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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
COMPANY INFORMATION
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MIDLAND MOTOR FUELS LTD
CONTENTS
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MIDLAND MOTOR FUELS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their Strategic Report for Midland Motor Fuels Limited Limited for the year ended 31 March 2025.
The company generated turnover of £30,467,101 during the year (2024: £24,882,424). Profit before taxation amounted to £658,979 (2024: £817,458).
The directors consider the company's performance during the year to be satisfactory despite continuing challenges within the fuel retail sector. Fuel volumes remained stable and sales from the convenience store continued to provide an important source of revenue and profitability. The company continues to focus on: - maintaining competitive fuel pricing; - expanding convenience retail sales; - controlling operating costs; - improving customer service; and - ensuring compliance with health, safety and environmental regulations. The directors believe the company remains well positioned within its local market and has maintained a loyal customer base.
The principal risks and uncertainties facing the company include:
Fuel Price Volatility Changes in global oil prices and fuel supply markets can affect retail fuel margins and consumer demand. The directors monitor fuel pricing closely and adjust retail prices accordingly. Competition The company faces competition from other fuel retailers, supermarkets and local convenience stores. Management seeks to differentiate the business through customer service, product range and site convenience. Economic Conditions Changes in inflation, interest rates and general consumer spending patterns may affect demand for fuel and shop sales. The directors regularly review operating costs and pricing policies to mitigate these risks. Regulatory and Environmental Compliance The operation of a petrol filling station is subject to significant health, safety and environmental regulation. Failure to comply could result in financial penalties or reputational damage. The directors maintain appropriate procedures and training programmes to ensure compliance.
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MIDLAND MOTOR FUELS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors monitor the performance of the business using a range of financial and non-financial key performance indicators, including:
- Turnover growth - Gross profit margin - Fuel volumes sold - Convenience store sales performance - Operating profit - Cash generation and liquidity - Health and safety compliance metrics These indicators are reviewed regularly by management and used to assess operational performance and strategic progress.
This report was approved by the board on 9 October 2026 and signed on its behalf.
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MIDLAND MOTOR FUELS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £496,441 (2024 - £513,181).
The directors who served during the year were:
The directors intend to continue investing in the station's retail offering and operational efficiency. Opportunities to expand shop sales, introduce additional services and improve site facilities will continue to be evaluated where commercially viable.
The directors remain confident that the company is well placed to continue trading successfully in the foreseeable future.
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MIDLAND MOTOR FUELS LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors recognise that employees are central to the company's ongoing success. The company is committed to providing a safe working environment, encouraging staff development and maintaining effective communication with employees at all levels. Employee feedback and engagement are considered important in supporting operational performance and customer satisfaction.
The auditors, RMY Clements Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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MIDLAND MOTOR FUELS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND MOTOR FUELS LTD
We have audited the financial statements of Midland Motor Fuels Ltd (the 'Company') for the year ended 31 March 2025, which comprise the Statement of income and retained earnings, the Balance sheet, the Statement of cash flows, the Analysis of net debt and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
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MIDLAND MOTOR FUELS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND MOTOR FUELS LTD (CONTINUED)
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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MIDLAND MOTOR FUELS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND MOTOR FUELS LTD (CONTINUED)
- considered the nature of the industry and sector, control environment and business performance; - considered the results of our enquiries of management about their own identification and assessment of the risks of irregularities; - considered the opportunities and incentives that may exist within the organisation for fraud; - performed specific procedures to respond to the risk common with all audits under ISA's of management override; - considered the legal and regulatory frameworks the Company operates in, including UK Companies Act, local tax legislation and health and safety law; - discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the areas of management override of controls and revenue recognition. We designed and executed procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, including fraud, are detailed below: - We made enquiries of management and reviewed correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations and to identify any irregularities or instances of fraud; - We tested the appropriateness of a sample of accounting journals; - We reviewed the Company’s accounting policies for non-compliance with relevant accounting standards; - We considered significant accounting estimates for evidence of misstatement; and - We considered the appropriateness of the revenue recognition policies.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
The financial statements for the year ended 31 December 2024 were not audited by us and we therefore do not
express an opinion or any other form of assurance on them.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
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MIDLAND MOTOR FUELS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MIDLAND MOTOR FUELS LTD (CONTINUED)
for and on behalf of
Statutory Auditors
Sterling House
71 Francis Road
Edgbaston
B16 8SP
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MIDLAND MOTOR FUELS LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
REGISTERED NUMBER: 08911875
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 26 form part of these financial statements.
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MIDLAND MOTOR FUELS LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 08911875. The Company's registered office is 288-298 Tyburn Rd, Birmingham, B24 8LY.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1. The principal activity of the company in the period under review was the operation of petrol stations.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The directors have prepared the accounts on a going concern basis.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. The following judgments have had the most significant effect on the amounts recognised in the financial statements: Depreciation Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets. Residual value and useful life assessments consider issues such as future market conditions, the remaining life of the asset and maintenance programmes.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
9.Taxation (continued)
There were no factors that may affect future tax charges.
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MIDLAND MOTOR FUELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company is party to a bank loan charge which contains fixed and floating charges and is secured against the property of the company.
The Company operates defined contributions pension schemes. The assets of the schemes are held seperately from those of the Company in independently administered funds. Contributions totalling £8,189 (2024 - £7,453) were payable to the funds at the balance sheet date.
23.Directors' personal guarantees
The director has guaranteed for Fuel Bond to Esso for £85,000 (2024:£85,000) and this is renewable on the anniversary of the fuel supply contract.
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