IRIS Accounts Production v25.1.3.33 11276869 Board of Directors 30.9.24 1.10.23 30.9.24 30.9.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. the operation of petrol filling stations, including related convenience stores and car valeting services. true true true false true true false false false false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112768692023-09-30112768692024-09-30112768692023-10-012024-09-30112768692022-09-30112768692022-10-012023-09-30112768692023-09-3011276869ns15:EnglandWales2023-10-012024-09-3011276869ns14:PoundSterling2023-10-012024-09-3011276869ns10:Director12023-10-012024-09-3011276869ns10:Consolidated2024-09-3011276869ns10:ConsolidatedGroupCompanyAccounts2023-10-012024-09-3011276869ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3011276869ns10:Consolidatedns10:MediumEntities2023-10-012024-09-3011276869ns10:Consolidatedns10:Audited2023-10-012024-09-3011276869ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3011276869ns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3011276869ns10:Consolidated2023-10-012024-09-3011276869ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3011276869ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3011276869ns10:FullAccounts2023-10-012024-09-3011276869ns5:Subsidiary12023-10-012024-09-3011276869ns5:Subsidiary22023-10-012024-09-3011276869ns5:Subsidiary32023-10-012024-09-301127686912023-10-012024-09-3011276869ns10:Director22023-10-012024-09-3011276869ns10:RegisteredOffice2023-10-012024-09-3011276869ns10:Consolidated2022-10-012023-09-3011276869ns5:CurrentFinancialInstruments2024-09-3011276869ns5:CurrentFinancialInstruments2023-09-3011276869ns5:Non-currentFinancialInstruments2024-09-3011276869ns5:Non-currentFinancialInstruments2023-09-3011276869ns5:ShareCapital2024-09-3011276869ns5:ShareCapital2023-09-3011276869ns5:SharePremium2024-09-3011276869ns5:SharePremium2023-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2024-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-3011276869ns5:RetainedEarningsAccumulatedLosses2024-09-3011276869ns5:RetainedEarningsAccumulatedLosses2023-09-3011276869ns5:ShareCapital2022-09-3011276869ns5:RetainedEarningsAccumulatedLosses2022-09-3011276869ns5:SharePremium2022-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2022-09-3011276869ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2022-10-012023-09-3011276869ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2023-10-012024-09-3011276869ns5:NetGoodwill2023-10-012024-09-3011276869ns5:CostValuation2023-09-30112768691ns5:Subsidiary12023-10-012024-09-3011276869ns5:Subsidiary232023-10-012024-09-30112768695ns5:Subsidiary32023-10-012024-09-3011276869ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3011276869ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3011276869ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3011276869ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3011276869ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3011276869ns5:RetainedEarningsAccumulatedLosses2023-09-3011276869ns5:SharePremium2023-09-3011276869ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-30
REGISTERED NUMBER: 11276869 (England and Wales)





GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

RUSDENE GROUP LIMITED

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


RUSDENE GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: P S Lodge
O R Lodge





REGISTERED OFFICE: Unit Hamble IV And V Old Hambledon
Racecourse, Droxford
Southampton
United Kingdom
SO32 3QY





REGISTERED NUMBER: 11276869 (England and Wales)





AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The directors present their strategic report of the company and the group for the year ended 30th September 2024.

REVIEW OF BUSINESS
The consolidated income statement is set out on page 7 and shows turnover for the year of £32,520,028 (2023:£37,393,938) and profit before taxation for the year of £1,442,511 (2023: £2,502,218).

Fuel sales decreased from £26,704,365 in 2022/23 to £22,035,098, this is mainly due to a 11% decrease in the volume of litres sold.

Shop sales have decreased by 2.5%, which is only a small variance from the prior year.

The group's focus in the current financial period continues to be the development of both its staff and business with several projects underway to expand and improve a number of its sites.

PRINCIPAL RISKS AND UNCERTAINTIES
The group operates in a market that is highly competitive and profitability is determined both by fuel costs and the prices charged by the large retail organisations. However, the group has a very stable balance sheet and its forecasts and projections, taking account of reasonable possible changes in trading performance, show that it will have sufficient cash resources to meet its financial commitments as they fall due. The group also closely monitors the prices charged by its competitors so that it can retain its market share.

GOING CONCERN
The director of the group considers it appropriate to adopt the going concern basis of accounting and has not identified any material uncertainties to the group's ability to continue to do so over a period of at least 12 months from the date of approval of the financial statements.

ON BEHALF OF THE BOARD:





O R Lodge - Director


9th June 2025

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 30th September 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 will be £465,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report.

