Palfrey Service Station Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2

Registered number: 02254103

		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	133		5,954

		133		5,954
Creditors: Amounts Falling Due Within One Year	5	-		(5,821 )

NET CURRENT ASSETS (LIABILITIES)			133		133

TOTAL ASSETS LESS CURRENT LIABILITIES			133		133

NET ASSETS			133		133

CAPITAL AND RESERVES
Called up share capital	6		40,004		40,004
Profit and Loss Account			(39,871 )		(39,871 )

SHAREHOLDERS' FUNDS			133		133

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A F Evans

Director

31 March 2026

The notes on page 2 form part of these financial statements.

1. General Information

Palfrey Service Station Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02254103 . The registered office is 33 Wolverhampton Road, Cannock, WS11 1AP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2025: 1)

4. Debtors

	2026	2025
	£	£
Due within one year
Amounts owed by group undertakings	133	5,954

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other creditors	-	5,821

6. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	40,004	40,004

7. Contingent Liabilities

In 2011 and 2012 the company made contributions from its profits in to an employer funded retirement benefit scheme. Some years later and after the company had ceased trading, HMRC contended that these amounts should be subject to PAYE and NIC, seeking amounts totalling £298,838 in respect of the transactions. The director had received contemporaneous advice from specialist tax advisors and legal counsel that no tax was payable and made full and transparent disclosures of all matters.

The director has continued his attempt to get these matters resolved so that the company can be brought to an orderly closure but has now received further assessments and notices for advance payments of tax of £132,812 using subsequent legislation in respect of an investment by the company of it's surplus funds during it's trading period, despite the company having received specialist advice at the time including sight of correspondence from HMRC confirming the tax treatment used.

Whilst the director has continued to personally finance these attempts to bring the matter to a conclusion, should HMRC pursue collection of these advance payments the company will have insufficient funds to make such payments and be forced into compulsory liquidation.

8. Related Party Transactions

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.

9. Ultimate Controlling Party

The company is controlled by the director who is the shareholder.

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