Syston Service Station Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08718947 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

for

Syston Service Station Ltd

Page

Chartered Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

3

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Syston Service Station Ltd for the year ended 31 August 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Syston Service Station Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Syston Service Station Ltd and state those matters that we have agreed to state to the Board of Directors of Syston Service Station Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Syston Service Station Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Syston Service Station Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Syston Service Station Ltd. You consider that Syston Service Station Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Syston Service Station Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

9 May 2023

FIXED ASSETS

Tangible assets

4

-

73,748

CURRENT ASSETS

Stocks

-

80,031

Debtors

5

1,587

10,308

Cash at bank and in hand

725,517

118,533

727,104

208,872

CREDITORS

Amounts falling due within one year

6

237,881

149,681

NET CURRENT ASSETS

489,223

59,191

TOTAL ASSETS LESS CURRENT LIABILITIES

489,223

132,939

CREDITORS

Amounts falling due after more than one year

7

-

(41,614

)

PROVISIONS FOR LIABILITIES

-

(7,715

)

NET ASSETS

489,223

83,610

CAPITAL AND RESERVES

Called up share capital

80

80

Capital redemption reserve

20

20

Retained earnings

489,123

83,510

489,223

83,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2023 and were signed on its behalf by:

C E Masters - Director

1.	STATUTORY INFORMATION

Syston Service Station Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08718947

Registered office:

Nidd House

1 Lilac Drive

Lutterworth

Leicestershire

LE17 4FP

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible fixed assets

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

Fixtures and fittings

-

10 years & 25 years straight line

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern

The company sold its trading business in August 2022, and from that date onwards ceased trading. The accounts are not prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2021

193,066

Disposals

(193,066

)

At 31 August 2022

-

DEPRECIATION

At 1 September 2021

119,318

Charge for year

24,702

Eliminated on disposal

(144,020

)

At 31 August 2022

-

NET BOOK VALUE

At 31 August 2022

-

At 31 August 2021

73,748

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,507

-

Other debtors

80

10,308

1,587

10,308

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

8,386

Trade creditors

71,554

82,813

Taxation and social security

162,709

55,662

Other creditors

3,618

2,820

237,881

149,681

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

41,614

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

5,020

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

-

120,000

Between one and five years

-

480,000

In more than five years

-

840,000

-

1,440,000

9.	SECURED DEBTS

The bank loan was previously secured by a guarantee granted by the directors and a debenture granted by the company. The loan was fully repaid during the current financial year.