P S Lodge
O R Lodge

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





O R Lodge - Director


9th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RUSDENE GROUP LIMITED


Opinion
We have audited the financial statements of Rusdene Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30th September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RUSDENE GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RUSDENE GROUP LIMITED


We obtained an understanding of the legal and regulatory framework applicable to the group via discussions with the directors. This identified that the most significant laws and regulations relate to the compliance with various laws regulating the sale of petrol and health and safety as well as the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The group complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements and undertake regular health and safety reviews of each site.

As part of our planning process we assessed susceptibility of the group's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Rusdene Group Limited are revenue recognition and the impact of performance targets on influencing management override. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing revenue recognition policies and sales cut off and reviewing those areas susceptible to management override including testing manual journals and making enquiries of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Harriet Sergeant BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

16th June 2025

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 32,520,028 37,393,938

Cost of sales 26,762,697 31,393,954
GROSS PROFIT 5,757,331 5,999,984

Administrative expenses 4,457,904 3,602,124
1,299,427 2,397,860

Other operating income 203,118 243,579
OPERATING PROFIT 5 1,502,545 2,641,439

Interest receivable and similar income 34,667 -
1,537,212 2,641,439

Interest payable and similar expenses 7 94,700 139,221
PROFIT BEFORE TAXATION 1,442,512 2,502,218

Tax on profit 8 413,219 623,941
PROFIT FOR THE FINANCIAL YEAR 1,029,293 1,878,277
Profit attributable to:
Owners of the parent 1,029,293 1,878,277

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,029,293 1,878,277


OTHER COMPREHENSIVE INCOME
Deferred tax on revaluation (185,591 ) 5,962
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(185,591

)

5,962
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

843,702

1,884,239

Total comprehensive income attributable to:
Owners of the parent 843,702 1,884,239

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

CONSOLIDATED BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 135,942 173,881
Tangible assets 12 6,218,721 6,262,461
Investments 13 - -
6,354,663 6,436,342

CURRENT ASSETS
Stocks 14 632,372 703,160
Debtors 15 369,838 337,063
Cash at bank and in hand 2,635,463 2,347,448
3,637,673 3,387,671
CREDITORS
Amounts falling due within one year 16 2,850,658 3,256,306
NET CURRENT ASSETS 787,015 131,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,141,678

6,567,707

CREDITORS
Amounts falling due after more than one
year

17

(1,135,150

)

(1,141,470

)

PROVISIONS FOR LIABILITIES 21 (1,002,693 ) (801,104 )
NET ASSETS 5,003,835 4,625,133

CAPITAL AND RESERVES
Called up share capital 22 3,248 3,248
Share premium 23 3,820,274 3,820,274
Capital reserves 23 37,258 53,489
Retained earnings 23 1,143,055 748,122
5,003,835 4,625,133

The financial statements were approved by the Board of Directors and authorised for issue on 9th June 2025 and were signed on its behalf by:





O R Lodge - Director


RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

COMPANY BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 8,876,725 8,876,725
8,876,725 8,876,725

CURRENT ASSETS
Debtors 15 63,859 -

CREDITORS
Amounts falling due within one year 16 4,247,640 4,653,203
NET CURRENT LIABILITIES (4,183,781 ) (4,653,203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,692,944

4,223,522

CREDITORS
Amounts falling due after more than one
year

17

815,815

346,511
NET ASSETS 3,877,129 3,877,011

CAPITAL AND RESERVES
Called up share capital 22 3,248 3,248
Share premium 23 3,820,274 3,820,274
Capital reserves 23 37,258 53,489
Retained earnings 23 16,349 -
3,877,129 3,877,011

Company's profit for the financial year 465,118 911,990

The financial statements were approved by the Board of Directors and authorised for issue on 9th June 2025 and were signed on its behalf by:





O R Lodge - Director


RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Share Capital Total
capital earnings premium reserves equity
£    £    £    £    £   
Balance at 1st October 2022 3,248 (224,127 ) 3,820,274 78,763 3,678,158

Changes in equity
Dividends - (937,264 ) - - (937,264 )
Total comprehensive income - 1,909,513 - (25,274 ) 1,884,239
Balance at 30th September 2023 3,248 748,122 3,820,274 53,489 4,625,133

Changes in equity
Dividends - (465,000 ) - - (465,000 )
Total comprehensive income - 859,933 - (16,231 ) 843,702
Balance at 30th September 2024 3,248 1,143,055 3,820,274 37,258 5,003,835

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Share Capital Total
capital earnings premium reserves equity
£    £    £    £    £   
Balance at 1st October 2022 3,248 - 3,820,274 78,763 3,902,285

