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Registered number: NI028901
G. P. Marketing Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—6
Statement of Comprehensive Income 7
Balance Sheet 8
Statement of Changes in Equity 9
Statement of Cash Flows 10
Notes to the Statement of Cash Flows 11
Notes to the Financial Statements 12—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 July 2024.
Review of the Business
The company performed as expected during the year given the prevailing economic conditions. TThe results for the year are set out in the stateemnt of comprehensive income and show a profit before tax of £1,755,612.
The fuel market continues to be extremely price competitive. The directors consider that the year-end financial position was satisfactory and that the company is well placed to develop its activities in the foreseeable future.
Given the straight forward nature of the business, the directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of the development, performance or position of the business.
Principal Risks and Uncertainties
The Company directors use the Key performance indicators as set out in the table below to monitor the company
performance;
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
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Financial risk management objectives and policies
The company's operations expose it to financial risks that include the effects of changes in market prices, credit risk and liquidity risk The company has in place a risk management programme to monitor its exposure to financial risk. The directors have the responsibility of monitoring financial risk and the policies set by the directors are implemented by the company's finance department.
Price Risk
The company is exposed to commodity price risk as a result of its operations. However, given the size of the company's operations, the costs of managing the exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.
Credit Risk
The company has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reviewed regularly by the director and the utilisation of insurance on debtor balances.
On behalf of the board
Mr G R Patterson
Director
29 April 2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 July 2024.
Principal Activity
The company's principal activity continues to be that of oil distribution and operating a convenience store and filling station.
Dividends
The value of dividends paid amounted to £100,000 .
The directors recommended a final dividend of £NIL .
Directors
The directors who held office during the year were as follows:
Mr G R Patterson
Mrs E S Patterson
Mr G P Patterson
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the 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 (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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.
The directors are 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 Directors' 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, KGA Accountants LLP, 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
Mr G R Patterson
Director
29 April 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of G. P. Marketing Limited for the year ended 31 July 2024 which comprise the 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 July 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 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 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 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. 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.
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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
Page 4
Page 5
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 or 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 set out on page 2—3, 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, environmental regulations and health and safety laws, together with the provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We tailored our response to those identified risks to include enquiring of management concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with tax authorities and other regulatory bodies.
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. We design and perform audit procedures responsive to those risks including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with Laws and Regulations, we considered the following :
• The nature of the industry and sector, control environment and business performance including the companies remuneration policies, and performance targets.
• Results of our enquiries of management and other key persons about the groups own identification and assessment of the risks of irregularities , including those that may occur a as result of fraud and error, and matters we identified from the groups policies and procedures and internal controls and
• The matters discussed among the audit team regarding potential indicators of fraud and where it might occur in the financial statements.
In addressing the risk of fraud through management override of controls we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 5
Page 6
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.
Eunan Kerlin (Senior Statutory Auditor)
for and on behalf of KGA Accountants LLP , Statutory Auditor
29 April 2025
KGA Accountants LLP
Building 2, The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ
Page 6
Page 7
Statement of Comprehensive Income
2024 2023
Notes £ £
TURNOVER 3 44,731,985 47,799,936
Cost of sales (40,394,700 ) (42,509,679 )
GROSS PROFIT 4,337,285 5,290,257
Administrative expenses (2,944,116 ) (2,790,570 )
Other operating income 281,209 246,012
OPERATING PROFIT 5 1,674,378 2,745,699
Profit on disposal of fixed assets 4,895 7,747
Other interest receivable and similar income 10 185,406 21,506
Interest payable and similar charges 11 (109,068 ) (127,600 )
PROFIT BEFORE TAXATION 1,755,611 2,647,352
Tax on Profit 12 (535,966 ) (580,556 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,219,645 2,066,796
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,219,645 2,066,796
The notes on pages 11 to 18 form part of these financial statements.
