| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| CALLOW GAS LIMITED |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| 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 |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Plant and machinery | - |
| Motor vehicles | - |
| 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 |
| 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 |
| AMORTISATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 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 |
| Taxation and social security |
| Other creditors |
| 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. |
| for and on behalf of |
| 11. | CAPITAL COMMITMENTS |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Callow Gas Holdings Limited. |
| The ultimate controlling party is |
| 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. |