Changes in equity
Dividends - (937,264 ) - - (937,264 )
Total comprehensive income - 937,264 - (25,274 ) 911,990
Balance at 30th September 2023 3,248 - 3,820,274 53,489 3,877,011

Changes in equity
Dividends - (465,000 ) - - (465,000 )
Total comprehensive income - 481,349 - (16,231 ) 465,118
Balance at 30th September 2024 3,248 16,349 3,820,274 37,258 3,877,129

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,802,009 3,376,783
Interest paid (89,784 ) (139,221 )
Interest element of hire purchase payments
paid

(4,916

)

-
Tax paid (484,538 ) (619,630 )
Net cash from operating activities 1,222,771 2,617,932

Cash flows from investing activities
Purchase of tangible fixed assets (118,582 ) (155,672 )
Interest received 34,667 -
Net cash from investing activities (83,915 ) (155,672 )

Cash flows from financing activities
New loans in year 612,563 -
Loan repayments in year (35,899 ) (388,419 )
Capital repayments in year (20,611 ) -
Amount introduced by directors 1,140,396 1,018,001
Amount withdrawn by directors (1,939,028 ) (2,033,459 )
Other loan movement (143,262 ) (74,726 )
Equity dividends paid (465,000 ) (937,264 )
Net cash from financing activities (850,841 ) (2,415,867 )

Increase in cash and cash equivalents 288,015 46,393
Cash and cash equivalents at beginning of
year

2

2,347,448

2,301,055

Cash and cash equivalents at end of year 2 2,635,463 2,347,448

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,442,512 2,502,218
Depreciation charges 281,181 254,506
Loss on disposal of fixed assets - 25,712
Finance costs 94,700 139,221
Finance income (34,667 ) -
1,783,726 2,921,657
Decrease in stocks 70,788 100,279
(Increase)/decrease in trade and other debtors (32,775 ) 270,701
(Decrease)/increase in trade and other creditors (19,730 ) 84,146
Cash generated from operations 1,802,009 3,376,783

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 2,635,463 2,347,448
Year ended 30th September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 2,347,448 2,301,055


RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.10.23 Cash flow changes At 30.9.24
£    £    £    £   
Net cash
Cash at bank
and in hand 2,347,448 288,015 2,635,463
2,347,448 288,015 2,635,463
Debt
Finance leases - 20,611 - (60,309 )
Debts falling due
within 1 year (135,834 ) (1,337 ) - (137,171 )
Debts falling due
after 1 year (653,470 ) 197,008 - (456,462 )
(789,304 ) 216,282 - (653,942 )
Total 1,558,144 504,297 - 1,981,521

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


1. STATEMENT OF COMPLIANCE

Rusdene Group Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Unit IV and V, The Old Hambledon Racecourse Centre, Wallops Wood, Sheardley Lane, Droxford, England, SO32 3QY. The registration number is 11276869.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements incorporate the results of Rusdene Group Limited and all its subsidiary undertakings as at 30th September 2024 using the acquisition method of accounting. The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Profit and Loss Account in these financial statements.

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

Government grants are accounted for when receivable and any conditions attached to the grant has been met.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost or revalued amount
Plant and machinery - 25% on cost, 10% on cost and 5% on cost
Motor Vehicles- 25% reducing balance


Land and Building
The group took advantage of the transitional provisions in section 35.10(c) of FRS 102 to use the revalued amount for freehold property as deemed cost. The freehold property is then depreciated over its revised useful life of 50 years. The valuation was carried out by Derek Lodge, a qualified quantity surveyor. the effective date of the revaluation was 1st October 2014, the transitional date to FRS 102.

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

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the group becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank and other short term liquid investments.

Debtors
Short term debtors are stated at their nominal value. Loans receivable are measured initially at their nominal value and are measured subsequently at amortised cost using the effective interest method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and loss account when there is objective evidence that the asset is impaired.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Shop sales 10,403,383 10,664,892
Fuel sales 22,035,098 26,704,365
Rental income 81,547 24,681
32,520,028 37,393,938

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,790,139 2,269,334
Social security costs 311,642 171,614
Other pension costs 45,370 43,144
3,147,151 2,484,092

The average number of employees during the year was as follows:
2024 2023

Office and administration 5 5
Sales and management 67 65
72 70

The average number of employees by undertakings that were proportionately consolidated during the year was 72 (2023 - 70 ) .

