Cambrian Fuelcard Services Limited - Accounts to registrar (filleted) - small 18.2
Cambrian Fuelcard Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Cambrian Fuelcard Services Limited |
| Audited Financial Statements for the Year Ended 31 December 2019 |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Cambrian Fuelcard Services Limited |
| Company Information |
| for the Year Ended 31 December 2019 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| 7 Neptune Court |
| Vanguard Way |
| Cardiff |
| CF24 5PJ |
| Bankers: |
| Bute Street |
| Cardiff |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
10 |
( |
) |
| Provisions for liabilities | 11 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 12 |
| Other reserves | 13 |
| Retained earnings | 13 |
| Shareholders' funds |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | Statutory information |
| Cambrian Fuelcard Services Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| Turnover |
| Turnover represents amounts chargeable net of value added tax, in respect of the sale of petroleum and associated commissions and royalties. |
| Goodwill |
| Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable. |
| Tangible fixed assets |
| Motor vehicles | - |
| Office equipment | - |
| 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. |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 2. | Accounting policies - continued |
| 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. |
| Fixed asset investments |
| Fixed asset investments are stated at historical cost less provision for any diminution in value. |
| 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 shorter. |
| The interest element of those obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Goodwill |
| £ |
| Cost |
| At 1 January 2019 |
| and 31 December 2019 |
| Amortisation |
| At 1 January 2019 |
| and 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| At 31 December 2018 |
| 5. | Tangible fixed assets |
| Fixtures |
| Short | and | Motor | Office |
| leasehold | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| Depreciation |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| At 31 December 2018 |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 5. | Tangible fixed assets - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| Cost |
| Additions |
| At 31 December 2019 |
| Depreciation |
| Charge for year |
| At 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| 6. | Fixed asset investments |
| Other |
| investments |
| £ |
| Cost |
| At 1 January 2019 |
| and 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| At 31 December 2018 |
| 7. | Stocks |
| 2019 | 2018 |
| £ | £ |
| Stocks |
| 8. | Debtors: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 35,974 | 43,845 |
| Prepayments |
| 9. | Creditors: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | 38,172 | 4,797 |
| Other creditors |
| Directors' current accounts | 117,452 | 58,280 |
| Accrued expenses |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 10. | Creditors: amounts falling due after more than one year |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| 11. | Provisions for liabilities |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 1,713 | 3,712 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2019 |
| Utilised during year | ( |
) |
| Balance at 31 December 2019 |
| 12. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary A | £1 | 240 | 240 |
| Ordinary B | £1 | 60 | 60 |
| 300 | 300 |
| 13. | Reserves |
| Retained | Other |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 January 2019 | 592,219 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2019 | 585,305 |
| 14. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Cambrian Fuelcard Services Limited (Registered number: 01259685) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 15. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 December 2019 and 31 December 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| There is no fixed repayment dates on the loan accounts and no interest is charged. |