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FIVE OAK GREEN SERVICE STATION LTD

Registered Number
03758418
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

FIVE OAK GREEN SERVICE STATION LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CHAPPLE, Caroline
CHAPPLE, Terry Malcolm

Company Secretary

CHAPPLE, Terry Malcolm

Registered Address

Five Oak Green Service Station
Five Oak Green Road, Five Oak
Green, Tonbridge
TN12 6RE

Registered Number

03758418 (England and Wales)
FIVE OAK GREEN SERVICE STATION LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets5389,513387,651
389,513387,651
Current assets
Debtors613,25632,488
Cash at bank and on hand68,51390,256
81,769122,744
Creditors amounts falling due within one year7(65,547)(64,148)
Net current assets (liabilities)16,22258,596
Total assets less current liabilities405,735446,247
Creditors amounts falling due after one year8(146,656)(246,656)
Provisions for liabilities(5,100)(5,100)
Net assets253,979194,491
Capital and reserves
Called up share capital100100
Profit and loss account253,879194,391
Shareholders' funds253,979194,491
The financial statements were approved and authorised for issue by the Board of Directors on 27 January 2025, and are signed on its behalf by:
CHAPPLE, Caroline
Director
CHAPPLE, Terry Malcolm
Director

Registered Company No. 03758418
FIVE OAK GREEN SERVICE STATION LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss over it's estimated economic life of 20 years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-100
Plant and machinery25-
Fixtures and fittings-10
Vehicles25-
Office Equipment25-
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.Staff Costs
Staff costs including directors remuneration, were as follows: Wages and salaries £109,862 (2023: 181,703) Social security costs £4,091 (2023: 11,873) Other pension costs £942 (2023: 2,230)
3.Average number of employees

20242023
Average number of employees during the year67
4.Intangible assets

Total

£
Cost or valuation
At 01 June 2357,967
At 31 May 2457,967
Amortisation and impairment
At 01 June 2357,967
At 31 May 2457,967
Net book value
At 31 May 24-
At 31 May 23-
5.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 23554,881
Additions16,194
Disposals(250)
At 31 May 24570,825
Depreciation and impairment
At 01 June 23167,230
Charge for year14,332
On disposals(250)
At 31 May 24181,312
Net book value
At 31 May 24389,513
At 31 May 23387,651
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,85625,226
Prepayments and accrued income3,4007,262
Total13,25632,488
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables41,47636,975
Taxation and social security22,87125,773
Accrued liabilities and deferred income1,2001,400
Total65,54764,148
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts146,656246,656
Total146,656246,656
9.Share capital
Allotted, called up and fully paid £100 (2023: £100)
10.Related party transactions
During the year under review, the company received net rent of £24,667 (2023: £37,000) from a company in which two of the directors have a material beneficial interest. The company also purchased services totalling £20,200 (2023: £29,500) from the same company, on a commercial basis. The company owed approximately £34,000 (2023: £13,000) to the same company at the balance sheet date.