Tincknell Fuels (Holdings) Limited - Limited company accounts 20.1

REGISTERED NUMBER: 05769880 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

TINCKNELL FUELS (HOLDINGS) LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Statement of Comprehensive Income

7

Consolidated Balance Sheet

8

Company Balance Sheet

9

Consolidated Statement of Changes in Equity

10

Company Statement of Changes in Equity

11

Consolidated Cash Flow Statement

12

Notes to the Consolidated Cash Flow Statement

13

Notes to the Consolidated Financial Statements

14

DIRECTORS:

P F Tincknell

Mrs J M Tincknell

SECRETARY:

P F Tincknell

REGISTERED OFFICE:

Cathedral View Offices

19 Wookey Hole Road

Wells

Somerset

BA5 2BT

REGISTERED NUMBER:

05769880 (England and Wales)

AUDITORS:

Gordon Wood Scott & Partners Limited

Statutory Auditors

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

The directors present their strategic report of the company and the group for the year ended 30 April 2022.

REVIEW OF BUSINESS

The principal activities of the group continue to be the sale and distribution of oil products and the provision of heating services.

The profit for the year after deducting taxation of £526,695 was £1,851,444, which after interim dividends of £550,000 leaves £1,301,444 to be added to reserves.

Global oil prices were climbing slowly during the year up to March 2022 when there was a very significant rise caused by the war in Ukraine. The average price per litre achieved in the year was 62% above the average for the previous year and there was an increase in the quantity of litres sold. The resulting increase in turnover lead to an increase in the Oil Distribution Division gross profit of 37%.

The Heating Services Division saw an increase in turnover of 18% returning to pre-Covid levels resulting in an increase in profit contribution of £95,030.

The Board continues to monitor costs closely, Distribution costs in the year were slightly up on the previous year and Administration costs increased by £269,316 due to increased personnel costs, credit card fees and general cost increases.

The group's Head Office premises in Wells was purchased at the end of the year and the group also made significant investments in upgrading its oil storage facilities at its two main distribution depots.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks to the group identified by the directors relate to the supply and price of oil and to climate change. The price of oil has clearly been affected by the war in Ukraine and previously by the Coronavirus pandemic, those events along with similar events in the future and naturally occurring or other disasters are likely to affect the business.

The group's results are also very dependent on weather conditions, cold weather conditions can be expected to lead to an increase in turnover and profit.

FUTURE DEVELOPMENTS

The profit for the year to 30 April 2023 is substantially dependent upon the weather during the winter period.

ON BEHALF OF THE BOARD:

P F Tincknell - Director

26 September 2022

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2022.

DIVIDENDS

Dividends amounting to £550,000 were paid to shareholders in the year (2021: £250,000). The directors do not recommend payment of a final dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2021 to the date of this report.

P F Tincknell

Mrs J M Tincknell

DISCLOSURE IN THE STRATEGIC REPORT

Future developments of the business are discussed in the Strategic Report.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Gordon Wood Scott & Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P F Tincknell - Director

26 September 2022

Opinion

We have audited the financial statements of Tincknell Fuels (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2022 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2022 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 group's and the parent 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the group and parent company through discussions with directors and other management and from our commercial knowledge and experience of the oil distribution and heating services sectors;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and parent company, including the Companies Act 2006, taxation legislation, environmental, health and safety legislation and vehicle operators' licences;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group's and of the parent company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims;

-

reviewing the company's legal expenses.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

Use of our report

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 a Report of the Auditors 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.

Richard Williams (Senior Statutory Auditor)

for and on behalf of Gordon Wood Scott & Partners Limited

Statutory Auditors

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

27 September 2022

TURNOVER

3

31,654,841

19,632,908

Cost of sales

(25,500,807

)

(15,139,995

)

GROSS PROFIT

6,154,034

4,492,913

Distribution costs

(1,354,124

)

(1,301,728

)

Administrative expenses

(2,406,574

)

(2,137,258

)

2,393,336

1,053,927

Other operating income

116,602

161,769

OPERATING PROFIT

6

2,509,938

1,215,696

Interest receivable and similar income

291

164

2,510,229

1,215,860

Interest payable and similar expenses

7

(132,090

)

