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REGISTERED NUMBER: 09607947 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 29 March 2024

for

City Fuel Services Limited

City Fuel Services Limited (Registered number: 09607947)

Contents of the Financial Statements
For The Year Ended 29 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


City Fuel Services Limited

Company Information
For The Year Ended 29 March 2024







DIRECTORS: M D Nairn
Mrs C Sinfield
Miss O C Cross





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 09607947 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

City Fuel Services Limited (Registered number: 09607947)

Balance Sheet
29 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,951 109,284

CURRENT ASSETS
Stocks 71,341 77,563
Debtors 5 629,350 927,371
Cash at bank and in hand 548,302 245,455
1,248,993 1,250,389
CREDITORS
Amounts falling due within one year 6 8,261,085 8,335,555
NET CURRENT LIABILITIES (7,012,092 ) (7,085,166 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,946,141

)

(6,975,882

)

CREDITORS
Amounts falling due after more than one
year

7

12,500

22,500
NET LIABILITIES (6,958,641 ) (6,998,382 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (6,958,642 ) (6,998,383 )
SHAREHOLDERS' FUNDS (6,958,641 ) (6,998,382 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

City Fuel Services Limited (Registered number: 09607947)

Balance Sheet - continued
29 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:




M D Nairn - Director



Miss O C Cross - Director


City Fuel Services Limited (Registered number: 09607947)

Notes to the Financial Statements
For The Year Ended 29 March 2024


1. STATUTORY INFORMATION

City Fuel Services 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 (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance and 10% on cost
Fixtures and fittings - Straight line over 4 years
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

City Fuel Services Limited (Registered number: 09607947)

Notes to the Financial Statements - continued
For The Year Ended 29 March 2024


2. ACCOUNTING POLICIES - continued

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

Cash and cash equivalents
Cash is represented by current accounts, 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.

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 Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 29 ) .

City Fuel Services Limited (Registered number: 09607947)

Notes to the Financial Statements - continued
For The Year Ended 29 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 30 March 2023 198,759 10,873 9,163 218,795
Additions 7,233 - - 7,233
Disposals (57,363 ) (7,929 ) (6,563 ) (71,855 )
At 29 March 2024 148,629 2,944 2,600 154,173
DEPRECIATION
At 30 March 2023 89,475 10,873 9,163 109,511
Charge for year 24,918 - - 24,918
Eliminated on disposal (31,715 ) (7,929 ) (6,563 ) (46,207 )
At 29 March 2024 82,678 2,944 2,600 88,222
NET BOOK VALUE
At 29 March 2024 65,951 - - 65,951
At 29 March 2023 109,284 - - 109,284

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 574,270 773,259
Other debtors 256 20,000
Prepayments 54,824 134,112
629,350 927,371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 476,203 454,732
Other loans 6,932,889 6,932,889
Trade creditors 191,454 345,805
Amounts owed to group undertakings 250 -
Tax 643 -
Social security and other taxes 23,727 37,006
VAT 99,365 83,737
Other creditors 164,432 166,918
Accrued expenses 372,122 314,468
8,261,085 8,335,555

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,500 12,500
12,500 22,500

City Fuel Services Limited (Registered number: 09607947)

Notes to the Financial Statements - continued
For The Year Ended 29 March 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1