 72,319 -
Balance at 30 April 2024 505,334 394,505

Company
Deferred
tax
£   
Balance at 1 May 2023 78,740
Balance at 30 April 2024 78,740

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

20. PROVISIONS FOR LIABILITIES - continued

The amount of the net reversal of Deferred Tax expected to occur next year is £66,854 (2023: £nil) relating to the reversal of existing timing differences on tangible fixed assets.

The Land Remediation provision represents the cost of remediation for contaminated land formerly used for the storage of oil.The provision has been estimated with reference to the costs of remediation of a small area of the site. The timing of the expenditure is dependent upon the future use or sale of the property.

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
330,180 Ordinary £1 330,180 330,180

22. RESERVES

Group
Profit
and Loss Other
Account reserves Totals
£    £    £   

At 1 May 2023 6,960,798 282,468 7,243,266
Profit for the year 355,241 355,241
Dividends (80,000 ) (80,000 )
At 30 April 2024 7,236,039 282,468 7,518,507

Company
Profit
and Loss
Account
£   

At 1 May 2023 816,115
Deficit for the year (11,050 )
Dividends (80,000 )
At 30 April 2024 725,065

The balance on the Profit and Loss Account for both the group and the company includes realised profits and unrealised gains on investment properties.

23. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments that are not included in the balance sheet are £270,446 (2023 - £382,853). The commitments include minimum lease payments under non-cancellable operating leases referred to in Note 19 above.

24. RELATED PARTY DISCLOSURES

TINCKNELL FUELS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05769880)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

Entities over which the entity has control, joint control or significant influence

R.Tincknell & Son Limited is an entity which shares some directors with Tincknell Fuels (Holdings) Limited.
During the year, the group purchased goods and services from R. Tincknell & Son Limited amounting to £117,667 (2023: £82,484) including rent payments of £15,104 (2023: £15,104). The group also sold goods and services to R.Tincknell & Son Limited during the year amounting to £359,926 (2023: £472,163) including rent received of £30,277 (2023: £30,277).

At the year end R.Tincknell & Son Limited owed £33,390 (2023: £173,856) to Tincknell Fuels Limited.


Trinity Park Stud Ltd is an entity which shares a director with the Tincknell Fuels Limited.
The group sold goods during the year to Trinity Park Stud Ltd amounting to £3,202 (2023: £nil).


Middlefield Developments Ltd is an entity which shares a director with the Tincknell Fuels Limited.
The group sold goods during the year to Middlefield Developments Ltd amounting to £2,790 (2023: £458). At the year end Middlefield Developments Ltd owed £5,032 (2023: £1,684) to Tincknell Fuels Limited.

Other related parties

The group incurred interest charges during the year amounting to £7,497 (2023: £38,504) on unsecured loans from Mr PF Tincknell and Mrs JM Tincknell who are both directors of the company. Interest was payable at the rate of 7% per annum and the loans were repayable on demand. At the year end, the amounts due to Mr & Mrs Tincknell were £nil (2023: £535,465).

The group also incurred interest charges amounting to £91,050 (2023: £91,050) relating to the dividends owing at the year end to Mr PF Tincknell and Mrs JM Tincknell on 1,315,000 of £1 redeemable preference shares which are treated as loans to the group. Details of the preference shares are set out in Note 18 above.

25. ULTIMATE CONTROLLING PARTY

The controlling party is P F Tincknell.