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Registration number: 01708836

Fuel Oils (Holdings) Limited

Financial Statements

for the Year Ended 30 September 2024

 

Fuel Oils (Holdings) Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 7

Profit and Loss Account

8

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 21

 

Fuel Oils (Holdings) Limited

Company Information

Directors

Mrs Barbara Durell

Sarah Evans

Stuart Durell

Registered office

Unit 3-4 Burnet Road
Darent Industrial Park
Erith
Dartford
Kent
DA8 2JZ




 

Auditors

Brooks Green
Brooks Green Registered Auditor
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Fuel Oils (Holdings) Limited

Strategic Report for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

Principal activity

The principal activity of the company is Supply & distribution of fuel oil products

Fair review of the business

Turnover has fallen slightly but margins have been maintained. The directors are trying to gain a bigger share of the bulk sector.

Principal risks and uncertainties

The oil price remains the greatest uncertainty in the market, but the directors are happy that their business policies will continue to ensure that this does not have any detrimentakl effect on the business.

Approved by the Board on 23 June 2025 and signed on its behalf by:

 



Sarah Evans
Director



Stuart Durell
Director

 

Fuel Oils (Holdings) Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Royston Thomas Durell (ceased 9 November 2023)

Mrs Barbara Durell (appointed 9 October 2023)

Sarah Evans (appointed 9 October 2023)

Stuart Durell

Financial instruments
 

Objectives and policies

The directors aim to manage financial risk.
The company continues to invest in new tankers and to modernise their fleet.

Price risk, credit risk, liquidity risk and cash flow risk

The directors consider that their business policies ensure that the company has no material exposure regarding price risk, credit risk, liquidity risk or cashflow risk.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Brooks Green as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Approved by the Board on 23 June 2025 and signed on its behalf by:




Sarah Evans
Director




Stuart Durell
Director

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

 

Fuel Oils (Holdings) Limited

Statement of Directors' Responsibilities

Statement of Directors' responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

 

Fuel Oils (Holdings) Limited

Independent Auditor's Report to the Members of Fuel Oils (Holdings) Limited

Opinion

We have audited the financial statements of Fuel Oils (Holdings) Limited (the 'company') for the year ended 30 September 2024, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and 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 company's affairs as at 30 September 2024 and of its loss 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 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 director's 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matter 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

 

Fuel Oils (Holdings) Limited

Independent Auditor's Report to the Members of Fuel Oils (Holdings) Limited

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

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, or returns adequate for our audit have not been received from branches not visited by us; or

the 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 4], 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor’s report 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:

Responsibility for the prevention and detection of irregularities, including fraud, resides with the company directors. We planned and conducted our audit to detect material irregularities, including fraud, but the audit cannot be considered a comprehensive assignment for the detection of such irregularities.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Fuel Oils (Holdings) Limited

Independent Auditor's Report to the Members of Fuel Oils (Holdings) Limited

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 an auditor’s report 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.

......................................
Rowland Aarons (Senior Statutory Auditor)
For and on behalf of Brooks Green, Statutory Auditor

Abbey House
342 Regents Park Road
London
N3 2LJ

23 June 2025

 

Fuel Oils (Holdings) Limited

Profit and Loss Account for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

3

58,416,452

67,208,902

Cost of sales

 

(54,654,574)

(62,822,610)

Gross profit

 

3,761,878

4,386,292

Administrative expenses

 

(4,741,454)

(1,136,746)

Other operating income

4

-

132,281

Operating (loss)/profit

5

(979,576)

3,381,827

Income from other fixed assets investments

 

-

(97,909)

Other interest receivable and similar income

6

75

63

Interest payable and similar expenses

7

-

(117,796)

   

75

(215,642)

(Loss)/profit before tax

 

(979,501)

3,166,185

Tax on (loss)/profit

11

-

99,457

(Loss)/profit for the financial year

 

(979,501)

3,265,642

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Fuel Oils (Holdings) Limited

Statement of Comprehensive Income for the Year Ended 30 September 2024

2024
£

2023
£

(Loss)/profit for the year

(979,501)

3,265,642

Deficit on revaluation of other assets

-

(519,683)

Total comprehensive income for the year

(979,501)

2,745,959

 

Fuel Oils (Holdings) Limited

(Registration number: 01708836)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

12

4,145,131

2,943,530

Investments

13

-

4

 

4,145,131

2,943,534

Current assets

 

Stocks

14

1,273,267

1,615,628

Debtors

15

5,968,598

7,991,560

Cash at bank and in hand

 

2,067,573

4,227,203

 

9,309,438

13,834,391

Creditors: Amounts falling due within one year

16

(6,258,221)

(8,602,075)

Net current assets

 

3,051,217

5,232,316

Net assets

 

7,196,348

8,175,850

Capital and reserves

 

Called up share capital

1,536,131

1,536,131

Retained earnings

5,660,217

6,639,719

Shareholders' funds

 

7,196,348

8,175,850

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 



 

Sarah Evans
Director



 

Stuart Durell
Director

 

Fuel Oils (Holdings) Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

1,536,131

6,639,718

8,175,849

Loss for the year

-

(979,501)

(979,501)

At 30 September 2024

1,536,131

5,660,217

7,196,348

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2022

1,536,131

519,683

8,363,626

10,419,440

Profit for the year

-

-

3,265,642

3,265,642

Other comprehensive income

-

(519,683)

-

(519,683)

Total comprehensive income

-

(519,683)

3,265,642

2,745,959

Dividends

-

-

(4,989,549)

(4,989,549)

At 30 September 2023

1,536,131

-

6,639,719

8,175,850

 

