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REGISTERED NUMBER: 04728846 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

REFINING DIRECT LIMITED

REFINING DIRECT LIMITED (REGISTERED NUMBER: 04728846)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REFINING DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr J Hargrave





SECRETARY: Ms N A Mullen





REGISTERED OFFICE: C/O Christian Douglass Accountants Ltd
2 Jordan Street
Knott Mill
Manchester
M15 4PY





REGISTERED NUMBER: 04728846 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

REFINING DIRECT LIMITED (REGISTERED NUMBER: 04728846)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 267,410 233,374

CURRENT ASSETS
Stocks 250,277 1,978,922
Debtors 5 1,521,510 1,814,782
Investments 6 907,776 -
Cash at bank and in hand 2,150,343 752,645
4,829,906 4,546,349
CREDITORS
Amounts falling due within one year 7 203,056 243,502
NET CURRENT ASSETS 4,626,850 4,302,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,894,260

4,536,221

PROVISIONS FOR LIABILITIES 34,507 25,162
NET ASSETS 4,859,753 4,511,059

CAPITAL AND RESERVES
Called up share capital 17 17
Retained earnings 4,859,736 4,511,042
SHAREHOLDERS' FUNDS 4,859,753 4,511,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 23 January 2025 and were signed by:





Mr J Hargrave - Director


REFINING DIRECT LIMITED (REGISTERED NUMBER: 04728846)

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

1. STATUTORY INFORMATION

Refining Direct Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04728846 and its registered office is at 2 Jordan Street, Knott Mill, Manchester, M15 4PY.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 33% on cost and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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 12 (2023 - 11 ) .

REFINING DIRECT LIMITED (REGISTERED NUMBER: 04728846)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 165,494 42,095 14,908 171,389 393,886
Additions - - - 114,757 114,757
Disposals - (27,617 ) (9,835 ) (116,732 ) (154,184 )
At 30 April 2024 165,494 14,478 5,073 169,414 354,459
DEPRECIATION
At 1 May 2023 32,800 27,078 11,580 89,054 160,512
Charge for year 3,310 2,291 499 25,164 31,264
Eliminated on disposal - (23,554 ) (8,632 ) (72,541 ) (104,727 )
At 30 April 2024 36,110 5,815 3,447 41,677 87,049
NET BOOK VALUE
At 30 April 2024 129,384 8,663 1,626 127,737 267,410
At 30 April 2023 132,694 15,017 3,328 82,335 233,374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 1,521,510 1,814,782

6. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Other 907,776 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 4,951 33,609
Taxation and social security 188,728 202,938
Other creditors 9,377 6,955
203,056 243,502

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mr J Hargrave
Balance outstanding at start of year 1,328,605 1,405,395
Amounts advanced 417,357 133,210
Amounts repaid (710,000 ) (210,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,035,962 1,328,605

REFINING DIRECT LIMITED (REGISTERED NUMBER: 04728846)

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

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Hargrave.