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REGISTERED NUMBER: 04307248 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

EURO FUELS LIMITED

EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EURO FUELS LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: G N MacDermott





REGISTERED OFFICE: The Old Workshop
1 Ecclesall Road South
Sheffield
S11 9PA





REGISTERED NUMBER: 04307248 (England and Wales)





ACCOUNTANTS: Brown McLeod Limited
Chartered Accountants
The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA

EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,803 9,070
Tangible assets 5 350,852 333,208
357,655 342,278

CURRENT ASSETS
Stocks 16,538 19,626
Debtors 6 146,334 19,757
Cash at bank and in hand 354,448 579,701
517,320 619,084
CREDITORS
Amounts falling due within one year 7 101,525 91,303
NET CURRENT ASSETS 415,795 527,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

773,450

870,059

PROVISIONS FOR LIABILITIES 87,410 62,971
NET ASSETS 686,040 807,088

CAPITAL AND RESERVES
Called up share capital 491 491
Retained earnings 685,549 806,597
686,040 807,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)

BALANCE SHEET - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 May 2025 and were signed by:





G N MacDermott - Director


EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Euro Fuels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction
price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 25,000 11,338 36,338
AMORTISATION
At 1 September 2023 25,000 2,268 27,268
Charge for year - 2,267 2,267
At 31 August 2024 25,000 4,535 29,535
NET BOOK VALUE
At 31 August 2024 - 6,803 6,803
At 31 August 2023 - 9,070 9,070

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 962,447
Additions 104,525
At 31 August 2024 1,066,972
DEPRECIATION
At 1 September 2023 629,239
Charge for year 86,881
At 31 August 2024 716,120
NET BOOK VALUE
At 31 August 2024 350,852
At 31 August 2023 333,208

EURO FUELS LIMITED (REGISTERED NUMBER: 04307248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 24,900 3,662
Other debtors 121,434 16,095
146,334 19,757

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 55,099 43,110
Taxation and social security 1,069 1,222
Other creditors 45,357 46,971
101,525 91,303