2024
|
2023
|
||
£
|
£
|
||
Revenue
|
44,731,985
|
47,799,936
|
|
Gross Profit
|
4,337,285
|
5,290,257
|
|
Profit before taxation
|
1,755,612
|
2,647,352
|
|
|
|
||
|
|
Director
|
29 April 2025
|
|
|
|
Director
|
|
for and on behalf of
|
|
Building 2, The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ
|
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 5 |
|
|
|
Profit on disposal of fixed assets |
|
|
||
Other interest receivable and similar income | 10 |
|
|
|
Interest payable and similar charges | 11 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 12 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
2024 | 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 13 |
|
|
||
Tangible Assets | 14 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 15 |
|
|
||
Debtors | 16 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 17 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 18 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 20 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 9,498,491 | 8,378,846 | |||
Director
|
Director
|
Share Capital | Profit and Loss Account | Total | |
---|---|---|---|
£ | £ | £ | |
As at 1 August 2022 |
|
|
6,412,050 |
Profit for the year and total comprehensive income | - |
|
2,066,796 |
Dividends paid | - | (100,000) | (100,000) |
As at 31 July 2023 and 1 August 2023 |
|
|
8,378,846 |
Profit for the year and total comprehensive income | - |
|
1,219,645 |
Dividends paid | - | (100,000) | (100,000) |
As at 31 July 2024 |
|
|
9,498,491 |
2024 | 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of intangible assets |
( |
( |
||
Proceeds from disposal of intangible assets |
|
|
||
Purchase of tangible assets |
( |
( |
||
Proceeds from disposal of tangible assets |
|
|
||
Interest received |
|
|
||
Net cash used in investing activities |
( |
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
( |
( |
||
Proceeds from new other loans | - | 258,196 | ||
Repayment of other loans | (127,870) | - | ||
Amount introduced by directors | 36,384 | - | ||
Amount withdrawn by directors | - | (18,639) | ||
Net cash (used in)/generated from financing activities |
( |
|
||
(Decrease)/increase in cash and cash equivalents |
( |
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Interest income |
( |
( |
|
Amortisation of intangible assets |
|
|
|
Depreciation of tangible assets |
|
|
|
Profit on disposal of intangible assets | - | (7,747) | |
Profit on disposal of tangible assets | (4,895) | - | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
|
( |
|
Increase in trade and other debtors |
( |
( |
|
Decrease in trade and other creditors |
( |
( |
|
Net cash generated from operations |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 August 2023 | Cash flows | As at 31 July 2024 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(1,130,952) |
|
Debts falling due within one year |
( |
- |
( |
Debts falling due after more than one year | (258,196) | 127,870 | (130,326) |
5,172,573 | (1,003,082) | 4,169,491 | |
Freehold |
|
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
2024
|
2023
|
||
£
|
£
|
||
Oil Depot
|
40,859,556
|
43,708,908
|
|
Shop Sales
|
3,872,429
|
4,091,028
|
|
|
|
||
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Rental income |
|
|
|
Other operating income |
|
|
|
281,209 | 246,012 | ||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bad debts | 521 | (7,870) | |
Depreciation of tangible fixed assets |
|
|
|
Amortisation of intangible fixed assets |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank interest receivable |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Finance Charges |
|
|
|
109,068 | 127,600 | ||
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% | 21.0% |
|
|
|
Deferred Tax | |||||
Deferred taxation |
|
|
|||
Total tax charge for the period |
|
|
|||
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 | 1,755,611 | 2,647,352 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
|
|
|||
Research and Development tax credit |
|
( |
|||
Prior period adjustment |
|
|
|||
Total tax charge for the period | 535,966 | 580,556 | |||
Other | |||
---|---|---|---|
£ | |||
Cost | |||
As at 1 August 2023 |
|
||
Additions |
|
||
As at 31 July 2024 |
|
||
Amortisation | |||
As at 1 August 2023 |
|
||
Provided during the period |
|
||
As at 31 July 2024 |
|
||
Net Book Value | |||
As at 31 July 2024 |
|
||
As at 1 August 2023 |
|
||
Land & Property | |||||
---|---|---|---|---|---|
Freehold | Leasehold | Plant & Machinery | Motor Vehicles | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 August 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
|
|
( |
( |
As at 31 July 2024 |
|
|
|
|
|
Depreciation | |||||
As at 1 August 2023 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
Disposals |
|
|
|
( |
( |
As at 31 July 2024 |
|
|
|
|
|
Net Book Value | |||||
As at 31 July 2024 |
|
|
|
|
|
As at 1 August 2023 |
|
|
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Other debtors | 1,915,992 | 455,649 | |
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Trade creditors |
|
|
|
Other loans |
|
|
|
Other creditors | 181,377 | 81,567 | |
Corporation tax |
|
|
|
Taxation and social security | 17,406 | 20,554 | |
Accruals and deferred income |
|
|
|
|
|
||
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Other loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due within one year or on demand: | |||
Other loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due between one and five years: | |||
Other loans |
|
|
|
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
Accelerated capital allowances |
|
|
|
Other timing differences | - | 19,761 | |
|
|
||
Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 August 2023 |
|
396,057 |
Additions |
|
168,430 |
Balance at 31 July 2024 |
|
564,487 |
2024 | 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|
2024
|
2023
|
||
£
|
£
|
||
Purchases
|
413,721
|
421,291
|
|
Amount due from related party
|
624,056
|
188,897
|
|
|
|
||
|
|