Registered number
03092512
Directfirm Limited
Report and Financial Statements
31 August 2024
Directfirm Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2-3
Strategic report 4
Independent auditor's report 5-7
Consolidated Income Statement 8
Income statement 9
Statement of comprehensive income 10
Consolidated Statement of financial position 11
Statement of financial position 12
Statement of changes in equity 13
Statement of cash flows 14
Notes to the financial statements 15-23
Detailed profit and loss account 24-25
Directfirm Limited
Company Information
Directors
N Kumar
Auditors
R Vora & Co Limited
6 Carlton Road
Romford
Essex
RM25AA
Bankers
National Westminster Bank
Peterborough Branch
Cathedral Square
Peterborough
PE1 1XH
Registered office
6 Carlton Road
Romford
Essex
RM2 5AA
Registered number
03092512
Directfirm Limited
Registered number: 03092512
Directors' Report
The directors present their report and financial statements for the year ended 31 August 2024.
Principal activities
The company's principal activity during the year continued to be that of operating petrol stations.
Future developments
The Company has recently completed the development at the Little Hampton site.
No other future developments are currently planned.
Loss FY24
The company incurred a loss in the current financial year, primarily due to a significantly higher depreciation charge resulting from the acquisition of substantial plant and equipment during the site redevelopment at Little Hampton. Furthermore, the site’s closure for five months of the financial year led to a substantial reduction in revenue, further impacting the company's overall performance.
Dividends
The directors recommend a final dividend of £141,068 (£148,922 - FY23) for the year ended 31 August 2024. This was paid up in the year ended 31 August 2024.
Events since the balance sheet date
There have been no material adjusting or non-adjusting events since the Balance Sheet date.
Directors
The following persons served as directors during the year:
N Kumar
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are 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. They are 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.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 19 March 2025 and signed on its behalf.
N Kumar
Director
Directfirm Limited
Strategic Report
The Directors present their Strategic report on the Company for the year ended 31 August 2024. This report should be read in conjunction with the Directors' report on pages 2 to 3.

Overview: The company is incorporated in the United Kingdom of Great Britain and Northern Ireland (UK) and conducts its operations of operating petrol filling stations and retailing consumable products.

Principal Activities: The principal activity of the company is that of operating petrol filling stations which make up the majority of the sales of the company.

Review of the Business: Despite a drop in revenue in the year owing to the temporary closure of one of the petrol filling sites for redevelopment, the company has achieved a positive EBITDA of £53,668.

Financial KPIs (Non-consolidated)
Gross Profit Margin - 2024 - 8.99% (2023 - 9.7%)
Net assets - 2024 - £6,148,683 (2023 - £6,370,801)
EBITDA - 2024 - £53,668 (2023 - £387,359)

Strategy: The company prices the fuel and its other products on a competitive basis in order to maximise revenue.

Risks and Uncertainties: The company is aware of relevant risks and uncertainties such as that of theft and drive-offs and has established appropriate policies and procedures in place to mitigate them to an acceptably low level.

