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Registered number: SC392539
GHSL Ltd
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 31 March 2024
Khokhar McAdam Ltd
Chartered Accountants
1 Eagle Street
Glasgow
G4 9XA
Contents
Page
Strategic Report 1
Director's Report 2—3
Independent Auditor's Report 4—7
Profit and Loss Account 8
Statement of Comprehensive Income 9
Balance Sheet 10—11
Statement of Changes in Equity 12
Statement of Cash Flows 13
Notes to the Statement of Cash Flows 14
Notes to the Financial Statements 15—22
Page 1
Strategic Report
The director presents her strategic report for the year ended 31 March 2024.
Principal Activity
The company's principal activity of the company is petrol forecourts with retail outlets, online web sales and dessert bars.
Review of the Business
The company acheived a  profit before tax of £0.9m (2024), profit of £1.3m (2023). The company generates its revenue from the operation of its petrol stations, encompassing its retail elements, online web sales and dessert bar outlets within the United Kingdom. 
The company has continued to reinvest these profits within the business with the opening of new locations.  The net assets of the company increased from £6.8m (2024) to £6.1m (2023).
The company's key financial and other performance indicators during the year were as follows:
Financial KPIs
2024
2023
£
£
Sales
24,376
25,112
Gross Profit
7,800
7,761
Gross Profit %
33%
image
31%
image
Principal Risks and Uncertainties
The principle risks and uncertainties for GHSL business relate to:
Increased inflation and cost of living impact on the economy which could have further impacts on consumer attitude to spending.  Further increases in rising costs of goods, overheads, notably the rising cost of energy. Cyber-attacks and general threats to information security.
On behalf of the board
Mrs Shamly Sud
Director
13 December 2024
Page 1
Page 2
Director's Report
The director presents her report and the financial statements for the year ended 31 March 2024.
Directors
The director who held office during the year were as follows:
Mrs Shamly Sud
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing the financial statements the director is required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Director's Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 2
Page 3
Independent Auditors
The auditors, Khokhar McAdam Chartered Accountants, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mrs Shamly Sud
Director
13 December 2024
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of GHSL Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 4
Page 5
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Director's Responsibilities Statement set out on page 2—3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Page 5
Page 6
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud.
In identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and
non compliance with laws and regulations we considered the nature of the company and the industry and the
company's control environment.
We identified specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operation of the company such as the Companies Act 2006, taxation legislation,
employment laws and health and safety regulations.We assessed the extent of compliance with laws and
regulations identified through making inquiries of management and discussing their policies and procedures
regarding compliance with laws and regulations; inspecting correspondence, if any, with relevant licensing or
regulatory authorities.
We evaluated the directors and management's incentives and opportunities for fraudulent manipulation of the
financial statements, including the risk of management bias and override of controls.
Our audit procedures to respond to the risks identified included but not limited to the following:
• Performing analytical procedures to identify any unusual or unexpected relationships and testing
appropriateness of journal entries and other adjustments.
• Assessing whether judgements and assumptions made in determining accounting estimates were
indicative of potential bias; and evaluating business rationale of any significant transactions that are
unusual or outside the normal course of business.
• Evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.
• Evaluating the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.
• Obtaining sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the company to express an opinion on the financial statements. We are responsible for the
direction, supervision and performance of the company audit. We remain solely responsible for our audit
opinion.
There are inherent limitations in the audit procedures described above and the primary responsibility for the
prevention and detection of irregularities including fraud rests with management. As with any audit, there
remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions,
misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
Page 7
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Khurshid Khokhar (Senior Statutory Auditor)
for and on behalf of Khokhar McAdam Chartered Accountants , Statutory Auditor
13 December 2024
Page 7
Page 8
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 24,376,597 25,112,500
Cost of sales (16,575,624 ) (17,350,715 )
GROSS PROFIT 7,800,973 7,761,785
Administrative expenses (6,427,378 ) (6,174,617 )
Other operating income 62,047 24,532
OPERATING PROFIT 5 1,435,642 1,611,700
Interest payable and similar charges 10 (569,688 ) (341,895 )
PROFIT BEFORE TAXATION 865,954 1,269,805
Tax on Profit 11 (224,346 ) (231,411 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 641,608 1,038,394
The notes on pages 14 to 22 form part of these financial statements.
