Company No: 02031709 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	189,044		230,742
Investment property	5	0		773,119
		189,044		1,003,861
Current assets
Stocks	6	361,271		212,934
Debtors	7	4,741,497		3,941,900
Cash at bank and in hand		1,281,375		1,317,890
		6,384,143		5,472,724
Creditors: amounts falling due within one year	8	( 451,340)		( 569,036)
Net current assets		5,932,803		4,903,688
Total assets less current liabilities		6,121,847		5,907,549
Provision for liabilities		( 38,920)		( 65,597)
Net assets		6,082,927		5,841,952
Capital and reserves
Called-up share capital		120		120
Share premium account		23,963		23,963
Profit and loss account		6,058,844		5,817,869
Total shareholder's funds		6,082,927		5,841,952

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Leswidden Common Fuel Depot Limited (registered number: 02031709) were approved and authorised for issue by the Board of Directors on 23 April 2026. They were signed on its behalf by:

Mr S N Semmens Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Leswidden Common Fuel Depot Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leswidden Common, St Just, Penzance, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer and turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		13

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 September 2024	65,680		65,680
At 31 August 2025	65,680		65,680
Accumulated amortisation
At 01 September 2024	65,680		65,680
At 31 August 2025	65,680		65,680
Net book value
At 31 August 2025	0		0
At 31 August 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 September 2024	95,341		504,481		605,846		5,338		1,211,006
Additions	0		0		29,950		0		29,950
Disposals	0		( 106,281)		( 190,127)		0		( 296,408)
At 31 August 2025	95,341		398,200		445,669		5,338		944,548
Accumulated depreciation
At 01 September 2024	63,020		472,727		439,179		5,338		980,264
Charge for the financial year	0		7,671		46,533		0		54,204
Disposals	0		( 96,827)		( 182,137)		0		( 278,964)
At 31 August 2025	63,020		383,571		303,575		5,338		755,504
Net book value
At 31 August 2025	32,321		14,629		142,094		0		189,044
At 31 August 2024	32,321		31,754		166,667		0		230,742

5. Investment property

	Investment property
	£
Valuation
As at 01 September 2024	773,119
Disposals	(773,119)
As at 31 August 2025	0

6. Stocks

	2025		2024
	£		£
Stocks	361,271		212,934

7. Debtors

	2025		2024
	£		£
Trade debtors	126,994		85,952
Other debtors	4,614,503		3,855,948
	4,741,497		3,941,900

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	162,533		274,075
Taxation and social security	183,598		183,876
Other creditors	105,209		111,085
	451,340		569,036

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	£		£
Elestren Ltd	3,959,547		3,586,692

The above balance is included within other debtors and relates to an interest free loan due from Elestren Ltd, the parent company.

Transactions with the entity's directors

	2025		2024
	£		£
Mr S N Semmens	0		54,525
Mr A M Semmens	0		43,662

Other related party transactions

	2025		2024
	£		£
Farrar Cottage Ltd	601,045		800

The above balance is included within other debtors and relates to an interest free loan due from Farrar Cottage Ltd, a company under common control.

During the year, an investment property was transferred by an interest free loan at its fair market value of £595,000, from Leswidden to Farrar.