Land and Buildings Revaluation: The land and buildings have not been revalued upwards pending the performance of the Little Hampton site. The volumes that were forecast in the Report by Avison Young (RICS) have now been reached and therefore the values will be in line with those forecast. A formal valuation will be carried out by a RICS registered surveyor to confirm the values at the next balance sheet date.
This report was approved by the board on 19 March 2025 and signed on its behalf.
N Kumar
Director
Directfirm Limited
Independent auditor's report
to the members of Directfirm Limited
Opinion
We have audited the financial statements of Directfirm Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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 directors' 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are 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. 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 course of 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.
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 the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ 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 directors’ 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 and returns; or
certain disclosures of directors’ 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 directors’ responsibilities statement, the directors are 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 directors 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 directors are 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.
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.
Our audit is considered capable of detecting irregularities, including fraud by;
- Considering and obtaining evidence that the entity has complied with known, relevant laws and regulations.
- Developing an understanding of the legal and regulatory framework in which the entity operates.
- Collecting evidence that the entity has complied with relevant regulatory framework.
- Assessing how the entity's financial statements may be susceptible to material fraud and factoring this into our audit approach.
- Developing an overall collective knowledge within the audit team of how instances of non-compliance with relevant laws and regulations can arise and how this can be identified.
- Investigating with informed management how they have developed controls to ensure fraud or irregularities are avoided and/or detected.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 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.
Rajendra Vora
(Senior Statutory Auditor) 6 Carlton Road
for and on behalf of
R Vora & Co Limited Romford
Statutory Auditor Essex
21 March 2025 RM25AA
Directfirm Limited
Consolidated Income Statement
for the year ended 31 August 2024
Notes 2024 2023
£ £
Turnover 2 8,366,886 10,625,306
Cost of sales (7,583,554) (9,570,108)
Gross profit 783,332 1,055,198
Administrative expenses (874,423) (765,162)
Other operating income 55,373 89,003
Operating (loss)/profit 3 (35,718) 379,039
Interest receivable 13,345 10,549
Interest payable 6 (56,465) (59,199)
(Loss)/profit on ordinary activities before taxation (78,838) 330,389
Tax on (loss)/profit on ordinary activities 7 (9,908) (55,558)
(Loss)/profit for the financial year (88,746) 274,831
Directfirm Limited
Income Statement
for the year ended 31 August 2024
Notes 2024 2023
£ £
Turnover 2 8,332,708 10,597,838
Cost of sales (7,583,554) (9,570,108)
Gross profit 749,154 1,027,730
Administrative expenses (865,191) (761,190)
Other operating income 55,373 89,003
Operating (loss)/profit 3 (60,664) 355,543
Interest receivable 13,345 10,549
Interest payable 6 (23,823) (33,094)
(Loss)/profit on ordinary activities before taxation (71,142) 332,998
Tax on (loss)/profit on ordinary activities 7 (9,908) (55,558)
(Loss)/profit for the financial year (81,050) 277,440
Directfirm Limited
Statement of Comprehensive Income
for the year ended 31 August 2024
Notes 2024 2023
£ £
(Loss)/profit for the financial year (81,050) 277,440
Other comprehensive income
Gain on revaluation of land and buildings 8 - 1,749,583
Total comprehensive income for the year (81,050) 2,027,023
Directfirm Limited
Consolidated Statement of Financial Position
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 8 8,043,417 6,626,357
Investments 9 - -
8,043,417 6,626,357
Current assets
Stocks 10 285,571 271,001
Debtors 11 395,888 155,788
Cash at bank and in hand 353,613 681,872
1,035,072 1,108,661
Creditors: amounts falling due within one year 12 (797,837) (576,527)
Net current assets 237,235 532,134
Total assets less current liabilities 8,280,652 7,158,491
Creditors: amounts falling due after more than one year 13 (2,007,953) (735,799)
Provisions for liabilities
Deferred taxation 15 (131,653) (51,833)
Net assets 6,141,046 6,370,859
Capital and reserves
Called up share capital 16 100 100
Other reserves 17 5,138,031 5,138,031
Profit and loss account 18 1,002,915 1,232,728
Total equity 6,141,046 6,370,859
N Kumar
Director
Approved by the board on 19 March 2025
Directfirm Limited
Statement of Financial Position
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 8 7,593,417 6,176,357
