REGISTERED NUMBER: 03536139 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 SEPTEMBER 2025

FOR

GANNON OILS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M J Gannon

SECRETARY:

Mrs J S Gannon

REGISTERED OFFICE:

Sovereign Court, Unit 6

Wyrefields

Poulton Industrial Estate

Poulton - le - Fylde

Lancashire

FY6 8JX

REGISTERED NUMBER:

03536139 (England and Wales)

ACCOUNTANTS:

JT2 Accountants

5 Crescent East

Thornton Cleveleys

Lancashire

FY5 3LJ

FIXED ASSETS

Tangible assets

4

30,436

37,215

CURRENT ASSETS

Stocks

290,575

298,275

Debtors

5

287,729

274,131

Cash at bank

27,407

-

605,711

572,406

CREDITORS

Amounts falling due within one year

6

402,016

364,697

NET CURRENT ASSETS

203,695

207,709

TOTAL ASSETS LESS CURRENT LIABILITIES

234,131

244,924

CREDITORS

Amounts falling due after more than one year

7

-

(3,901

)

PROVISIONS FOR LIABILITIES

(2,613

)

(2,613

)

NET ASSETS

231,518

238,410

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

231,516

238,408

SHAREHOLDERS' FUNDS

231,518

238,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2026 and were signed by:

Mr M J Gannon - Director

1.	STATUTORY INFORMATION

Gannon Oils Ltd 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.

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks 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 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 29 September 2024

and 28 September 2025

40,474

33,670

144,010

218,154

DEPRECIATION

At 29 September 2024

26,014

31,450

123,475

180,939

Charge for year

2,089

452

4,238

6,779

At 28 September 2025

28,103

31,902

127,713

187,718

NET BOOK VALUE

At 28 September 2025

12,371

1,768

16,297

30,436

At 28 September 2024

14,460

2,220

20,535

37,215

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

235,857

202,355

Other debtors

51,872

71,776

287,729

274,131

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

18,698

44,545

Trade creditors

308,822

226,537

Taxation and social security

57,034

79,898

Other creditors

17,462

13,717

402,016

364,697

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

3,901

8.	RELATED PARTY DISCLOSURES

The company was under the control of Mr Mark Gannon and Mrs Julie Gannon for the current and previous years and they each hold 50% of the shares in the company.