Registered number
05197700
Savile Petroleum Limited
Filleted Accounts
31 May 2024
Savile Petroleum Limited
Registered number: 05197700
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 376,181 407,560
Current assets
Stocks 452,493 383,847
Debtors 4 4,679,629 3,969,414
Cash at bank and in hand 668,542 388,170
5,800,664 4,741,431
Creditors: amounts falling due within one year 5 (753,378) (751,290)
Net current assets 5,047,286 3,990,141
Total assets less current liabilities 5,423,467 4,397,701
Creditors: amounts falling due after more than one year 6 (504,142) (435,447)
Provisions for liabilities (20,082) (17,934)
Net assets 4,899,243 3,944,320
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,899,143 3,944,220
Shareholders' funds 4,899,243 3,944,320
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yasin Patel
Director
Approved by the board on 15 October 2024
Savile Petroleum Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 27
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 619,536 674,259 1,293,795
Additions - 48,604 48,604
At 31 May 2024 619,536 722,863 1,342,399
Depreciation
At 1 June 2023 287,925 598,310 886,235
Charge for the year 41,410 38,573 79,983
At 31 May 2024 329,335 636,883 966,218
Net book value
At 31 May 2024 290,201 85,980 376,181
At 31 May 2023 331,611 75,949 407,560
4 Debtors 2024 2023
£ £
Trade debtors 155,067 173,275
Other debtors 4,524,562 3,796,139
4,679,629 3,969,414
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 22,112
Trade creditors 336,529 241,830
Taxation and social security costs 408,016 480,068
Other creditors 8,833 7,280
753,378 751,290
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 504,142 435,447
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans - 22,112
The bank loan is secuired by way of a fixed and floating charge over all of the assets of the company.
8 Related party transactions
Other debtors include interest free loans to related companies totalling £4,524,042 (2023: £3,693,811).

The companies are related by way of common directors and shareholders.
9 Controlling party
The company is under the control of the directors who, together with close family members, own 100% of the issued share capital.
10 Other information
Savile Petroleum Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Headfield Road
Dewsbury
West Yorkshire
WF12 9JF
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