2024 2023
£    £   
Directors' remuneration 962,790 468,437

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 509,091 251,707

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 86,787 73,888
Depreciation - owned assets 223,012 216,566
Depreciation - assets on hire purchase contracts 20,230 -
Loss on disposal of fixed assets - 25,712
Goodwill amortisation 37,939 37,939
Stock provision (8,320 ) 8,320

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

20,000

21,500
Other non- audit services 16,240 2,300

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 11,882 18,028
Loan interest 16,231 25,274
Other loan interest 16,510 -
Directors' loan account
interest 45,161 95,919
Hire purchase 4,916 -
94,700 139,221

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 397,221 591,461

Deferred tax 15,998 32,480
Tax on profit 413,219 623,941

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,442,512 2,502,218
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 22.008 %)

360,628

550,688

Effects of:
Expenses not deductible for tax purposes 14,265 15,409
Depreciation in excess of capital allowances 22,328 25,364
Deferred tax movement 15,998 32,480
Total tax charge 413,219 623,941

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Deferred tax on revaluation (185,591 ) - (185,591 )

2023
Gross Tax Net
£    £    £   
Deferred tax on revaluation 5,962 - 5,962

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
shares of each
Final 465,000 937,264

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 379,382
AMORTISATION
At 1st October 2023 205,501
Amortisation for year 37,939
At 30th September 2024 243,440
NET BOOK VALUE
At 30th September 2024 135,942
At 30th September 2023 173,881

12. TANGIBLE FIXED ASSETS

Group
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st October 2023 6,850,325 1,629,354 - 8,479,679
Additions - 94,092 105,410 199,502
At 30th September 2024 6,850,325 1,723,446 105,410 8,679,181
DEPRECIATION
At 1st October 2023 968,731 1,248,487 - 2,217,218
Charge for year 116,229 104,742 22,271 243,242
At 30th September 2024 1,084,960 1,353,229 22,271 2,460,460
NET BOOK VALUE
At 30th September 2024 5,765,365 370,217 83,139 6,218,721
At 30th September 2023 5,881,594 380,867 - 6,262,461

Included in cost of land and buildings is freehold land of £1,038,112 (2023 - £1,038,112) which is not depreciated.

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


12. TANGIBLE FIXED ASSETS - continued

Group

The freehold property was valued on 1st October 2014 by Derek Lodge, a qualified quantity surveyor, who is also a director of Rusdene Services Limited.

The group elected to apply the transitional provisions in section 35.10(c) of FRS 102 to use this valuation as the deemed cost of the freehold property at the transition date.

If the freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,679,998 2,679,998
Accumulated depreciation (436,695 ) (403,873 )
Historical cost net book value 2,243,303 2,276,125

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 80,920
At 30th September 2024 80,920
DEPRECIATION
Charge for year 20,230
At 30th September 2024 20,230
NET BOOK VALUE
At 30th September 2024 60,690

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st October 2023
and 30th September 2024 8,876,725
NET BOOK VALUE
At 30th September 2024 8,876,725
At 30th September 2023 8,876,725

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


13. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Rusdene Holdings Limited
Registered office: Unit Hamble IV and V, Old Hambledon Racecourse Centre, Wallops Wood, Sheardley Lane, Droxford, Hampshire
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Rusdene Services Limited
Registered office: Unit Hamble IV and V, Old Hambledon Racecourse Centre, Wallops Wood, Sheardley Lane, Droxford, Hampshire
Nature of business: Operation of petrol filling stations
%
Class of shares: holding
Ordinary 100.00

Rusdene Properties Limited
Registered office: Unit Hamble IV and V, Old Hambledon Racecourse Centre, Wallops Wood, Sheardley Lane, Droxford, Hampshire
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


14. STOCKS

Group
2024 2023
£    £   
Stocks 632,372 703,160

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 181,135 233,014 - -
Other debtors 90,935 29,017 63,859 -
Prepayments and accrued income 97,768 75,032 - -
369,838 337,063 63,859 -

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 18) 37,171 35,834 - -
Other loans (see note 18) 100,000 100,000 100,000 100,000
Hire purchase contracts (see note 19) 10,694 - - -
Trade creditors 1,550,996 1,470,012 - -
Amounts owed to group undertakings - - 4,147,640 4,553,203
Tax 72,400 159,717 - -
Social security and other taxes 129,850 21,580 - -
VAT 287,280 249,931 - -
Other creditors 10,339 4,294 - -
Childrens dividends 218,432 - - -
Directors' loan accounts 135,930 446,562 - -
Accruals and deferred income 297,566 768,376 - -
2,850,658 3,256,306 4,247,640 4,653,203

Included within other creditors is £5,786 (2023: -£1,459) which relates to overpaid pensions contributions at the year end.

