Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr M Howell 24/05/2018 Mr A J Squire 25/03/2024 Mr D Yeoward 29/01/2024 24/05/2018 13 February 2025 The principal activity of the Company during the financial year was the supply of marine fuels. 04406939 2024-08-31 04406939 bus:Director1 2024-08-31 04406939 bus:Director2 2024-08-31 04406939 bus:Director3 2024-08-31 04406939 2023-08-31 04406939 core:CurrentFinancialInstruments 2024-08-31 04406939 core:CurrentFinancialInstruments 2023-08-31 04406939 core:ShareCapital 2024-08-31 04406939 core:ShareCapital 2023-08-31 04406939 core:RetainedEarningsAccumulatedLosses 2024-08-31 04406939 core:RetainedEarningsAccumulatedLosses 2023-08-31 04406939 core:PlantMachinery 2023-08-31 04406939 core:PlantMachinery 2024-08-31 04406939 bus:OrdinaryShareClass1 2024-08-31 04406939 bus:OrdinaryShareClass2 2024-08-31 04406939 2023-09-01 2024-08-31 04406939 bus:FilletedAccounts 2023-09-01 2024-08-31 04406939 bus:SmallEntities 2023-09-01 2024-08-31 04406939 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04406939 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04406939 bus:Director1 2023-09-01 2024-08-31 04406939 bus:Director2 2023-09-01 2024-08-31 04406939 bus:Director3 2023-09-01 2024-08-31 04406939 core:PlantMachinery 2023-09-01 2024-08-31 04406939 2022-09-01 2023-08-31 04406939 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04406939 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 04406939 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 04406939 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04406939 (England and Wales)

YEOWARD MARINE FUELS LIMITED

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

YEOWARD MARINE FUELS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

YEOWARD MARINE FUELS LIMITED

BALANCE SHEET

As at 31 August 2024
YEOWARD MARINE FUELS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 115,372 121,444
115,372 121,444
Current assets
Stocks 4 89,568 87,931
Debtors 5 90,132 102,642
Cash at bank and in hand 244,032 151,196
423,732 341,769
Creditors: amounts falling due within one year 6 ( 452,998) ( 339,677)
Net current (liabilities)/assets (29,266) 2,092
Total assets less current liabilities 86,106 123,536
Provision for liabilities ( 28,843) ( 30,361)
Net assets 57,263 93,175
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 57,163 93,075
Total shareholders' funds 57,263 93,175

For the financial year ending 31 August 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 Yeoward Marine Fuels Limited (registered number: 04406939) were approved and authorised for issue by the Board of Directors on 13 February 2025. They were signed on its behalf by:

Mr M Howell
Director
YEOWARD MARINE FUELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
YEOWARD MARINE FUELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Yeoward Marine Fuels 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 14 Island Street, Salcombe, TQ8 8DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 reducing balance basis over the assets expected useful life, as follows:

Plant and machinery 5 % reducing balance

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.

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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 September 2023 305,658 305,658
At 31 August 2024 305,658 305,658
Accumulated depreciation
At 01 September 2023 184,214 184,214
Charge for the financial year 6,072 6,072
At 31 August 2024 190,286 190,286
Net book value
At 31 August 2024 115,372 115,372
At 31 August 2023 121,444 121,444

4. Stocks

2024 2023
£ £
Stocks 89,568 87,931

5. Debtors

2024 2023
£ £
Trade debtors 73,599 81,258
Other debtors 16,533 21,384
90,132 102,642

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 294,878 73,910
Accruals 118,313 222,537
Other taxation and social security 39,553 42,664
Other creditors 254 566
452,998 339,677

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
24,500 Ordinary B shares of £ 0.001 each 24.50 24.50
75,500 Ordinary A shares of £ 0.001 each 75.50 75.50
100.00 100.00