Registration number:
Seller Gas Limited
for the Year Ended 31 January 2026
Seller Gas Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Seller Gas Limited
Company Information
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Directors |
D J Coleman D L Coleman B Coleman |
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Registered office |
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Accountants |
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Seller Gas Limited
(Registration number: 06030974)
Balance Sheet as at 31 January 2026
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2026 |
2025 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Seller Gas Limited
(Registration number: 06030974)
Balance Sheet as at 31 January 2026
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Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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.
The presentation currency of the financial statements is the Pound Sterling (£).
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
Prior period errors
During the year, the company reassessed the useful economic life of its gas cylinders and concluded that the previous policy of 5 years did not reflect the actual economic life of the assets.
Gas cylinders are durable assets used repeatedly in operations over extended periods, with replacement typically only required in cases of damage or loss. Industry data and operational experience indicate significantly longer useful lives.
As a result, the useful economic life has been revised to 25 years.
In addition, it was identified that depreciation had been incorrectly applied in prior periods due to the use of an inappropriate useful life assumption. This has been treated as a prior period error under FRS 102.
The prior period adjustment has been applied to the last ten financial years, being the period for which reliable data was available.
This adjustment reflects the cumulative impact of correcting depreciation on qualifying additions made during the last ten financial years.
Management considers that, due to limitations in historic records, the total cumulative impact of prior period depreciation may be higher. However, only amounts that could be reliably quantified have been adjusted.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Tangible fixed assets | - | 4,008 | 116,855 |
Retained earnings | - | 4,008 | 116,855 |
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.
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.
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.
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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.
Tangible assets
Gas cylinders are stated at cost less accumulated depreciation and impairment.
Depreciation is provided on a straight-line basis over the estimated useful economic life of 25 years, reflecting the period over which the assets are expected to generate economic benefits through repeated use within the business.
Residual value is reviewed regularly and reflects the estimated recoverable value of cylinders at the end of their useful life based on continued internal use or disposal value.
Costs incurred to refurbish or overhaul gas cylinders are capitalised where it is probable that future economic benefits will arise and where such expenditure results in a significant extension of the asset’s useful economic life or service potential.
Where refurbishment extends the useful life of a cylinder, the cost is capitalised as a separate component of the asset and depreciated on a straight-line basis over the estimated incremental period of benefit, typically 10 years, representing the additional life attributable to the refurbishment.
Routine maintenance, statutory testing, and inspection costs that do not enhance or extend future economic benefits are recognised in profit or loss as incurred.
Other 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:
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Asset class |
Depreciation method and rate |
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Plant and equipment |
20% straight line |
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Office equipment |
20% reducing balance |
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Fixtures, Fitting and equipment |
20% reducing balance |
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Gas cylinders |
25 years straight line |
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 held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. 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:
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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Asset class |
Amortisation method and rate |
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Goodwill |
20 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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, 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 at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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.
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.
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.
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Taxation |
Tax charged/(credited) in the income statement
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2026 |
2025 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the income statement |
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Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 February 2025 |
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At 31 January 2026 |
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Amortisation |
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At 1 February 2025 |
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Amortisation charge |
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At 31 January 2026 |
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Carrying amount |
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At 31 January 2026 |
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At 31 January 2025 |
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 February 2025 |
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Additions |
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At 31 January 2026 |
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Depreciation |
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At 1 February 2025 |
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Charge for the year |
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At 31 January 2026 |
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Carrying amount |
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At 31 January 2026 |
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At 31 January 2025 |
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The Company owns approximately 20,000 gas cylinders which are included in Fixtures,Fitting & Equipment and have been depreciated. The directors consider that they have appreciated and have a value of approximately £100 each giving a total value of £2,000,000. The company has CO2 tanks and other gas equipment with an approximate value of £250,000.
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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Stocks |
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2026 |
2025 |
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Other inventories |
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Debtors |
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Note |
2026 |
2025 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Prepayments |
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Other debtors |
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- |
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Director loan account |
56,222 |
47,206 |
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Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Director loan account |
1,415 |
- |
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Creditors: amounts falling due after more than one year
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Note |
2026 |
2025 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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- |
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Hire purchase contracts |
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Current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
- |
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Hire purchase contracts |
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Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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Related party transactions |
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Transactions with directors |
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2026 |
At 1 February 2025 |
Advances to director |
Repayments by director |
At 31 January 2026 |
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D L Coleman |
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Directors Loan account |
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( |
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B Coleman |
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Directors Loan Account |
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D J Coleman |
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Other transactions with directors |
Interest is charged on overdrawn balances at the statutory rate and all loans are repaid within 9 months of the year end.
Summary of transactions with parent
ii) The company pays rent ( inclusive of rates and electricity) to DC ABC Limited of £ 14,400 p.a.
During the year, the parent company waived its entitlement to a dividend of £63,750 (2025: £60,563), which would otherwise have been payable by the company.
The waiver was made by a related party within the group and resulted in no cash outflow from the company.
Summary of transactions with other related parties
A partnership in which D L Coleman has an interest
Income and receivables from related parties
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2026 |
Key management |
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Amounts receivable from related party |
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2025 |
Parent |
Key management |
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Amounts receivable from related party |
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Expenditure with and payables to related parties
Seller Gas Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026
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2026 |
Parent |
Other related parties |
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Rendering of services |
- |
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Leases |
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- |
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Amounts payable to related party |
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- |
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2025 |
Parent |
Other related parties |
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Rendering of services |
- |
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Leases |
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- |
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from The Old Tram Depot
161 Bexhill Road
St Leonard on Sea
East Sussex
TN38 8BG