Page 7
Page 8
Balance Sheet
Registered number: NI028901
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 13 145,391 65,663
Tangible Assets 14 4,469,504 4,075,049
4,614,895 4,140,712
CURRENT ASSETS
Stocks 15 540,505 689,846
Debtors 16 2,815,865 1,309,320
Cash at bank and in hand 4,427,686 5,558,638
7,784,056 7,557,804
Creditors: Amounts Falling Due Within One Year 17 (2,205,647 ) (2,665,417 )
NET CURRENT ASSETS (LIABILITIES) 5,578,409 4,892,387
TOTAL ASSETS LESS CURRENT LIABILITIES 10,193,304 9,033,099
Creditors: Amounts Falling Due After More Than One Year 18 (130,326 ) (258,196 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 20 (564,487 ) (396,057 )
NET ASSETS 9,498,491 8,378,846
CAPITAL AND RESERVES
Called up share capital 22 2 2
Profit and Loss Account 9,498,489 8,378,844
SHAREHOLDERS' FUNDS 9,498,491 8,378,846
The financial statements were approved by the board of directors on 29 April 2025 and were signed on its behalf by:
Mr G R Patterson
Director
Mr G P Patterson
Director
29 April 2025
The notes on pages 11 to 18 form part of these financial statements.
Page 8
Page 9
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2022 2 6,412,048 6,412,050
Profit for the year and total comprehensive income - 2,066,796 2,066,796
Dividends paid - (100,000) (100,000)
As at 31 July 2023 and 1 August 2023 2 8,378,844 8,378,846
Profit for the year and total comprehensive income - 1,219,645 1,219,645
Dividends paid - (100,000) (100,000)
As at 31 July 2024 2 9,498,489 9,498,491
Page 9
Page 10
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 503,685 2,510,083
Interest paid (109,068 ) (127,600 )
Tax paid (388,885 ) (513,000 )
Net cash generated from operating activities 5,732 1,869,483
Cash flows from investing activities
Purchase of intangible assets (93,576 ) (65,663 )
Proceeds from disposal of intangible assets - 7,747
Purchase of tangible assets (1,076,028 ) (1,229,738 )
Proceeds from disposal of tangible assets 39,000 26,753
Interest received 185,406 21,506
Net cash used in investing activities (945,198 ) (1,239,395 )
Cash flows from financing activities
Equity dividends paid (100,000 ) (100,000 )
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 (191,486 ) 139,557
(Decrease)/increase in cash and cash equivalents (1,130,952 ) 769,645
Cash and cash equivalents at beginning of year 2 5,558,638 4,788,993
Cash and cash equivalents at end of year 2 4,427,686 5,558,638
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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 1,219,645 2,066,796
Adjustments for:
Tax on profit 535,966 580,556
Interest expense 109,068 127,600
Interest income (185,406 ) (21,506 )
Amortisation of intangible assets 13,848 -
Depreciation of tangible assets 647,468 431,566
Profit on disposal of intangible assets - (7,747)
Profit on disposal of tangible assets (4,895) -
Movements in working capital:
Decrease/(increase) in stocks 149,341 (82,783 )
Increase in trade and other debtors (1,506,545 ) (353,418 )
Decrease in trade and other creditors (474,805 ) (230,981 )
Net cash generated from operations 503,685 2,510,083
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 4,427,686 5,558,638
3. Analysis of changes in net funds
As at 1 August 2023 Cash flows As at 31 July 2024
£ £ £
Cash at bank and in hand 5,558,638 (1,130,952) 4,427,686
Debts falling due within one year (127,869 ) - (127,869 )
Debts falling due after more than one year (258,196) 127,870 (130,326)
5,172,573 (1,003,082) 4,169,491
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Notes to the Financial Statements
1. General Information
G. P. Marketing Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI028901 . The registered office is Building 2, The Sidings, Antrim Road, Lisburn, Co. Antrim, BT28 3AJ.
The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest £.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.  This is usually on dispatch of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software developement. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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% on cost
Leasehold 10% on cost
Plant & Machinery 20% on reducing balance
Motor Vehicles 20% on reducing balance
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Turnover
The turnover and profit before taxation are attributable to the principal activity of the company. 
