Registration number: NI036803

Strangford Fuels Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Strangford Fuels Limited

Company Information

Directors

Mr C Milligan Mr G Milligan

Company secretary

Mrs M Milligan

Registered office

27 College Gardens Belfast BT9 6BS

Accountants

McKeague Morgan & Company Chartered Accountants27 College Gardens Belfast BT9 6BS

Strangford Fuels Limited

(Registration number: NI036803)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	120,000	-
Tangible assets	5	322,836	159,233
		442,836	159,233
Current assets
Stocks	6	92,595	85,713
Debtors	7	425,648	369,928
Cash at bank and in hand		793,301	996,663
		1,311,544	1,452,304
Creditors: Amounts falling due within one year	8	(489,465)	(309,762)
Net current assets		822,079	1,142,542
Total assets less current liabilities		1,264,915	1,301,775
Creditors: Amounts falling due after more than one year	8	(1,775)	-
Provisions for liabilities		(77,891)	(39,809)
Net assets		1,185,249	1,261,966
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,185,149	1,261,866
Total equity		1,185,249	1,261,966

For the financial year ending 30 September 2025 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 and 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 24 September 2026 and signed on its behalf by:
 

.........................................

Mr G Milligan

Director

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

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

The address of its registered office is:
27 College Gardens
Belfast
BT9 6BS
Northern Ireland

The principal place of business is:
Unit 2
Ballydugan Industrial Estate
14 Ballydugan Road
Downpatrick
Co Down
BT30 6TE
N. Ireland

These financial statements were authorised for issue by the Board on 24 September 2026.

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.

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.

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

2	Accounting policies (continued)

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.

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
Plant and machinery	20% straight line
Fixtures and fittings	20% straight line
Motor vehicles	20% 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:

Asset class	Amortisation method and rate
Goodwill	20% straight line

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

2	Accounting policies (continued)

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 weighted average 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

2	Accounting policies (continued)

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.

Financial instruments

Classification
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and investments in non-puttable shares.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable with one year), including loans and other accounts receivable and payable, are measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measureed initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment, if objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and best estimate and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet date when there is an enforceable right to set off the recognised amounts and there is an attention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 7).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
Additions acquired separately	150,000	150,000
At 30 September 2025	150,000	150,000
Amortisation
Amortisation charge	30,000	30,000
At 30 September 2025	30,000	30,000
Carrying amount
At 30 September 2025	120,000	120,000

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 October 2024	6,000	72,022	129,169	294,977	502,168
Additions	-	35,500	31,095	148,500	215,095
At 30 September 2025	6,000	107,522	160,264	443,477	717,263
Depreciation
At 1 October 2024	6,000	57,191	85,310	194,434	342,935
Charge for the year	-	8,828	21,967	20,697	51,492
At 30 September 2025	6,000	66,019	107,277	215,131	394,427
Carrying amount
At 30 September 2025	-	41,503	52,987	228,346	322,836
At 30 September 2024	-	14,831	43,859	100,543	159,233

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

6

Stocks

	2025 £	2024 £
Raw materials and consumables	92,595	85,713

7

Debtors

	2025 £	2024 £
Trade debtors	202,823	167,596
Other debtors	222,825	202,332
	425,648	369,928

8

Creditors

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	10	10,414	22,367
Trade creditors		164,567	151,241
Corporation tax liability		-	10,133
Taxation and social security		6,021	3,156
Other creditors		257,338	98,240
Accruals and deferred income		51,125	24,625
		489,465	309,762
Due after one year
Loans and borrowings	10	1,775	-

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Strangford Fuels Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

10	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,414	22,367

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,775	-

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	32,594	26,554
Contributions paid to money purchase schemes	58,895	-
	91,489	26,554