Local Fuel Ltd

Local Fuel Ltd from London UK is a large, active company founded twelve years ago. Despite a strong Google rating of 5.0 based on 139 reviews, the company is currently facing challenges with its accounts and confirmation statements, both overdue by nine months. Employing fourteen people and boasting assets of £11,916,215, Local Fuel Ltd operates from a real address and is managed by three directors and a solo founder. The company is a regular importer of mineral fuels, oils, and related products, with its last import operation occurring nine months ago.

Local Fuel Ltd’s core business revolves around the wholesale of petroleum and petroleum products, with a particular focus on heating oil. Its website details a range of fuels—kerosene, gas oil, red diesel—available for both domestic and commercial customers. A key element of their offering is the delivery of fuel in various quantities and via different vehicle types, including standard tankers and smaller “baby” tankers. They also cater to agricultural and marine sectors, offering specialized fuels like ultra-low sulphur gas oil and FAME-free marine fuel. A unique aspect is their focus on providing 20-litre fuel boxes for emergency situations.

Financially, Local Fuel Ltd shows a mixed picture. While assets remain substantial, there’s been a noticeable shift. Cash and cash equivalents have increased significantly by 260%, jumping from £110,000 to £400,000—a positive sign of improved liquidity. However, bank borrowings have decreased dramatically, falling by 100% to zero, suggesting a reduction in debt. Trade creditors have also increased by a substantial 520%, reaching £3.4 million, which could indicate stretched payment terms or increased purchasing activity. Net assets have decreased slightly by 3.4% to £1.6 million. While the company’s turnover increased by 52% to £74 million, losses deepened to -£36,000. The company’s small size (meeting two of three criteria for a large company) helps it remain agile, but the increased losses raise concerns. The company is audited by SPW (UK) LLP.

The company’s reliance on a single owner and the overdue accounts and confirmations suggest a potential management issue, though the high Google rating indicates strong customer satisfaction. The company’s focus on a niche market—heating oil and related fuels—could provide a buffer against broader economic fluctuations, but the need to address the overdue filings is crucial for maintaining financial health and investor confidence.

Registered in England/Wales under the registration number 08128748, with a registered address at W1G 9TG, London, 51 New Cavendish Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.