REGISTERED NUMBER: NI027915 (Northern Ireland)

Thompson Fuels Limited

Unaudited Financial Statements

for the Year Ended 31 July 2025

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

10

Directors:

Mr WJM Thompson

Mr D Thompson

Mr A Thompson

Secretary:

Mr WJM Thompson

Registered office:

49 Market Street

Tandragee

Co Armagh

BT62 2BP

Registered number:

NI027915 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Solicitors:

Thompson Mitchell

12-14 Mandeville Street

Portadown

Co Armagh

BT62 3NZ

Fixed assets

Intangible assets

4

-

25,030

Property, plant and equipment

5

831,365

543,110

831,365

568,140

Current assets

Inventories

6

349,521

387,619

Receivables

7

918,609

969,846

Cash at bank

8

133,059

344,462

1,401,189

1,701,927

Payables

Amounts falling due within one year

9

(994,396

)

(1,168,721

)

Net current assets

406,793

533,206

Total assets less current liabilities

1,238,158

1,101,346

Payables

Amounts falling due after more than one year

10

(128,788

)

(49,637

)

Provisions for liabilities

12

(206,778

)

(135,202

)

Net assets

902,592

916,507

Capital and reserves

Called up share capital

13

300,000

300,000

Retained earnings

602,592

616,507

Shareholders' funds

902,592

916,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by:

Mr D Thompson - Director

1.	Statutory information

Thompson Fuels Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1994, has now been fully amortised in the current year.

Website development costs

Where websites are expected to generate future revenues in excess of the costs of developing those websites and all other capitalisation criteria are met, expenditure on the functionality of the website is capitalised and treated as an intangible fixed asset. Expenditure incurred on maintaining the website and expenditure incurred on developing websites used only for advertising and promotional purposes are written off as incurred. Website development costs have been amortised evenly over the estimated useful life of 3 years.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Inventories

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Payables

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of intangible and tangible assets

The annual depreciation and amortisation charges for intangible and tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See balance sheet notes on intangible fixed assets and property, plant and equipment for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3.	Employees and directors

The average number of employees during the year was 21 (2024 - 23 ) .

4.	Intangible fixed assets

Website

development

Goodwill

costs

Totals

£

£

£

Cost

At 1 August 2024

and 31 July 2025

629,800

3,400

633,200

Amortisation

At 1 August 2024

604,770

3,400

608,170

Amortisation for year

25,030

-

25,030

At 31 July 2025

629,800

3,400

633,200

Net book value

At 31 July 2025

-

-

-

At 31 July 2024

25,030

-

25,030

5.	Property, plant and equipment

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 August 2024

967,239

114,696

822,829

1,904,764

Additions

124,361

9,624

337,735

471,720

Disposals

(61,290

)

(1,715

)

(331,338

)

(394,343

)

At 31 July 2025

1,030,310

122,605

829,226

1,982,141

Depreciation

At 1 August 2024

616,813

85,463

659,378

1,361,654

Charge for year

57,118

8,114

99,692

164,924

Eliminated on disposal

(58,323

)

(1,262

)

(316,217

)

(375,802

)

At 31 July 2025

615,608

92,315

442,853

1,150,776

Net book value

At 31 July 2025

414,702

30,290

386,373

831,365

At 31 July 2024

350,426

29,233

163,451

543,110

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

Cost

At 1 August 2024

83,063

Additions

204,735

At 31 July 2025

287,798

Depreciation

At 1 August 2024

20,689

Charge for year

48,685

At 31 July 2025

69,374

Net book value

At 31 July 2025

218,424

At 31 July 2024

62,374

6.	Inventories

2025

2024

£

£

Goods for resale

349,521

387,619

7.

Receivables: amounts falling due within one year

2025

2024

£

£

Trade receivables

853,718

865,726

Amounts owed by group undertakings

792

-

Other receivables

64,099

104,120

918,609

969,846

8.	Cash at bank

2025

2024

£

£

Cash at bank and on hand

133,059

344,462

9.

Payables: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

10,511

10,252

Hire purchase contracts (see note 11)

63,460

28,673

Trade payables

720,285

867,167

Amounts owed to group undertakings

767

69,244

Taxation and social security

12,572

11,907

Other payables

186,801

181,478

994,396

1,168,721

Bank loans and overdrafts are secured by the following:

(a) Fixed charge over the book debts of the company.

(b) Floating charge over the company assets.

(c) Unlimited cross company guarantee from each of Thompson Fuels Limited and Thompson Property Holdings Limited in respect of the liabilities of each other to the bank.

10.

Payables: amounts falling due after more than one year

2025

2024

£

£

Bank loans

-

10,512

Hire purchase contracts (see note 11)

128,788

39,125

128,788

49,637

11.	Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

63,460

28,673

Between one and five years

128,788

39,125

192,248

67,798

Hire purchase liabilities are secured on motor vehicles with a net book value of £218,424 (2024: £62,374).

12.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Accelerated capital allowances

206,778

135,202

Deferred tax

£

Balance at 1 August 2024

135,202

Charge to Statement of income and retained earnings during year

71,576

Balance at 31 July 2025

206,778

13.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300,000

Ordinary Shares

1

300,000

300,000

14.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Thompson Fuels Special Pension Fund

The trustees and members of Thompson Fuels Special Pension Fund include the directors of Thompson Fuels Limited. During the year the company paid contributions to the Thompson Fuels Special Pension Fund, on behalf of the directors in the sum of £100,000 (2024: £nil).

Directors

Remuneration paid to the directors for the year ended 31 July 2025 amounted to £27,288 (2024: £27,288)