(125,959

)

PROFIT BEFORE TAXATION

2,378,139

1,089,901

Tax on profit

8

(526,695

)

(225,855

)

PROFIT FOR THE FINANCIAL YEAR

1,851,444

864,046

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,851,444

864,046

Profit attributable to:

Owners of the parent

1,851,444

864,046

Total comprehensive income attributable to:

Owners of the parent

1,851,444

864,046

FIXED ASSETS

Tangible assets

11

2,498,599

1,509,960

Investments

12

-

-

Investment property

13

2,329,000

1,025,000

4,827,599

2,534,960

CURRENT ASSETS

Stocks

14

1,071,551

461,367

Debtors

15

3,666,906

1,801,188

Cash at bank

5,048,335

6,456,728

9,786,792

8,719,283

CREDITORS

Amounts falling due within one year

16

(6,992,985

)

(5,007,121

)

NET CURRENT ASSETS

2,793,807

3,712,162

TOTAL ASSETS LESS CURRENT LIABILITIES

7,621,406

6,247,122

CREDITORS

Amounts falling due after more than one year

17

(146,433

)

(240,110

)

PROVISIONS FOR LIABILITIES

20

(783,910

)

(617,393

)

NET ASSETS

6,691,063

5,389,619

CAPITAL AND RESERVES

Called up share capital

21

330,180

330,180

Other reserves

22

282,468

282,468

Profit and Loss Account

22

6,078,415

4,776,971

SHAREHOLDERS' FUNDS

6,691,063

5,389,619

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2022 and were signed on its behalf by:

P F Tincknell - Director

Mrs J M Tincknell - Director

FIXED ASSETS

Tangible assets

11

-

-

Investments

12

1,348,018

1,348,018

Investment property

13

1,420,000

1,420,000

2,768,018

2,768,018

CREDITORS

Amounts falling due within one year

16

(1,897,982

)

(1,897,982

)

NET CURRENT LIABILITIES

(1,897,982

)

(1,897,982

)

TOTAL ASSETS LESS CURRENT LIABILITIES

870,036

870,036

PROVISIONS FOR LIABILITIES

20

(20,976

)

(15,942

)

NET ASSETS

849,060

854,094

CAPITAL AND RESERVES

Called up share capital

21

330,180

330,180

Profit and Loss Account

518,880

523,914

SHAREHOLDERS' FUNDS

849,060

854,094

Company's profit for the financial year

544,966

250,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2022 and were signed on its behalf by:

P F Tincknell - Director

Mrs J M Tincknell - Director

Called up

Profit

share

and Loss

Other

Total

capital

Account

reserves

equity

£

£

£

£

Balance at 1 May 2020

330,180

4,162,925

282,468

4,775,573

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

864,046

-

864,046

Balance at 30 April 2021

330,180

4,776,971

282,468

5,389,619

Changes in equity

Dividends

-

(550,000

)

-

(550,000

)

Total comprehensive income

-

1,851,444

-

1,851,444

Balance at 30 April 2022

330,180

6,078,415

282,468

6,691,063

Called up

Profit

share

and Loss

Total

capital

Account

equity

£

£

£

Balance at 1 May 2020

330,180

523,914

854,094

Changes in equity

Dividends

-

(250,000

)

(250,000

)

Total comprehensive income

-

250,000

250,000

Balance at 30 April 2021

330,180

523,914

854,094

Changes in equity

Dividends

-

(550,000

)

(550,000

)

Total comprehensive income

-

544,966

544,966

Balance at 30 April 2022

330,180

518,880

849,060

Cash flows from operating activities

Cash generated from operations

1

1,484,970

2,349,343

Interest paid

(25,501

)

(16,123

)

Interest element of hire purchase payments paid

(13,536

)

(22,279

)

Finance costs paid

(91,050

)

(91,050

)

Government grants

3,751

65,591

Tax paid

(229,579

)

(203,135

)

Net cash from operating activities

1,129,055

2,082,347

Cash flows from investing activities

Purchase of tangible fixed assets

(939,480

)

(135,720

)

Purchase of investment property

(1,345,353

)