Fuel Oils (Holdings) Limited

Statement of Cash Flows for the Year Ended 30 September 2024

Note

2024
 £

2023
 £

Cash flows from operating activities

(Loss)/profit for the year

 

(979,501)

3,265,642

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

5

550,027

373,087

Profit on disposal of tangible assets

(30,629)

(3,345,723)

Finance income

6

(75)

97,846

Finance costs

7

-

117,796

Income tax expense

11

-

(99,457)

 

(460,178)

409,191

Working capital adjustments

 

Decrease in stocks

14

342,361

155,432

Decrease in trade debtors

15

1,997,268

1,227,485

Decrease in trade creditors

16

(2,343,854)

(220,360)

Cash generated from operations

 

(464,403)

1,571,748

Income taxes received/(paid)

11

25,694

(99,455)

Net cash flow from operating activities

 

(438,709)

1,472,293

Cash flows from investing activities

 

Interest received

6

75

(97,846)

Proceeds from sale of subsidiaries

 

4

-

Acquisitions of tangible assets

(1,769,999)

(829,994)

Proceeds from sale of tangible assets

 

49,000

4,855,383

Net cash flows from investing activities

 

(1,720,920)

3,927,543

Cash flows from financing activities

 

Interest paid

7

-

(117,796)

Dividends paid

-

(4,989,549)

Net cash flows from financing activities

 

-

(5,107,345)

Net (decrease)/increase in cash and cash equivalents

 

(2,159,629)

292,491

Cash and cash equivalents at 1 October

 

4,227,203

4,428,697

Cash and cash equivalents at 30 September

 

2,067,574

4,721,188

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

These financial statements were authorised for issue by the Board on 23 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

tangible assets is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Nil

Motor vehicles

25% RB

Other property plant and equipment

15% RB

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Revenue

The analysis of the company's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Sale of goods

58,347,073

67,200,015

Interest received

69,379

8,887

58,416,452

67,208,902

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
£

2023
£

Miscellaneous other operating income

-

132,281

5

Operating (loss)/profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

550,027

373,087

Profit on disposal of property, plant and equipment

(30,629)

(3,345,723)

6

Other interest receivable and similar income

2024
£

2023
£

Interest income on investments

75

63

7

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

-

117,796

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Wages and salaries

2,261,516

2,187,678

Pension costs, defined contribution scheme

46,447

46,100

Redundancy costs

7,500

-

Other employee expense

204,549

207,545

2,520,012

2,441,323

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

8

8

Sales, marketing and distribution

49

48

57

56

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

9

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

260,911

152,265

Compensation for loss of office

29,505

-

290,416

152,265

10

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

33,549

29,204


 

11

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

-

(74,014)

UK corporation tax adjustment to prior periods

-

(25,443)

-

(99,457)

12

Tangible assets

Freehold land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

1,283,727

5,171,582

1,199,760

7,655,069

Additions

-

1,639,716

130,283

1,769,999

Disposals

-

(935,383)

-

(935,383)

At 30 September 2024

1,283,727

5,875,915

1,330,043

8,489,685

Depreciation

At 1 October 2023

-

3,736,222

975,317

4,711,539

Charge for the year

-

508,771

41,256

550,027

Eliminated on disposal

-

(917,012)

-

(917,012)

At 30 September 2024

-

3,327,981

1,016,573

4,344,554

Carrying amount

At 30 September 2024

1,283,727

2,547,934

313,470

4,145,131

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Freehold land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

At 30 September 2023

1,283,727

1,435,360

224,443

2,943,530

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

13

Investments

2024
£

2023
£

Investments in subsidiaries

-

4

Subsidiaries

£

Cost or valuation

At 1 October 2023

4

Disposals

(4)

At 30 September 2024

-

Provision

Carrying amount

At 30 September 2024

-

At 30 September 2023

4

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Chapter Oils Limited

3-4 Burnett Road, Darent Industrial Park, Erith, Kent DA8 2LG

England

Ordinary

0%

100%

Fuel Oils Limited

3-4 Burnett Road, Darent Industrial Estate, Erith, Kent DA8 2LG

England

Ordinary

0%

100%

14

Stocks

2024
£

2023
£

Other inventories

1,273,267

1,615,628

15

Debtors

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Current

Note

2024
£

2023
£

Trade debtors

 

5,726,999

7,344,488

Other debtors

 

54,334

248,696

Prepayments

 

113,503

298,920

Income tax asset

11

73,762

99,456

   

5,968,598

7,991,560

16

Creditors

Note

2024
 £

2023
 £

Due within one year

 

trade creditors

 

4,517,213

6,686,252

Amounts due to related parties

18

1,660,366

418,914

Social security and other taxes

 

59,091

57,556

Other payables

 

15,051

1,425,881

Accruals and deferred income

 

6,500

13,472

 

6,258,221

8,602,075

17

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary Shares of £1 each

2,254

2,254

2,254

2,254

B Ordinary Shares (non voting) of £1 each

10,000

10,000

10,000

10,000

C Ordinary Shares (non voting) of £1 each

790,000

790,000

790,000

790,000

D Ordinary Shares (non voting) of £1 each

680,000

680,000

680,000

680,000

 

1,482,254

1,482,254

1,482,254

1,482,254

18

Related party transactions

The company owes Durell Holdings Limited £1,660,366. This amount is interest free and has no fixed repayment date. Durell Holdings Limited owns 100% of the share capital of Fuel Oils (Holdings) Limited.

 

Fuel Oils (Holdings) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

19

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £46,447 (2023 - £46,100).