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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
Page
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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
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South West Fuels Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
5,746 
2,614 
Tangible assets
58,003 
31,819 
63,749 
34,433 
Current assets
Inventories
8,798 
11,398 
Debtors
107,802 
108,604 
Cash at bank and in hand
65,723 
91,400 
182,323 
211,402 
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 
Capital and reserves
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
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South West Fuels Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
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
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
Inventories have been valued at the lower of cost and net realisable value.
Deferred taxation
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.
Leased assets
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
Intangible fixed assets (purchased goodwill and website) are included at cost less accumulated amortisation.
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South West Fuels Limited Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 October 2023
500 
4,194 
4,694 
Additions
4,000 
- 
4,000 
At 30 September 2024
4,500 
4,194 
8,694 
Amortisation
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 
Net book value
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 
Depreciation
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 
Net book value
At 30 September 2024
3,213 
3,047 
51,743 
58,003 
At 30 September 2023
2,899 
2,127 
26,793 
31,819 
6
Debtors
2024 
2023 
£ 
£ 
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 
107,802 
108,604 
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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 
Other creditors
811 
433 
Accruals
11,832 
10,225 
132,604 
114,302 
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)
3,407 
6,691 
2024 
2023 
£ 
£ 
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 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
500 Ordinary shares of £10 each
5,000 
5,000 
11
Loans to directors
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).
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