SPEED FUELS LTD

Company Registration Number:
13746248 (England and Wales)

Unaudited abridged accounts for the year ended 29 February 2024

Period of accounts

Start date: 01 March 2023

End date: 29 February 2024

SPEED FUELS LTD

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Notes

SPEED FUELS LTD

Balance sheet

As at 29 February 2024


Notes

2024

15 months to 28 February 2023


£

£
Fixed assets
Intangible assets: 3 400,000 400,000
Tangible assets: 4 1,122,292 1,146,248
Total fixed assets: 1,522,292 1,546,248
Current assets
Stocks: 100,000 94,500
Debtors:   7,334 24,748
Cash at bank and in hand: 113,435 52,812
Total current assets: 220,769 172,060
Creditors: amounts falling due within one year: 5 (321,361) (311,387)
Net current assets (liabilities): (100,592) (139,327)
Total assets less current liabilities: 1,421,700 1,406,921
Creditors: amounts falling due after more than one year: 6 (1,335,280) (1,387,802)
Total net assets (liabilities): 86,420 19,119
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 86,418 19,117
Shareholders funds: 86,420 19,119

The notes form part of these financial statements

SPEED FUELS LTD

Balance sheet statements

For the year ending 29 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: Thanalingam Iyinkaran
Status: Director

The notes form part of these financial statements

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

2. Employees

2024 15 months to 28 February 2023
Average number of employees during the period 4 2

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Intangible Assets

Total
Cost £
At 01 March 2023 400,000
At 29 February 2024 400,000
Net book value
At 29 February 2024 400,000
At 28 February 2023 400,000

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Tangible Assets

Total
Cost £
At 01 March 2023 1,150,702
Additions 10,161
At 29 February 2024 1,160,863
Depreciation
At 01 March 2023 4,454
Charge for year 34,117
At 29 February 2024 38,571
Net book value
At 29 February 2024 1,122,292
At 28 February 2023 1,146,248

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Creditors: amounts falling due within one year note

UK corporation tax 10,688 VAT 7,021 PAYE control 1,599 Salaries and wages control 2,640 Trade creditors 143,813 Other creditors 70,000 Accruals 600 Amounts due to group companies 85,000

SPEED FUELS LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

6. Creditors: amounts falling due after more than one year note

Finance Leases >1yr 755,256 Other creditors > 1yr 580,024