Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mrs S Patel 16/10/2020 Mr S Patel 30/07/2010 27 January 2025 The principal activity of the Company during the financial year was property rental. 07331490 2024-07-31 07331490 bus:Director1 2024-07-31 07331490 bus:Director2 2024-07-31 07331490 2023-07-31 07331490 core:CurrentFinancialInstruments 2024-07-31 07331490 core:CurrentFinancialInstruments 2023-07-31 07331490 core:Non-currentFinancialInstruments 2024-07-31 07331490 core:Non-currentFinancialInstruments 2023-07-31 07331490 core:ShareCapital 2024-07-31 07331490 core:ShareCapital 2023-07-31 07331490 core:SharePremium 2024-07-31 07331490 core:SharePremium 2023-07-31 07331490 core:RetainedEarningsAccumulatedLosses 2024-07-31 07331490 core:RetainedEarningsAccumulatedLosses 2023-07-31 07331490 core:InvestmentPropertyIncludedWithinPPE 2023-07-31 07331490 core:InvestmentPropertyIncludedWithinPPE 2024-07-31 07331490 2023-08-01 2024-07-31 07331490 bus:FilletedAccounts 2023-08-01 2024-07-31 07331490 bus:SmallEntities 2023-08-01 2024-07-31 07331490 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07331490 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07331490 bus:Director1 2023-08-01 2024-07-31 07331490 bus:Director2 2023-08-01 2024-07-31 07331490 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 07331490 (England and Wales)

PARTINGTON SERVICE STATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

PARTINGTON SERVICE STATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

PARTINGTON SERVICE STATION LIMITED

BALANCE SHEET

As at 31 July 2024
PARTINGTON SERVICE STATION LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 750,000 750,000
750,000 750,000
Current assets
Cash at bank and in hand 9,104 4,465
9,104 4,465
Creditors: amounts falling due within one year 4 ( 126,722) ( 110,334)
Net current liabilities (117,618) (105,869)
Total assets less current liabilities 632,382 644,131
Creditors: amounts falling due after more than one year 5 ( 262,077) ( 283,712)
Provision for liabilities 6 ( 52,313) ( 52,313)
Net assets 317,992 308,106
Capital and reserves
Called-up share capital 1 1
Share premium account 33,686 33,686
Profit and loss account 284,305 274,419
Total shareholder's funds 317,992 308,106

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Partington Service Station Limited (registered number: 07331490) were approved and authorised for issue by the Board of Directors on 27 January 2025. They were signed on its behalf by:

Mrs S Patel
Director
PARTINGTON SERVICE STATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
PARTINGTON SERVICE STATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Partington Service Station Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1, 2 & 8 Sunnyside Business Park, Off Adelaide Street, Bolton, BL3 3NY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover represents income derived from properties occupied by tenants during the year. Income that is invoiced in advance or arrears is apportioned so that only that relating to the period of the financial statements is included in turnover.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Investment property Total
£ £
Cost/Valuation
At 01 August 2023 750,000 750,000
At 31 July 2024 750,000 750,000
Accumulated depreciation
At 01 August 2023 0 0
At 31 July 2024 0 0
Net book value
At 31 July 2024 750,000 750,000
At 31 July 2023 750,000 750,000

Revaluation of tangible assets

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 July 2021 by the director. The valuations were made on an open market value basis by reference to market evidence and industry experience.

If investment properties were stated at an historical cost basis rather than a fair value basis, the amounts would have been included as follows:

2024 2023
£ £
Historical cost 450,000 450,000
Carrying value 450,000 450,000

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 22,383 21,280
Trade creditors 58,009 50,509
Taxation and social security 25,496 17,821
Other creditors 20,834 20,724
126,722 110,334

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 262,077 283,712

6. Provision for liabilities

2024 2023
£ £
Deferred tax 52,313 52,313