Registered number
03763082
Halso UK Fuels Ltd
Report and Accounts
30 June 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Halso UK Fuels Ltd
Registered number: 03763082
Balance Sheet
as at 30 June 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 672,290 540,649
Current assets
Stocks 392,616 410,607
Debtors 4 2,487,919 3,815,165
Cash at bank and in hand 118,855 302,403
2,999,390 4,528,175
Creditors: amounts falling due within one year 5 (1,765,904) (3,002,155)
Net current assets 1,233,486 1,526,020
Total assets less current liabilities 1,905,776 2,066,669
Creditors: amounts falling due after more than one year 6 (106,875) (124,371)
Provisions for liabilities (130,547) (69,500)
Net assets 1,668,354 1,872,798
Capital and reserves
Called up share capital 2,907 2,907
Profit and loss account 1,665,447 1,869,891
Shareholders' funds 1,668,354 1,872,798
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.
E Osborn-Wilkes
Director
Approved by the board on 5 September 2024
Halso UK Fuels Ltd
Notes to the Accounts
for the period from 31 December 2022 to 30 June 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.
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:
Property improvements 20% straight line
Fixtures & fitting 20% straight line
Motor vehicles 20% & 25% straight line
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.
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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 25 25
3 Tangible fixed assets
Property improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 December 2022 156,853 311,070 1,515,571 1,983,494
Additions - 26,560 658,341 684,901
Disposals - - (13,678) (13,678)
At 30 June 2024 156,853 337,630 2,160,234 2,654,717
Depreciation
At 31 December 2022 113,787 252,860 1,076,198 1,442,845
Charge for the period 43,066 33,978 476,216 553,260
On disposals - - (13,678) (13,678)
At 30 June 2024 156,853 286,838 1,538,736 1,982,427
Net book value
At 30 June 2024 - 50,792 621,498 672,290
At 30 December 2022 43,066 58,210 439,373 540,649
4 Debtors 2024 2022
£ £
Trade debtors 2,136,144 3,377,597
Amounts owed by group undertakings and undertakings in which the company has a participating interest 240,820 278,295
Other debtors 110,955 159,273
2,487,919 3,815,165
5 Creditors: amounts falling due within one year 2024 2022
£ £
Obligations under finance lease and hire purchase contracts 117,976 100,266
Trade creditors 1,426,446 2,591,517
Amounts owed to group undertakings and undertakings in which the company has a participating interest 71,705 -
Corporation tax 88,652 214,282
Other taxes and social security costs 18,884 26,825
Other creditors 42,241 69,265
1,765,904 3,002,155
6 Creditors: amounts falling due after one year 2024 2022
£ £
Obligations under finance lease and hire purchase contracts 106,875 124,371
7 Related party transactions
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 Controlling party
The company is a wholly owned subsidiary of Osborn Head Office Limited, a company incorporated in the UK.
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