REGISTERED NUMBER: 04170731 (England and Wales)

Southern Fuels Limited

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C D Lamont

N D Smith

M R Wayne

REGISTERED OFFICE:

Oak Tree Arena

Bristol Road

Highbridge

Somerset

TA9 4HA

REGISTERED NUMBER:

04170731 (England and Wales)

AUDITORS:

Maxwells

Chartered Accountants

and Statutory Auditor

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Lloyds Bank plc

82 High Street

Honiton

Devon

EX14 1JJ

FIXED ASSETS

Tangible assets

5

178,624

99,757

CURRENT ASSETS

Debtors

505,110

597,728

Cash at bank and in hand

1,005,762

873,278

1,510,872

1,471,006

CREDITORS

Amounts falling due within one year

1,046,870

1,063,792

NET CURRENT ASSETS

464,002

407,214

TOTAL ASSETS LESS CURRENT LIABILITIES

642,626

506,971

CREDITORS

Amounts falling due after more than one year

(76,628

)

-

PROVISIONS FOR LIABILITIES

(44,656

)

(19,512

)

NET ASSETS

521,342

487,459

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

521,242

487,359

SHAREHOLDERS' FUNDS

521,342

487,459

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2025 and were signed on its behalf by:

N D Smith - Director

M R Wayne - Director

1.	STATUTORY INFORMATION

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

The principal activity of the company in the year under review was that of fuel distributors.

The functional and presentation currency of the company is sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The company's trading remains strong and with robust risk management procedures and adequate funding in place the directors are satisfied that the company is adequately resourced to continue in operational existence for the foreseeable future. Accordingly, the directors will continue to adopt the going concern basis in preparing the 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.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership has transferred to the buyer which is usually at the point that the customer has taken delivery.

Tangible fixed assets

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 etc

-

25% on reducing balance, 15% on reducing balance and over life of lease

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 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.

Accounting estimates and judgements

The directors consider there to be no estimates or judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

396,908

Additions

134,435

Disposals

(122,333

)

At 31 March 2025

409,010

DEPRECIATION

At 1 April 2024

297,151

Charge for year

27,558

Eliminated on disposal

(94,323

)

At 31 March 2025

230,386

NET BOOK VALUE

At 31 March 2025

178,624

At 31 March 2024

99,757

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

Totals

£

COST

Additions

134,435

At 31 March 2025

134,435

DEPRECIATION

Charge for year

27,792

At 31 March 2025

27,792

NET BOOK VALUE

At 31 March 2025

106,643

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

24,198

-

Between one and five years

76,628

-

100,826

-

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

20,400

19,200

Between one and five years

40,800

61,200

61,200

80,400

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

100,826

-

Hire purchase contracts are secured over the assets to which they relate.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Littler FCA (Senior Statutory Auditor)

for and on behalf of Maxwells

9.	CONTINGENT LIABILITIES

Stock is owned by the parent company and recharged. All monies owed to BWOC Limited in respect of fuel which has been delivered to Southern Fuels Limited is secured by a separate debenture between this company and BWOC Limited and included within the parent company's account with BWOC Limited.

10.	CAPITAL COMMITMENTS

31.3.25

31.3.24

£

£

Contracted but not provided for in the

financial statements

-

134,435

11.	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.

The company also traded with Western Boiler Services Limited, a company controlled by the directors. During the year the company purchased services amounting to £88,955 (2024: £81,230) from this company. At the year end this related party was owed £6,054 (2024: £4,844).

12.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company and controlling related party is Western Fuel Limited, a company registered in the UK.

The company's ultimate holding company is Western Fuel Holdings Limited, a company registered in the UK.

Western Fuel Holdings Limited is the parent undertaking of the largest and smallest group for which Southern Fuels Limited is a member and for which group consolidated financial statements are drawn. Copies of the consolidated financial statements in respect of Western Fuel Holdings Limited can be obtained from the company's registered office at Oak Tree Arena, Bristol Road, Highbridge, Somerset, TA9 4HA.

The ultimate controlling party is N D Smith