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Company Registration No. 11957465 (England and Wales)
Fuel Hub Ltd Unaudited accounts for the year ended 30 April 2024
Fuel Hub Ltd Unaudited accounts Contents
Page
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Fuel Hub Ltd Company Information for the year ended 30 April 2024
Directors
Michelle Laithwaite James Laithwaite Richard Marcus Radcliffe
Company Number
11957465 (England and Wales)
Registered Office
252 - 253 Europa Trade Park Europa Boulevard Warrington Cheshire WA5 7TN England
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Fuel Hub Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
75,311 
90,847 
Tangible assets
244,700 
241,854 
320,011 
332,701 
Current assets
Inventories
39,082 
29,686 
Debtors
457,698 
295,410 
Cash at bank and in hand
231,656 
137,518 
728,436 
462,614 
Creditors: amounts falling due within one year
(312,852)
(141,795)
Net current assets
415,584 
320,819 
Total assets less current liabilities
735,595 
653,520 
Creditors: amounts falling due after more than one year
(1,031,930)
(673,871)
Net liabilities
(296,335)
(20,351)
Capital and reserves
Called up share capital
230,003 
3 
Share premium
474,998 
474,998 
Profit and loss account
(1,001,336)
(495,352)
Shareholders' funds
(296,335)
(20,351)
For the year ending 30 April 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
Michelle Laithwaite Director Company Registration No. 11957465
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Fuel Hub Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Fuel Hub Ltd is a private company, limited by shares, registered in England and Wales, registration number 11957465. The registered office is 252 - 253 Europa Trade Park, Europa Boulevard, Warrington, Cheshire, WA5 7TN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Expenditure included under land and buildings relates solely to leasehold improvements. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight line
Plant & machinery
10% - 33% Straight line
Motor vehicles
25% Reducing balance
Fixtures & fittings
33% Straight line
Computer equipment
33% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be reliably measured.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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Fuel Hub Ltd Notes to the Accounts for the year ended 30 April 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The financial statements have been prepared on the going concern basis. The directors are of the opinion that they will continue to have the support of shareholders, and will provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.
Share capital
Called-up share capital represents the nominal value of shares that have been issued. Ordinary shares carry rights to voting, dividends or other distribution declared and is entitled to a distribution on a winding up, sale or other exit event. During the year the company issued 230,000 preference shares with a nominal value of £1.00 to the existing shareholders. These shares are non-redeemable and do not carry rights to voting or dividends. Accordingly, they are classified as equity in accordance with FRS 102 Section 1A.
Share premium
The share premium reserve contains the premium arising on issue of equity shares.
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Fuel Hub Ltd Notes to the Accounts for the year ended 30 April 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 May 2023
96,865 
Additions
5,004 
At 30 April 2024
101,869 
Amortisation
At 1 May 2023
6,018 
Charge for the year
20,540 
At 30 April 2024
26,558 
Net book value
At 30 April 2024
75,311 
At 30 April 2023
90,847 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
58,906 
198,123 
13,917 
9,884 
6,776 
287,606 
Additions
4,990 
25,082 
31,995 
1,494 
11,182 
74,743 
Revaluations
- 
- 
(13,917)
- 
- 
(13,917)
At 30 April 2024
63,896 
223,205 
31,995 
11,378 
17,958 
348,432 
Depreciation
At 1 May 2023
5,703 
24,685 
8,046 
4,698 
2,620 
45,752 
Charge for the year
19,917 
32,547 
6,611 
2,883 
4,680 
66,638 
On disposals
- 
- 
(8,658)
- 
- 
(8,658)
At 30 April 2024
25,620 
57,232 
5,999 
7,581 
7,300 
103,732 
Net book value
At 30 April 2024
38,276 
165,973 
25,996 
3,797 
10,658 
244,700 
At 30 April 2023
53,203 
173,438 
5,871 
5,186 
4,156 
241,854 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
15,930 
27,745 
Trade debtors
32,703 
42,685 
Deferred tax asset
342,137 
172,326 
Accrued income and prepayments
51,556 
46,110 
Other debtors
15,372 
6,544 
457,698 
295,410 
- 7 -
Fuel Hub Ltd Notes to the Accounts for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,166 
3,165 
Obligations under finance leases and hire purchase contracts
12,395 
3,431 
Trade creditors
226,565 
66,701 
Taxes and social security
10,404 
8,609 
Other creditors
25,778 
21,282 
Accruals
33,909 
38,607 
Deferred income
635 
- 
312,852 
141,795 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,097 
19,263 
Obligations under finance leases and hire purchase contracts
15,833 
4,608 
Other creditors
1,000,000 
650,000 
1,031,930 
673,871 
Aggregate of amounts that fall due for payment after five years
3,431 
6,598 
Creditors falling due after more than one year of £950,000 (2023: £600,000), are secured by a fixed and floating charge over the Company's fixed and current assets. Bank loans falling due after 5 years of £3,431 (2023: £6,598) are unsecured.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
320 Ordinary shares of £0.01 each
3.20 
3.20 
230,000 Preference shares of £1 each
230,000.00 
- 
230,003.20 
3.20 
Shares issued during the period:
230,000 Preference shares of £1 each
230,000 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
106,289 
100,586 
Later than one year and not later than five years
194,248 
261,448 
300,537 
362,034 
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Fuel Hub Ltd Notes to the Accounts for the year ended 30 April 2024
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Michelle Laithwaite
Directors' Loan Account
1,845 
2,670 
967 
3,548 
James Laithwaite
Directors' Loan Account
1,845 
2,670 
967 
3,548 
3,690 
5,340 
1,934 
7,096 
The above loans are unsecured, interest free and repayable on demand.
12
Average number of employees
During the year the average number of employees was 22 (2023: 16).
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