REGISTERED NUMBER: |
Feather Diesel Services Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
Feather Diesel Services Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
Feather Diesel Services Limited (Registered number: 00957030) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Feather Diesel Services Limited |
Company Information |
for the year ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Feather Diesel Services Limited (Registered number: 00957030) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Feather Diesel Services Limited (Registered number: 00957030) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Feather Diesel Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The amounts in the financial statements have been rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
On the 31 July 2021, the company transferred its trade and net assets to a fellow subsidiary. The company will be retained, and accordingly these accounts have been prepared on a going concern basis. All assets and liabilities were transferred at book value. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Feather Diesel Services Limited (Registered number: 00957030) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
4. | SECURED DEBTS |
The company's bankers hold a fixed and floating charge over all property and undertakings of the company. |
There is an unlimited multilateral guarantee dated 9 August 2018 between Merlin Diesel Holdings Limited, Merlin Diesel Systems Limited, Feather Diesel Holdings Limited and Feather Diesel Services Limited. |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | 1 | 1 | 1 |
On 29 November 2021 the company filed documentation for a share capital reduction at Companies House. This had the effect of reducing the issued share capital from £1,200 to £1 and eliminating the other reserves. |
On 16 March 2022 a cash dividend of £127,546 and a dividend in specie of £569,615 were declared. This had the effect of eliminating the retained profits. |
6. | RESERVES |
Retained |
earnings |
£ |
Profit for the year |
At 31 July 2024 |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102. 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,' not to disclose related party transactions with wholly owned subsidiaries within the group. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Merlin Diesel Holdings Limited, a company incorporated in England and Wales. |
The company is ultimately controlled jointly by LK Bramley and S Bramley, by virtue of their shareholding in the parent company. |
9. | TRANSFER OF TRADE AND ASSETS |
On the 31 July 2021 the trade and assets were transferred to Merlin Diesel Systems Limited. |