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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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A.D. FUEL OILS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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FOR |
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A.D. FUEL OILS LIMITED |
A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A.D. FUEL OILS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Rae House |
Dane Street |
Bishops Stortford |
Herts |
CM23 3BT |
A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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BALANCE SHEET |
31 MARCH 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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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 | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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BALANCE SHEET - continued |
31 MARCH 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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1. | STATUTORY INFORMATION |
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A.D. Fuel Oils Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold properties | - |
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Equipment | - |
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Motor vehicles | - |
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Lorries | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
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Debt instruments are subsequently measured at amortised cost. |
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Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred upon normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
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Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Deferred taxation |
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Freehold | Motor |
properties | Equipment | vehicles | Lorries | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2020 |
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Additions |
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Disposals |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 31 March 2021 is represented by: |
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Freehold | Motor |
properties | Equipment | vehicles | Lorries | Totals |
£ | £ | £ | £ | £ |
Valuation in 2016 | 432,984 | - | - | - | 432,984 |
Valuation in 2017 | 5,000 | - | - | - | 5,000 |
Valuation in 2020 | 30,000 | - | - | - | 30,000 |
Cost | 217,016 | 210,655 | 30,166 | 545,204 | 1,003,041 |
685,000 | 210,655 | 30,166 | 545,204 | 1,471,025 |
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Freehold land and buildings were valued on an open market basis on 31 March 2021 by the director . |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles | Lorries | Totals |
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COST OR VALUATION |
At 1 April 2020 |
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Additions |
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Transfer to ownership | - | (107,415 | ) | (107,415 | ) |
At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Transfer to ownership | - | (98,464 | ) | (98,464 | ) |
At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
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Other debtors |
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A.D. FUEL OILS LIMITED (REGISTERED NUMBER: 01748979) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.21 | 31.3.20 |
£ | £ |
Hire purchase contracts | 166,685 | 134,358 |
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The hire purchase liabilities are secured by the related assets. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 April 2020 |
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1,314,368 |
Profit for the year |
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Dividends | ( |
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At 31 March 2021 |
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1,353,810 |