An analysis of turnover by class of business is given below: 
2024
2023
£
£
Oil Depot
40,859,556
43,708,908
Shop Sales
3,872,429
4,091,028
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4. Other Operating Income
2024 2023
£ £
Rental income 54,450 51,980
Other operating income 226,759 194,032
281,209 246,012
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5. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 521 (7,870)
Depreciation of tangible fixed assets 647,468 431,566
Amortisation of intangible fixed assets 13,848 -
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 9,500 7,500
7. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,336,721 1,249,773
Social security costs 141,414 69,639
Other pension costs 65,358 77,689
1,543,493 1,397,101
8. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2023: 43)
45 43
9. Directors' remuneration
2024 2023
£ £
Emoluments 100,770 100,140
Company contributions to money purchase pension schemes 62,500 63,815
163,270 163,955
10. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 185,406 21,506
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11. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 13,597 16,776
Finance Charges 95,471 110,824
109,068 127,600
12. 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% 21.0% 367,536 391,378
Deferred Tax
Deferred taxation 168,430 189,178
Total tax charge for the period 535,966 580,556
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) 443,820 556,209
Capital allowances (71,366 ) (167,739 )
Short term timing differences 163,512 189,178
Research and Development tax credit - (42,322 )
Prior period adjustment - 45,230
Total tax charge for the period 535,966 580,556
13. Intangible Assets
Other
£
Cost
As at 1 August 2023 65,663
Additions 93,576
As at 31 July 2024 159,239
Amortisation
As at 1 August 2023 -
Provided during the period 13,848
As at 31 July 2024 13,848
...CONTINUED
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Net Book Value
As at 31 July 2024 145,391
As at 1 August 2023 65,663
14. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 August 2023 1,602,447 1,818,802 979,370 1,667,344 6,067,963
Additions 32,252 - 14,951 1,028,825 1,076,028
Disposals - - - (123,581 ) (123,581 )
As at 31 July 2024 1,634,699 1,818,802 994,321 2,572,588 7,020,410
Depreciation
As at 1 August 2023 125,959 840,979 655,536 370,440 1,992,914
Provided during the period 11,241 172,336 66,698 397,193 647,468
Disposals - - - (89,476 ) (89,476 )
As at 31 July 2024 137,200 1,013,315 722,234 678,157 2,550,906
Net Book Value
As at 31 July 2024 1,497,499 805,487 272,087 1,894,431 4,469,504
As at 1 August 2023 1,476,488 977,823 323,834 1,296,904 4,075,049
15. Stocks
2024 2023
£ £
Stock 540,505 689,846
16. Debtors
2024 2023
£ £
Due within one year
Trade debtors 899,873 853,671
Other debtors 1,915,992 455,649
2,815,865 1,309,320
17. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,502,241 1,812,015
Other loans 127,869 127,869
Other creditors 181,377 81,567
Corporation tax 369,254 390,603
Taxation and social security 17,406 20,554
Accruals and deferred income 7,500 232,809
2,205,647 2,665,417
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18. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 130,326 258,196
Santander hold a fixed and floating charge over the company assets, a charge over the property at Gortrush Industrial Estate Omagh and a joint and several personal guarantee from the directors.
19. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans 127,869 127,869
2024 2023
£ £
Amounts falling due between one and five years:
Other loans 130,326 258,196
20. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 564,487 376,296
Other timing differences - 19,761
564,487 396,057
21. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2023 396,057 396,057
Additions 168,430 168,430
Balance at 31 July 2024 564,487 564,487
22. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
23. 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 £65,358 (2023: £77,689).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
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24. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 100,000 100,000
25. Related Party Disclosures
There have been no transactions with shareholders outside the normal course of business.
Patterson Retail Ltd  
2024
2023
£
£
Purchases  
413,721
421,291
Amount due from related party
624,056
188,897
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Mr G R Patterson is both a shareholder and director of Patterson Retail Limited. In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the term ordinarily offered by the company.
Included in other debotrs is an amount owed by Patterson Haulage Limited £1,037,001. This is repayable on demand with no interest charged. Mr G R Patterson is both a shareholder and director of Patterson Haulage Limited.
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