-

Sale of tangible fixed assets

47,000

73,561

Interest received

291

164

Net cash from investing activities

(2,237,542

)

(61,995

)

Cash flows from financing activities

HP finance in year

(178,444

)

91,068

Amount introduced by directors

428,538

-

Amount withdrawn by directors

-

(797,285

)

Equity dividends paid

(550,000

)

(250,000

)

Net cash from financing activities

(299,906

)

(956,217

)

(Decrease)/increase in cash and cash equivalents

(1,408,393

)

1,064,135

Cash and cash equivalents at beginning of year

2

6,456,728

5,392,593

Cash and cash equivalents at end of year

2

5,048,335

6,456,728

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.4.22

30.4.21

£

£

Profit before taxation

2,378,139

1,089,901

Depreciation charges

274,317

307,216

Profit on disposal of fixed assets

(19,769

)

(57,654

)

Loss on revaluation of fixed assets

41,353

-

Government grants

(3,751

)

(65,591

)

Finance costs

132,090

125,959

Finance income

(291

)

(164

)

2,802,088

1,399,667

Increase in stocks

(610,184

)

(12,669

)

Increase in trade and other debtors

(1,862,118

)

(256,987

)

Increase in trade and other creditors

1,155,184

1,219,332

Cash generated from operations

1,484,970

2,349,343

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2022

30.4.22

1.5.21

£

£

Cash and cash equivalents

5,048,335

6,456,728

Year ended 30 April 2021

30.4.21

1.5.20

£

£

Cash and cash equivalents

6,456,728

5,392,593

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.21

Cash flow

At 30.4.22

£

£

£

Net cash

Cash at bank

6,456,728

(1,408,393

)

5,048,335

6,456,728

(1,408,393

)

5,048,335

Debt

Finance leases

(418,554

)

178,444

(240,110

)

Debts falling due within 1 year

(1,315,000

)

-

(1,315,000

)

(1,733,554

)

178,444

(1,555,110

)

Total

4,723,174

(1,229,949

)

3,493,225

1.	STATUTORY INFORMATION

Tincknell Fuels (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Strategic Report on page 2.

A budget is prepared every March and progress is monitored in the monthly management accounts. The company meets its day-to-day working capital requirements using its own funds.

The directors, having considered profitability and working capital requirements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason a going concern basis of accounting in preparing the annual financial statements continues to be adopted.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of oil products and from the provision of heating services.

Sale of oil products

Turnover from the sale of oil products is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has taken delivery.

Provision of heating services

Turnover from the rendering of heating services is usually recognised upon completion of the works but in the case of maintenance contracts where the contract spans a period of time, turnover is recognised by reference to the time that has elapsed.

Tangible fixed assets

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

life:.

Freehold buildings - over 30 years

Plant and machinery - 20% to 50% on the reducing balance

Tankers - 25% on the reducing balance

Vans and cars - 25% to 35% on the reducing balance

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants that are received in respect of expenses or losses already incurred are recognised in "other income" within profit and loss in the period when the grant becomes receivable.

Investment property

Investment property is shown at valuation. Any aggregated surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The group only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

Taxation

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

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Land remediation

Where the group ceases to use land for the purposes of its trade, provision is made for the cost of cleaning up contamination arising from past use either by the group itself in its trade or by former occupiers.

3.

TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

30.4.22

30.4.21

£

£

Sale of oil products

29,437,880

17,747,210

Provision of heating services

2,216,961

1,885,698

31,654,841

19,632,908

4.	EMPLOYEES AND DIRECTORS

30.4.22

30.4.21

£

£

Wages and salaries

2,333,619

2,126,857

Social security costs

244,465

213,865

Other pension cost

49,563

47,414

2,627,647

2,388,136

The average monthly number of employees during the year was as follows::

30.4.22

30.4.21

Administration

34

30

Engineers and delivery

37

38

71

68

5.	DIRECTORS' EMOLUMENTS

30.4.22

30.4.21

£

£

Directors' remuneration

240,628

190,911

Information regarding the highest paid director for the year ended 30 April 2022 is as follows:

30.4.22

£

Emoluments etc

175,969

The Directors' remuneration disclosed above also represents total compensation paid to key management personnel.