31/01/2021
2021-01-31
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2020-02-01
Sage Accounts Production 2020 Update 1 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
02676455
2020-02-01
2021-01-31
02676455
2021-01-31
02676455
2020-01-31
02676455
2019-02-01
2020-01-31
02676455
2020-01-31
02676455
bus:RegisteredOffice
2020-02-01
2021-01-31
02676455
bus:OrdinaryShareClass1
2020-02-01
2021-01-31
02676455
bus:OrdinaryShareClass2
2020-02-01
2021-01-31
02676455
bus:LeadAgentIfApplicable
2020-02-01
2021-01-31
02676455
bus:Director1
2020-02-01
2021-01-31
02676455
bus:CompanySecretary1
2020-02-01
2021-01-31
02676455
core:NetGoodwill
2021-01-31
02676455
core:PlantMachinery
2020-01-31
02676455
core:FurnitureFittingsToolsEquipment
2020-01-31
02676455
core:MotorVehicles
2020-01-31
02676455
core:PlantMachinery
2021-01-31
02676455
core:FurnitureFittingsToolsEquipment
2021-01-31
02676455
core:MotorVehicles
2021-01-31
02676455
core:WithinOneYear
2021-01-31
02676455
core:WithinOneYear
2020-01-31
02676455
core:PlantMachinery
2020-02-01
2021-01-31
02676455
core:FurnitureFittingsToolsEquipment
2020-02-01
2021-01-31
02676455
core:MotorVehicles
2020-02-01
2021-01-31
02676455
core:ShareCapital
2021-01-31
02676455
core:ShareCapital
2020-01-31
02676455
core:RetainedEarningsAccumulatedLosses
2021-01-31
02676455
core:RetainedEarningsAccumulatedLosses
2020-01-31
02676455
bus:OrdinaryShareClass1
core:ShareCapital
2021-01-31
02676455
bus:OrdinaryShareClass1
core:ShareCapital
2020-01-31
02676455
bus:OrdinaryShareClass2
core:ShareCapital
2021-01-31
02676455
bus:OrdinaryShareClass2
core:ShareCapital
2020-01-31
02676455
core:NetGoodwill
2020-01-31
02676455
core:PlantMachinery
2020-01-31
02676455
core:FurnitureFittingsToolsEquipment
2020-01-31
02676455
core:MotorVehicles
2020-01-31
02676455
bus:SmallEntities
2020-02-01
2021-01-31
02676455
bus:AuditExemptWithAccountantsReport
2020-02-01
2021-01-31
02676455
bus:FullAccounts
2020-02-01
2021-01-31
02676455
bus:SmallCompaniesRegimeForAccounts
2020-02-01
2021-01-31
02676455
bus:PrivateLimitedCompanyLtd
2020-02-01
2021-01-31
Horspath Service Station Limited
Filleted accounts
31 January 2021
Company registration number:
02676455
Horspath Service Station Limited
Directors and other information
|
|
|
|
Director
|
J M Bullock
|
|
|
|
|
|
|
|
Secretary
|
Mrs C Bullock
|
|
|
|
|
|
|
|
Company number
|
02676455
|
|
|
|
|
|
|
|
Registered office
|
The Old Dairy
|
|
|
12 Stephen Road
|
|
|
Headington
|
|
|
Oxford
|
|
|
OX3 9AY
|
|
|
|
|
|
|
|
Accountants
|
Cox Hinkins & Co. Limited
|
|
|
Accountants and Taxation Advisors
|
|
|
The Old Dairy
|
|
|
12 Stephen Road
|
|
|
Headington
|
|
|
Oxford
|
|
|
OX3 9AY
|
|
|
|
Horspath Service Station Limited
Balance sheet
31st January 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
6
|
16,173
|
|
|
|
9,395
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
16,173
|
|
|
|
9,395
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
4,903
|
|
|
|
3,810
|
|
|
Debtors
|
|
7
|
4,116
|
|
|
|
5,768
|
|
|
Cash at bank and in hand
|
|
|
110,236
|
|
|
|
122,788
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
119,255
|
|
|
|
132,366
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
15,556)
|
|
|
|
(
30,400)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
103,699
|
|
|
|
101,966
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
119,872
|
|
|
|
111,361
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
2,502)
|
|
|
|
(
1,184)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
117,370
|
|
|
|
110,177
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
9
|
|
|
500
|
|
|
|
500
|
Profit and loss account
|
|
|
|
|
116,870
|
|
|
|
109,677
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
117,370
|
|
|
|
110,177
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 September 2021
, and are signed on behalf of the board by:
J M Bullock
Director
Company registration number:
02676455
Horspath Service Station Limited
Notes to the financial statements
Year ended 31st January 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be that of a petrol filling station and service and MOT's of motor vehicles.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Plant and machinery
|
-
|
Reducing balance basis at 25% per annum
|
|
Fixtures, fittings and equipment
|
-
|
Reducing balance basis at 25% per annum and straight line over 4 years
|
|
Motor vehicles
|
-
|
Reducing balance basis at 25% per annum
|
|
|
|
|
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2020:
3
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1st February 2020 and 31st January 2021
|
24,500
|
24,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1st February 2020 and 31st January 2021
|
24,500
|
24,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31st January 2021
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31st January 2020
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1st February 2020
|
38,663
|
12,508
|
6,195
|
57,366
|
|
|
|
|
Additions
|
10,161
|
-
|
2,800
|
12,961
|
|
|
|
|
Disposals
|
-
|
-
|
(
2,500)
|
(
2,500)
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st January 2021
|
48,824
|
12,508
|
6,495
|
67,827
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1st February 2020
|
32,658
|
10,299
|
5,013
|
47,970
|
|
|
|
|
Charge for the year
|
2,298
|
1,047
|
339
|
3,684
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st January 2021
|
34,956
|
11,346
|
5,352
|
51,654
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31st January 2021
|
13,868
|
1,162
|
1,143
|
16,173
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st January 2020
|
6,005
|
2,209
|
1,182
|
9,396
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
3,085
|
5,740
|
|
Other debtors
|
|
1,031
|
28
|
|
|
|
_______
|
_______
|
|
|
|
4,116
|
5,768
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
3,030
|
11,167
|
|
Social security and other taxes
|
|
3,616
|
10,275
|
|
Other creditors
|
|
8,910
|
8,958
|
|
|
|
_______
|
_______
|
|
|
|
15,556
|
30,400
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary
shares of £
1.00 each
|
|
300
|
|
300
|
|
300
|
|
300
|
|
200 Non voting ordinary shares
shares of £
1.00 each
|
|
200
|
|
200
|
|
200
|
|
200
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
500
|
|
500
|
|
500
|
|
500
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The company is under the control of
J M Bullock
and Mrs C Bullock
who own 100% of the issued voting shares acting in concert.