McCurdy Fuels Limited NI646122 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the retail distribution of domestic, agricultural and commercial fuel oils and lubricants. Digita Accounts Production Advanced 6.30.9574.0 true true NI646122 2023-11-01 2024-10-31 NI646122 2024-10-31 NI646122 bus:OrdinaryShareClass1 2024-10-31 NI646122 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-10-31 NI646122 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-10-31 NI646122 core:CurrentFinancialInstruments 2024-10-31 NI646122 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 NI646122 core:Non-currentFinancialInstruments 2024-10-31 NI646122 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 NI646122 core:Goodwill 2024-10-31 NI646122 core:FurnitureFittingsToolsEquipment 2024-10-31 NI646122 core:LandBuildings 2024-10-31 NI646122 core:OtherPropertyPlantEquipment 2024-10-31 NI646122 bus:SmallEntities 2023-11-01 2024-10-31 NI646122 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 NI646122 bus:FilletedAccounts 2023-11-01 2024-10-31 NI646122 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI646122 bus:RegisteredOffice 2023-11-01 2024-10-31 NI646122 bus:Director1 2023-11-01 2024-10-31 NI646122 bus:Director2 2023-11-01 2024-10-31 NI646122 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 NI646122 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI646122 core:Goodwill 2023-11-01 2024-10-31 NI646122 core:FurnitureFittings 2023-11-01 2024-10-31 NI646122 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI646122 core:LandBuildings 2023-11-01 2024-10-31 NI646122 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 NI646122 countries:NorthernIreland 2023-11-01 2024-10-31 NI646122 2023-10-31 NI646122 core:Goodwill 2023-10-31 NI646122 core:FurnitureFittingsToolsEquipment 2023-10-31 NI646122 core:LandBuildings 2023-10-31 NI646122 core:OtherPropertyPlantEquipment 2023-10-31 NI646122 2022-11-01 2023-10-31 NI646122 2023-10-31 NI646122 bus:OrdinaryShareClass1 2023-10-31 NI646122 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-31 NI646122 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-10-31 NI646122 core:CurrentFinancialInstruments 2023-10-31 NI646122 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 NI646122 core:Non-currentFinancialInstruments 2023-10-31 NI646122 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 NI646122 core:FurnitureFittingsToolsEquipment 2023-10-31 NI646122 core:LandBuildings 2023-10-31 NI646122 core:OtherPropertyPlantEquipment 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI646122

McCurdy Fuels Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

McCurdy Fuels Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

McCurdy Fuels Limited

(Registration number: NI646122)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

552,430

646,839

Current assets

 

Stocks

6

479,850

625,466

Debtors

7

1,407,106

1,305,915

Cash at bank and in hand

 

826,245

674,519

 

2,713,201

2,605,900

Creditors: Amounts falling due within one year

8

(1,306,549)

(1,279,958)

Net current assets

 

1,406,652

1,325,942

Total assets less current liabilities

 

1,959,082

1,972,781

Creditors: Amounts falling due after more than one year

8

(29,824)

(101,300)

Provisions for liabilities

(118,823)

(142,425)

Net assets

 

1,810,435

1,729,056

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

1,810,425

1,729,046

Shareholders' funds

 

1,810,435

1,729,056

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

 

McCurdy Fuels Limited

(Registration number: NI646122)
Balance Sheet as at 31 October 2024

.........................................
Mr Robert McCurdy
Director

.........................................
Mr Bill McCurdy
Director

 
     
 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
Northern Ireland

These financial statements were authorised for issue by the Board on 29 August 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors note the trading and cashflow position at sign off of the financial statements and believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

25% reducing balance

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straight line over 5 years

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 at the transaction price. 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.

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 at the transaction price.

 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

179,999

179,999

At 31 October 2024

179,999

179,999

Amortisation

At 1 November 2023

179,999

179,999

At 31 October 2024

179,999

179,999

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

77,140

59,961

1,390,458

1,527,559

Additions

-

-

64,022

64,022

At 31 October 2024

77,140

59,961

1,454,480

1,591,581

Depreciation

At 1 November 2023

-

43,902

836,818

880,720

Charge for the year

-

4,015

154,416

158,431

At 31 October 2024

-

47,917

991,234

1,039,151

Carrying amount

At 31 October 2024

77,140

12,044

463,246

552,430

At 31 October 2023

77,140

16,059

553,640

646,839

Included within the net book value of land and buildings above is £77,140 (2023 - £77,140) in respect of freehold land and buildings.
 

 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

stocks

2024
£

2023
£

Other inventories

479,850

625,466

7

debtors

Current

2024
£

2023
£

Trade debtors

1,042,961

1,114,605

Prepayments

62,362

56,956

Other debtors

301,783

134,354

 

1,407,106

1,305,915

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

71,488

89,411

Trade creditors

 

1,006,965

862,831

Taxation and social security

 

61,860

61,946

Accruals and deferred income

 

11,000

5,400

Other creditors

 

155,236

260,370

 

1,306,549

1,279,958

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

29,824

101,300

 

McCurdy Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

16,442

26,802

Hire purchase contracts

13,382

74,498

29,824

101,300

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,372

10,128

Hire purchase contracts

61,116

79,283

71,488

89,411