Investments 9 100 100
7,593,517 6,176,457
Current assets
Stocks 10 285,571 271,001
Debtors 11 395,888 155,788
Cash at bank and in hand 311,124 634,296
992,583 1,061,085
Creditors: amounts falling due within one year 12 (860,220) (624,218)
Net current assets 132,363 436,867
Total assets less current liabilities 7,725,880 6,613,324
Creditors: amounts falling due after more than one year 13 (1,445,543) (190,689)
Provisions for liabilities
Deferred taxation 15 (131,653) (51,833)
Net assets 6,148,684 6,370,802
Capital and reserves
Called up share capital 16 100 100
Other reserves 17 4,966,185 4,966,185
Profit and loss account 18 1,182,399 1,404,517
Total equity 6,148,684 6,370,802
N Kumar
Director
Approved by the board on 19 March 2025
Directfirm Limited
Statement of Changes in Equity
for the year ended 31 August 2024
Share Share Other Profit Total
capital premium reserves and loss
account
£ £ £ £ £
At 1 September 2022 100 - 3,216,602 1,275,999 4,492,701
Profit for the financial year - - - 277,440 277,440
Gain on revaluation of land and buildings 0 - 1,749,583 - 1,749,583
Other comprehensive income for the financial year - - 1,749,583 - 1,749,583
Total comprehensive income for the financial year - - 1,749,583 277,440 2,027,023
Dividends - - - (148,922) (148,922)
At 31 August 2023 100 - 4,966,185 1,404,517 6,370,802
At 1 September 2023 100 - 4,966,185 1,404,517 6,370,802
Loss for the financial year - - - (81,050) (81,050)
Dividends - - - (141,068) (141,068)
At 31 August 2024 100 - 4,966,185 1,182,399 6,148,684
Directfirm Limited
Statement of Cash Flows
for the year ended 31 August 2024
Notes 2024 2023
£ £
Operating activities
(Loss)/profit for the financial year (81,050) 277,440
Adjustments for:
Interest receivable (13,345) (10,549)
Interest payable 23,823 33,094
Tax on (loss)/profit on ordinary activities 9,908 55,558
Depreciation 114,332 31,817
(Increase)/decrease in stocks (14,570) 90,150
(Increase)/decrease in debtors (240,100) 6,123
Increase/(decrease) in creditors 277,439 (196,842)
76,437 286,791
Interest received 13,345 10,549
Interest paid (23,823) (33,094)
Corporation tax paid - (51,376)
Cash generated by operating activities 65,959 212,870
Investing activities
Payments to acquire tangible fixed assets (1,531,392) (39,088)
Cash used in investing activities (1,531,392) (39,088)
Financing activities
Equity dividends paid (141,068) (148,922)
Drawdown of loans 1,283,329 (44,504)
Cash generated by/(used in) financing activities 1,142,261 (193,426)
Net cash used
Cash generated by operating activities 65,959 212,870
Cash used in investing activities (1,531,392) (39,088)
Cash generated by/(used in) financing activities 1,142,261 (193,426)
Net cash used (323,172) (19,644)
Cash and cash equivalents at 1 September 634,296 653,940
Cash and cash equivalents at 31 August 311,124 634,296
Cash and cash equivalents comprise:
Cash at bank 311,124 634,296
Directfirm Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements 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.
Going concern
After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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:
Freehold buildings Revalued basis
Fixtures, fittings, tools and equipment 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Grants
Grants are recognised in the profit or loss, receivable in line with the expenditure with which they relate.
Group
2 Analysis of turnover 2024 2024 2023
£ £ £
Sale of goods 8,366,886 8,332,708 10,597,838
By geographical market:
UK 8,366,886 8,332,708 10,597,838
Group
3 Operating profit 2024 2024 2023
£ £ £
This is stated after charging:
Depreciation of owned fixed assets 114,332 114,332 31,817
Auditors' remuneration for audit services 12,000 12,000 12,000
Auditors' remuneration for other services - - 5,300
Key management personnel compensation (including directors' emoluments) 13,488 13,488 13,688
Carrying amount of stock sold 7,583,554 7,583,554 9,570,108
Group
2024
4 Directors' emoluments £ 2024 2023
£ £
Emoluments 13,300 13,300 13,500
Company contributions to defined contribution pension plans 188 188 188
13,488 13,488 13,688
Group
5 Staff costs 2024 2024 2023
£ £ £
Wages and salaries 414,067 414,067 419,745
Social security costs 25,039 25,039 25,810
Other pension costs 6,374 6,374 6,701
445,480 445,480 452,256
Group
Average number of employees during the year 2024 Number Number
Administration 22 22 21
22 22 21
Group
6 Interest payable 2024 2024 2023
£ £ £
Bank loans and overdrafts 30,720 22,568 32,965
Other loans 25,745 1,255 129
56,465 23,823 33,094
Group
7 Taxation 2024 2024 2023
£ £ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period - - 69,913
Adjustments in respect of previous periods (69,912) (69,912) -
(69,912) (69,912) 69,913
Deferred tax:
Origination and reversal of timing differences 79,820 79,820 (14,355)
Tax on profit on ordinary activities 9,908 9,908 55,558
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
Group
2024 2024 2023
£ £ £
(Loss)/profit on ordinary activities before tax (71,142) (71,142) 332,998
Standard rate of corporation tax in the UK
7 months of financial year 25% 25% 19%