Page 8
Page 9
Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 641,608 1,038,394
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 641,608 1,038,394
Page 9
Page 10
Balance Sheet
Registered number: SC392539
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 11,680,086 11,651,732
11,680,086 11,651,732
CURRENT ASSETS
Stocks 14 2,275,779 2,580,045
Debtors 15 623,890 539,347
Cash at bank and in hand 188,585 54,276
3,088,254 3,173,668
Creditors: Amounts Falling Due Within One Year 16 (2,341,849 ) (2,541,983 )
NET CURRENT ASSETS (LIABILITIES) 746,405 631,685
TOTAL ASSETS LESS CURRENT LIABILITIES 12,426,491 12,283,417
Creditors: Amounts Falling Due After More Than One Year 17 (5,080,101 ) (5,416,546 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 20 (697,887 ) (712,483 )
NET ASSETS 6,648,503 6,154,388
CAPITAL AND RESERVES
Called up share capital 21 1,005 1,005
Revaluation reserve 919,194 919,194
Profit and Loss Account 5,728,304 5,234,189
SHAREHOLDERS' FUNDS 6,648,503 6,154,388
Page 10
Page 11
On behalf of the board
Mrs Shamly Sud
Director
13 December 2024
The notes on pages 14 to 22 form part of these financial statements.
Page 11
Page 12
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 April 2022 1,005 919,194 4,295,795 5,215,994
Profit for the year and total comprehensive income - - 1,038,394 1,038,394
Dividends paid - - (100,000) (100,000)
As at 31 March 2023 and 1 April 2023 1,005 919,194 5,234,189 6,154,388
Profit for the year and total comprehensive income - - 641,608 641,608
Dividends paid - - (147,493) (147,493)
As at 31 March 2024 1,005 919,194 5,728,304 6,648,503
Page 12
Page 13
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,911,358 2,594,662
Interest paid (569,688 ) (341,895 )
Tax refunded/(paid) 97,745 (351,824 )
Net cash generated from operating activities 1,439,415 1,900,943
Cash flows from investing activities
Purchase of tangible assets (632,667 ) (1,832,520 )
Ordinary Shares issued - 1,002
Net cash used in investing activities (632,667 ) (1,831,518 )
Cash flows from financing activities
Equity dividends paid (147,493 ) (100,000 )
Proceeds from new bank borrowings - 1,877,412
Repayment of bank borrowings (195,437 ) -
Repayment of finance leases (348,674 ) (6,707 )
Amount introduced by directors 20,465 -
Amount withdrawn by directors - (6,291)
Net cash (used in)/generated from financing activities (671,139 ) 1,764,414
Increase in cash and cash equivalents 135,609 1,833,839
Cash and cash equivalents at beginning of year 2 52,969 (1,780,870 )
Cash and cash equivalents at end of year 2 188,578 52,969
Page 13
Page 14
Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 641,608 1,038,394
Adjustments for:
Tax on profit 224,346 231,411
Interest expense 569,688 341,895
Depreciation of tangible assets 604,313 613,080
Movements in working capital:
Decrease in stocks 304,266 126,238
(Increase)/decrease in trade and other debtors (84,543 ) 169,347
(Decrease)/increase in trade and other creditors (348,320 ) 74,297
Net cash generated from operations 1,911,358 2,594,662
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 188,585 54,276
Overdraft facilities repayable on demand (6 ) (1,307 )
Cash and cash equivalents as stated in the Statement of Cash Flows 188,579 52,969
3. Analysis of changes in net debt
As at 1 April 2023 Cash flows As at 31 March 2024
£ £ £
Cash at bank and in hand 54,276 134,309 188,585
Overdraft facilities repayable on demand (1,307) 1,300 (7)
Cash and cash equivalents 52,969 135,609 188,578
Finance leases (2,895,462) 348,674 (2,546,788)
Debts falling due within one year (444,163 ) 195,437 (248,726 )
Debts falling due after more than one year (3,480,204) - (3,480,204)
(6,766,860) 679,720 (6,087,140)
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Notes to the Financial Statements
1. General Information
GHSL Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC392539 . The registered office is 30 Underwood Road, Paisley, PA3 1TL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
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 profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2%
Leasehold -
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 15%
Computer Equipment 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks 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 is determined using the first-in, first-out method. 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.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Turnover
Analysis of turnover by class of business is as follows:
2024 2023
£ £
Commissions 126,434 72,385
Fuel 8,200,899 8,441,105
Online 2,883,705 4,926,466
Retail 13,165,559 11,672,544
24,376,597 25,112,500
4. Other Operating Income
2024 2023
£ £
Other operating income 62,047 24,532
62,047 24,532
5. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 604,313 613,080
6. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 24,500 24,500
7. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 59,624 100,207
Social security costs 479 -
Other pension costs 3,473 12,923
63,576 113,130
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8. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 6 6
6 6
9. Director's remuneration
2024 2023
£ £
Emoluments 12,023 5,000
Company contributions to money purchase pension schemes - 7,200
12,023 12,200
10. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 383,044 202,905
Finance charges payable under finance leases and hire purchase contracts 186,644 138,990
569,688 341,895
11. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 19.0% 238,942 120,883
Deferred Tax
Deferred taxation (14,596 ) 110,528
Total tax charge for the period 224,346 231,411
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 865,954 1,269,805
Tax on profit at 25% (UK standard rate) 216,543 241,263
Goodwill/depreciation not allowed for tax 151,078 116,485
...CONTINUED
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Expenses not deductible for tax purposes 47 -
Tax losses utilised 53,818 (21,209 )
Capital allowances (182,544 ) -
Short term timing differences - 5,400
Deferred tax from unrecognised tax loss or credit (14,596 ) (110,528 )
Total tax charge for the period 224,346 231,411
12. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 59,360
As at 31 March 2024 59,360
Amortisation
As at 1 April 2023 59,360
As at 31 March 2024 59,360
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
13. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 7,963,840 4,687 185,170 4,986,957 13,140,654
Additions 39,962 - - 592,705 632,667
As at 31 March 2024 8,003,802 4,687 185,170 5,579,662 13,773,321
Depreciation
As at 1 April 2023 302,020 - 66,480 1,120,422 1,488,922
Provided during the period 159,278 - 41,841 403,194 604,313
As at 31 March 2024 461,298 - 108,321 1,523,616 2,093,235
Net Book Value
As at 31 March 2024 7,542,504 4,687 76,849 4,056,046 11,680,086
As at 1 April 2023 7,661,820 4,687 118,690 3,866,535 11,651,732
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14. Stocks
2024 2023
£ £
Stock - fuel 212,452 218,478
Stock - shop 2,063,327 2,361,567
2,275,779 2,580,045
15. Debtors
2024 2023
£ £
Due within one year
Trade debtors 497,160 390,105
Other debtors 125,830 149,242
622,990 539,347
Due after more than one year
Other debtors 900 -
623,890 539,347
16. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 946,891 959,120
Trade creditors 606,357 836,225
Bank loans and overdrafts 248,733 445,470
Other creditors 268,635 245,722
Corporation tax 185,124 (151,563 )
Taxation and social security 86,109 164,704
Accruals and deferred income - 42,305
2,341,849 2,541,983
17. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,599,897 1,936,342
Bank loans 3,480,204 3,480,204
5,080,101 5,416,546
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18. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 248,726 444,163
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 3,480,204 3,480,204
19. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 946,891 959,120
Later than one year and not later than five years 1,599,897 1,936,342
2,546,788 2,895,462
2,546,788 2,895,462
20. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 697,887 712,483
21. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,002 Ordinary A shares of £ 1 each 1,002 1,002
1 Ordinary B shares of £ 1 each 1 1
1 Ordinary C shares of £ 1 each 1 1
1 Ordinary D shares of £ 1 each 1 1
1,005 1,005
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22. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £3,473 (2023: £12,923).
At the balance sheet date contributions of £295 were due to the fund and are included in creditors.
23. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 147,493 100,000
24. Related Party Disclosures
Included in debtors is a sum of £102,123 (2023-£204,767) due from RT Autoport Ltd, a company in which the directors connected party has material interest as a shareholder and director.  Included in debtors is a sum of £32,521 (2023-£19,680) due from Tiana Holdings Ltd, a company in which the director has a material interest as a shareholder and director.
Included in creditors are amounts due for the following companies in which the directors have a material interest as shareholders or directors.
During the year the company was issued management fees of £2,896,934 (2023-£2,185,319) from companies in which the director has material interest as shareholder or directors. Included in other creditors in an amount of £264,841 (2023-£244,373) due to the director. Total remuneration paid to key management personnel in the period was £59,624 (2023-£107,407). 
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