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REGISTERED NUMBER: 04625575 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Owens Fuels Limited

Owens Fuels Limited (Registered number: 04625575)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Owens Fuels Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S A G Owen
G G M Owen
S M Owen
J W Owen
A M Owen
J S Owen
G M Owen





SECRETARY: G G M Owen





REGISTERED OFFICE: The Wharf House
Pant
Oswestry
Shropshire
SY10 9QL





REGISTERED NUMBER: 04625575 (England and Wales)





ACCOUNTANTS: Elliott and Company
1A Station Buildings
Station Road
Gobowen
Oswestry
Shropshire
SY11 3JS

Owens Fuels Limited (Registered number: 04625575)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,217 24,425
Tangible assets 5 505,013 454,760
Investment property 6 754,814 754,814
1,272,044 1,233,999

CURRENT ASSETS
Stocks 126,352 122,652
Debtors 7 383,162 479,599
Cash in hand 2,325,793 2,742,819
2,835,307 3,345,070
CREDITORS
Amounts falling due within one year 8 266,265 813,795
NET CURRENT ASSETS 2,569,042 2,531,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,841,086

3,765,274

CREDITORS
Amounts falling due after more than one
year

9

(303,018

)

(251,758

)

PROVISIONS FOR LIABILITIES 10 (126,250 ) (86,401 )
NET ASSETS 3,411,818 3,427,115

CAPITAL AND RESERVES
Called up share capital 60 60
Retained earnings 3,411,758 3,427,055
SHAREHOLDERS' FUNDS 3,411,818 3,427,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Owens Fuels Limited (Registered number: 04625575)

Balance Sheet - continued
31 March 2024


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 13 November 2024 and were signed on its behalf by:





G G M Owen - Director


Owens Fuels Limited (Registered number: 04625575)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Owens Fuels 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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

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 16 (2023 - 14 ) .

Owens Fuels Limited (Registered number: 04625575)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 244,169
AMORTISATION
At 1 April 2023 219,744
Amortisation for year 12,208
At 31 March 2024 231,952
NET BOOK VALUE
At 31 March 2024 12,217
At 31 March 2023 24,425

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 251,537 958,199 12,374 1,222,110
Additions 96,722 93,203 - 189,925
At 31 March 2024 348,259 1,051,402 12,374 1,412,035
DEPRECIATION
At 1 April 2023 133,303 621,685 12,362 767,350
Charge for year 32,242 107,430 - 139,672
At 31 March 2024 165,545 729,115 12,362 907,022
NET BOOK VALUE
At 31 March 2024 182,714 322,287 12 505,013
At 31 March 2023 118,234 336,514 12 454,760

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 754,814
NET BOOK VALUE
At 31 March 2024 754,814
At 31 March 2023 754,814

The freehold investment properties were acquired on 2 May 2013 and 3 August 2022.

Owens Fuels Limited (Registered number: 04625575)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 246,019 238,632
Other debtors 137,143 240,967
383,162 479,599

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 185,799 734,358
Taxation and social security 73,266 72,367
Other creditors 7,200 7,070
266,265 813,795

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 303,018 251,758

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 126,250 86,401

Deferred
tax
£   
Balance at 1 April 2023 86,401
Charge for the year 39,849
Balance at 31 March 2024 126,250

Owens Fuels Limited

Report of the Accountants to the Directors of
Owens Fuels Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Elliott and Company
1A Station Buildings
Station Road
Gobowen
Oswestry
Shropshire
SY11 3JS


13 November 2024