5 months of financial year 25% 25% 25%
£ £ £
Profit on ordinary activities multiplied by the standard rate of corporation tax - - 71,644
Effects of:
Capital allowances for period in excess of depreciation 756,189 756,189 (1,731)
Utilisation of tax losses (324,949) (324,949) -
Tax losses carried forward (501,152) (501,152) -
Current tax charge for period (69,912) (69,912) 69,913
8 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Total
At cost At cost
£ £ £
Cost or valuation
At 1 September 2023 5,900,000 670,399 6,570,399
Additions 664,429 866,963 1,531,392
At 31 August 2024 6,564,429 1,537,362 8,101,791
Depreciation
At 1 September 2023 - 394,042 394,042
Charge for the year - 114,332 114,332
At 31 August 2024 - 508,374 508,374
Carrying amount
At 31 August 2024 6,564,429 1,028,988 7,593,417
At 31 August 2023 5,900,000 276,357 6,176,357
The land and buildings at Boongate and Little Hampton were valued at £8.97m by Avison Young (RICS), contingent upon successful completion of the redevelopment of the Little Hampton site. The site was operational from 1st August 2024 and hence an uplift in the values in the Balance Sheet is due. This has however been postponed to next year to ascertain that the volumes that were forecast are being achieved.
Group Land and buildings Group Fixtures, fittings, tools and equipment Group Total
At cost At cost
£ £ £
Cost or valuation
At 1 September 2023 6,350,000 670,399 7,020,399
Additions 664,429 866,963 1,531,392
Revaluation - - -
Transfers from investment property - - -
Disposals - - -
At 31 August 2024 7,014,429 1,537,362 8,551,791
Depreciation
At 1 September 2023 - 394,042 394,042
Charge for the year - 114,332 114,332
Revaluation - - -
Transfers from investment property - - -
On disposals - - -
At 31 August 2024 - 508,374 508,374
Carrying amount
At 31 August 2024 7,014,429 1,028,988 8,043,417
At 31 August 2023 6,350,000 276,357 6,626,357
9 Investments
Other
investments
£
Cost
At 1 September 2023 100
At 31 August 2024 100
Group
Total
£
Cost
At 1 September 2023 -
Additions -
Revaluation -
Disposals -
At 31 August 2024 -
The company holds 100% of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Westmoreland Management Company Limited Ordinary 100 (7,538) (7,696)
Group
10 Stocks 2024 2024 2023
£ £ £
Finished goods and goods for resale 285,571 285,571 271,001
Group
11 Debtors 2024 2024 2023
£ £ £
Trade debtors 95,044 95,044 24,223
Other taxes and social security costs 168,693 168,693 -
Other debtors 105,333 105,333 108,933
Prepayments and accrued income 26,818 26,818 22,632
395,888 395,888 155,788
Group
12 Creditors: amounts falling due within one year 2024 2024 2023
£ £ £
Bank loans 87,801 66,352 45,977
Trade creditors 471,946 471,946 238,929
Corporation tax - - 69,912
Other taxes and social security costs - - 22,967
Other creditors 54,930 138,762 140,277
Accruals and deferred income 183,160 183,160 106,156
797,837 860,220 624,218
Group
13 Creditors: amounts falling due after one year 2024 2024 2023
£ £ £
Bank loans 1,987,467 1,425,057 162,103
Other creditors 20,486 20,486 28,586
2,007,953 1,445,543 190,689
Group
14 Loans 2024 2024 2023
£ £ £
Loans not wholly repayable within five years:
NatWest Business Loan - Repayment amount of £12,311.44 per month, annual interest rate of 7.75%. Loan period of 15 years, repayments start 09/05/2025. 1,307,952 1,307,952 -
Analysis of maturity of debt:
Within one year or on demand 13,086 -
Between one and two years 55,299 -
Between two and five years 194,001 -
After five years 1,045,566 -
1,307,952 -
The bank loans are secured on the Company assets.
Group
15 Deferred taxation 2024 2024 2023
£ £ £
Accelerated capital allowances 131,653 131,653 51,833
Group
2024 2024 2023
£ £ £
At 1 September 51,833 51,833 66,188
Charged/(credited) to the profit and loss account 79,820 79,820 (14,355)
At 31 August 131,653 131,653 51,833
16 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
Group
17 Other reserves 2024 2024 2023
Revaluation reserve £ £ £
At 1 September 5,138,031 4,966,185 3,216,602
Gain on revaluation of land and buildings - - 1,749,583
At 31 August 5,138,031 4,966,185 4,966,185
Group
18 Profit and loss account 2024 2024 2023
£ £ £
At 1 September 1,232,729 1,404,517 1,275,999
(Loss)/profit for the financial year (88,746) (81,050) 277,440
Dividends (141,068) (141,068) (148,922)
At 31 August 1,002,915 1,182,399 1,404,517
Group
19 Dividends 2024 2024 2023
£ £ £
Dividends on ordinary shares (note 18) 141,068 141,068 148,922
20 Controlling party
Mr N Kumar is the controlling party owning 100% of the shares in the business
21 Presentation currency
The financial statements are presented in Sterling.
22 Legal form of entity and country of incorporation
Directfirm Limited is a private company limited by shares and incorporated in England.
23 Principal place of business
The address of the company's principal place of business is:
Boongate Service Station
St. Johns Street
Peterborough
PE1 5DD
and;
BP Littlehampton
23-25 London Rd
Yaxley
Peterborough
PE7 3NQ
The address of the company's registered office is:
6 Carlton Road
Romford
Essex
RM2 5AA
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