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 18) 269,721 306,957 - -
Other loans (see note 18) 186,741 346,513 186,742 346,511
Hire purchase contracts (see note 19) 49,615 - - -
Other creditors 629,073 - 629,073 -
Directors' loan accounts - 488,000 - -
1,135,150 1,141,470 815,815 346,511

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 37,171 35,834 - -
Other loans 100,000 100,000 100,000 100,000
137,171 135,834 100,000 100,000
Amounts falling due between one and two years:
Other loans - 1-2 years 94,340 94,340 94,340 94,340
Amounts falling due between two and five years:
Bank loans - 2-5 years 163,042 157,180 - -
Other loans - 2-5 years 92,401 173,217 92,402 173,215
255,443 330,397 92,402 173,215
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 106,679 149,777 - -
Other loans more 5yrs instal - 78,956 - 78,956
106,679 228,733 - 78,956

The bank loan is repayable in monthly instalments of £3,982 over 10 years. The interest rate applied is fixed at 3.66%.

The other loan balance is interest free and repayable by instalments at £100,000 per annum. This loan has been shown at amortised cost with the capital element of £37,258 (2023: £53,489) being shown in the capital reserve. This capital element will be released over the term of the loan and an interest charge of £16,231 (2023: £25,274) was recognised during the year. The amortised cost of the loan was determined using a market interest rate of 6%.

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,694 -
Between one and five years 49,615 -
60,309 -

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 104,100 128,300
Between one and five years 323,000 347,100
In more than five years 313,333 400,000
740,433 875,400

20. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 306,892 342,791
Trade creditors 935,600 1,637,076
1,242,492 1,979,867

The bank loans and overdraft is secured by a first legal charge over the freehold property at West Meon.

The trade creditor balance is secured over the freehold property at Lee-on-Solent and a fixed charge over all fixtures and fittings on the premises owned by Rusdene Services Limited.

21. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 1,002,693 801,104

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


21. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1st October 2023 801,104
Provided during year 15,998
Deferred tax on revaluation 185,591
Balance at 30th September 2024 1,002,693

22. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Number Class Nominal 2024 2023
Value
625 A Ordinary Shares £1 625 625
1,500 B Ordinary Shares £1 1,500 1,500
375 C Ordinary Shares £1 375 375
374 D Ordinary Shares £1 374 374
374 E Ordinary Shares £1 374 374
3,248 3,248

The Ordinary A -E shares rank pari passu in all respects.

23. RESERVES

Group
Retained Share Capital
earnings premium reserves Totals
£    £    £    £   

At 1st October 2023 748,122 3,820,274 53,489 4,621,885
Profit for the year 1,029,293 1,029,293
Dividends (465,000 ) (465,000 )
Deferred tax (185,591 ) - - (185,591 )
Capital contribution 16,231 - (16,231 ) -
At 30th September 2024 1,143,055 3,820,274 37,258 5,000,587

RUSDENE GROUP LIMITED (REGISTERED NUMBER: 11276869)

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


23. RESERVES - continued

Company
Retained Share Capital
earnings premium reserves Totals
£    £    £    £   

At 1st October 2023 - 3,820,274 53,489 3,873,763
Profit for the year 465,118 465,118
Dividends (465,000 ) (465,000 )
Capital contribution 16,231 - (16,231 ) -
At 30th September 2024 16,349 3,820,274 37,258 3,873,881

The capital reserve includes the capital element of the interest free loan which will be released over the term of the loan.

24. RELATED PARTY DISCLOSURES

As at 30th September 2024, a balance of £21,902 was due from Seagull Trading Company Limited, a connected company with a common director (2023: £20,252).

As at 30th September 2024, a loan balance of £2,160 was due from Hambleside Investments Limited, a connected company with a common director (2023: £nil).

Interest is charged on all directors loans at 6% per annum. As at 30th September 2024, the outstanding loan balance was £nil (2023: £488,000). The directors loans have no fixed repayment date.

During the year, the group paid £45,161 (2023: £76,931) to directors in respect of interest on directors loans.

A previous director of Rusdene Services Limited owed the company £64,149 as at 30th September 2024 (2023: £290). Interest is charged at 2% + LBR and the group received interest of £1,859 (2023: nil).

As at 30th September 2024, loan balances of £629,073 (2023: £nil) was due to shareholders of the group. Interest is paid at 2% + LBR and the group paid interest of £16,510 (2023: £nil).

Included in other loans is £286,742 (2023: £446,511) which is owed to a director of Rusdene Services Limited. No interest is charged on this balance and it is repayable in £100,000 installments within 4 years. In accordance with Section 11.14 of FRS 102 this loan has been shown at amortised cost.