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REGISTERED NUMBER: 13743356 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

CALLOW GAS LIMITED

CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CALLOW GAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: Mrs A M Callow
Mrs H L Needham
J Callow





REGISTERED OFFICE: Severn House
Sandy Lane Industrial Estate
Stourport-On-Severn
DY13 9QB





REGISTERED NUMBER: 13743356 (England and Wales)





AUDITORS: French Ludlam & Co Limited
Statutory Auditors and Accountants
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL

CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)

STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,924,804 4,386,546
Tangible assets 5 2,104,514 2,215,806
6,029,318 6,602,352

CURRENT ASSETS
Stocks 164,180 180,668
Debtors 6 3,132,510 3,110,340
Investments 7 265,243 -
Cash at bank and in hand 2,374,487 330,660
5,936,420 3,621,668
CREDITORS
Amounts falling due within one year 8 (3,008,430 ) (1,011,741 )
NET CURRENT ASSETS 2,927,990 2,609,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,957,308

9,212,279

PROVISIONS FOR LIABILITIES (305,055 ) (306,464 )
NET ASSETS 8,652,253 8,905,815

CAPITAL AND RESERVES
Called up share capital 8,769,566 8,769,566
Retained earnings (117,313 ) 136,249
8,652,253 8,905,815

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th June 2025 and were signed on its behalf by:





J Callow - Director


CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Callow Gas 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.

The comparative figures cover the period from 1st December 2022 to 30th September 2023. The company changed its accounting period date to fall in line with the year end of other related companies.

Significant judgements and estimates
In applying the company's accounting policies, the directors are required to make judgements in determining the carrying amounts of assets and liabilities. The directors' judgements are based on the best and most reliable evidence available at the time when the decisions are, made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, the actual results and outcomes may differ.

Critical judgements in applying the company's accounting policies
The directors have not made any material judgements or estimations in the process of applying the company's accounting policies.

Revenue
Revenue from the sale of goods is recognised when the company has transferred the risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed payment. Revenue is shown net of discounts, rebates, value added tax and other sales tax.

Revenue is recognised when the goods are delivered to or collected by the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

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 - at varying rates on cost
Motor vehicles - 33% on reducing balance

No depreciation has been charged on freehold property as the estimated remaining useful economic life of the property exceeds 50 years and a continuous policy of renewal and maintenance is undertaken. A full review of the impairment of freehold property has been completed at the end of the accounting period with no adjustments being considered necessary to the value at which the property is shown in the financial statements. Freehold land is not depreciated.

CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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

Cost is based on the cost of purchase on a first in, first out basis

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Investments
Investments comprise investments in quoted shares and guilds, which are measured at fair value. Changes in fair value are recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 4,617,417
AMORTISATION
At 1st October 2023 230,871
Charge for year 461,742
At 30th September 2024 692,613
NET BOOK VALUE
At 30th September 2024 3,924,804
At 30th September 2023 4,386,546

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st October 2023 487,569 1,873,682 2,361,251
Additions - 190,401 190,401
Disposals - (21,052 ) (21,052 )
At 30th September 2024 487,569 2,043,031 2,530,600
DEPRECIATION
At 1st October 2023 - 145,445 145,445
Charge for year - 280,641 280,641
At 30th September 2024 - 426,086 426,086
NET BOOK VALUE
At 30th September 2024 487,569 1,616,945 2,104,514
At 30th September 2023 487,569 1,728,237 2,215,806

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 449,187 456,352
Other debtors 2,683,323 2,653,988
3,132,510 3,110,340

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 265,243 -

CALLOW GAS LIMITED (REGISTERED NUMBER: 13743356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 986,218 887,936
Taxation and social security 320,836 112,030
Other creditors 1,701,376 11,775
3,008,430 1,011,741

9. SECURED DEBTS

Any potential bank borrowings are secured by a debenture over all assets of the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen B Ludlam (Senior Statutory Auditor)
for and on behalf of French Ludlam & Co Limited

11. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 156,993 -

12. ULTIMATE CONTROLLING PARTY

The controlling party is Callow Gas Holdings Limited.

The ultimate controlling party is Mrs A M Callow.

The registered address of Callow Gas Holdings Limited is Severn House, Sandy Lane Industrial Estate, Stourport-On-Severn DY13 9QB.

Copies of the unconsolidated financial statements in respect of Callow Gas Holdings Limited can be obtained from the Registrar of Companies (England and Wales), Companies House, Crown Way, Cardiff CF14 3UZ.

13. RESTRUCTURING

The company commenced trading on 1st April 2023 after its then holding company, Hingley & Callow Oils Limited, hived down its Callow Gas trading division in exchange for the company allotting 8,769,565 £1 ordinary shares as consideration.

On 19th July 2023, Hingley & Callow Oils Limited declared a dividend in specie which was satisfied by the transfer of Callow Gas Limited and two other fellow subsidiary companies, to Hingley and Callow Oils Limited's holding company, Hingley & Callow Oils Holdings Limited. Callow Gas Limited was then a 100% subsidiary of Hingley & Callow Oils Holdings Limited.

On the same day, as part of a tri-partite agreement, the investment in Callow Gas Limited was transferred to Callow Gas Holdings Limited in exchange for Callow Gas Holdings Limited allotting 8,769,566 £1 ordinary shares as consideration, and Hingley & Callow Oils Holdings Limited cancelling 8,769,566 £1 ordinary B shares. Callow Gas Limited is now a 100% subsidiary of Callow Gas Holdings Limited.

On 30th September 2024 £2,584,091 (2023 £2,585,640) was due to the company from Hingley & Callow Oils Limited.