Company Registration No. 8200125 (England and Wales)
South West Fuels Limited
Unaudited accounts
for the year ended 30 September 2024
South West Fuels Limited
Unaudited accounts
Contents
South West Fuels Limited
Company Information
for the year ended 30 September 2024
Directors
Mrs Patricia Murphy
Mr Andrew Adams
Secretary
Mrs Patricia Murphy
Company Number
8200125 (England and Wales)
Registered Office
Moor Cottage
Trerulefoot
Nr Saltash
Cornwall
PL12 5BJ
Accountants
AG Accountancy Ltd
Coombe Mill Farm
Pillaton
Saltash
Cornwall
PL12 5AN
South West Fuels Limited
Statement of financial position
as at 30 September 2024
Intangible assets
5,746
2,614
Tangible assets
58,003
31,819
Cash at bank and in hand
65,723
91,400
Creditors: amounts falling due within one year
(132,604)
(114,302)
Net current assets
49,719
97,100
Total assets less current liabilities
113,468
131,533
Creditors: amounts falling due after more than one year
-
(1,351)
Provisions for liabilities
Deferred tax
(3,407)
(6,691)
Net assets
110,061
123,491
Called up share capital
5,000
5,000
Profit and loss account
105,061
118,491
Shareholders' funds
110,061
123,491
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by
Mrs Patricia Murphy
Director
Company Registration No. 8200125
South West Fuels Limited
Notes to the Accounts
for the year ended 30 September 2024
South West Fuels Limited is a private company, limited by shares, registered in England and Wales, registration number 8200125. The registered office is Moor Cottage, Trerulefoot, Nr Saltash, Cornwall, PL12 5BJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Reducing Balance
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding, value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories have been valued at the lower of cost and net realisable value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (purchased goodwill and website) are included at cost less accumulated amortisation.
South West Fuels Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 October 2023
500
4,194
4,694
At 30 September 2024
4,500
4,194
8,694
At 1 October 2023
300
1,780
2,080
Charge for the year
450
418
868
At 30 September 2024
750
2,198
2,948
At 30 September 2024
3,750
1,996
5,746
At 30 September 2023
200
2,414
2,614
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
3,220
6,237
85,100
94,557
Additions
670
1,450
45,995
48,115
Disposals
-
-
(32,106)
(32,106)
At 30 September 2024
3,890
7,687
98,989
110,566
At 1 October 2023
321
4,110
58,307
62,738
Charge for the year
356
530
17,244
18,130
On disposals
-
-
(28,305)
(28,305)
At 30 September 2024
677
4,640
47,246
52,563
At 30 September 2024
3,213
3,047
51,743
58,003
At 30 September 2023
2,899
2,127
26,793
31,819
Amounts falling due within one year
Trade debtors
25,920
19,453
Accrued income and prepayments
5,828
5,224
Other debtors
76,054
83,927
South West Fuels Limited
Notes to the Accounts
for the year ended 30 September 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
9,473
Obligations under finance leases and hire purchase contracts
1,351
7,846
Trade creditors
97,682
58,355
Taxes and social security
20,928
27,970
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
1,351
9
Deferred taxation
2024
2023
Accelerated capital allowances
12,471
6,728
Other deferred taxation
(9,064)
(37)
Provision at start of year
6,691
6,942
Credited to the profit and loss account
(3,284)
(251)
Provision at end of year
3,407
6,691
Allotted, called up and fully paid:
500 Ordinary shares of £10 each
5,000
5,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
36,876
33,560
38,012
32,424
36,876
33,560
38,012
32,424
73,752
67,120
76,024
64,848
Interest Free loans, which were repayable on demand, were granted to the directors and repaid in full in April 2025
12
Average number of employees
During the year the average number of employees was 8 (2023: 7).