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REGISTERED NUMBER: 05831393 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

EXERGY DEVICES LTD

EXERGY DEVICES LTD (REGISTERED NUMBER: 05831393)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2022




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3

Chartered accountants' report 6

EXERGY DEVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2022







DIRECTORS: Mr P Boait
Mrs E Bailey
Dr S Kim





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: 05831393 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

EXERGY DEVICES LTD (REGISTERED NUMBER: 05831393)

BALANCE SHEET
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,511 6,613
Tangible assets 5 3,214 1,818
8,725 8,431

CURRENT ASSETS
Cash at bank 2,196 2,812

CREDITORS
Amounts falling due within one year 6 125,788 125,094
NET CURRENT LIABILITIES (123,592 ) (122,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(114,867

)

(113,851

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (115,867 ) (114,851 )
SHAREHOLDERS' FUNDS (114,867 ) (113,851 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2022 and were signed on its behalf by:




Mr P Boait - Director



Mrs E Bailey - Director


EXERGY DEVICES LTD (REGISTERED NUMBER: 05831393)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2022

1. STATUTORY INFORMATION

Exergy Devices Ltd 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 Company Information page.

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, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - 20% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

EXERGY DEVICES LTD (REGISTERED NUMBER: 05831393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2022

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2021
and 31 March 2022 11,021
AMORTISATION
At 1 April 2021 4,408
Amortisation for year 1,102
At 31 March 2022 5,510
NET BOOK VALUE
At 31 March 2022 5,511
At 31 March 2021 6,613

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 2,413 11,059 13,472
Additions - 2,458 2,458
At 31 March 2022 2,413 13,517 15,930
DEPRECIATION
At 1 April 2021 2,264 9,390 11,654
Charge for year 30 1,032 1,062
At 31 March 2022 2,294 10,422 12,716
NET BOOK VALUE
At 31 March 2022 119 3,095 3,214
At 31 March 2021 149 1,669 1,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 134 135
VAT 389 204
Directors' current accounts 124,465 123,955
Accrued expenses 800 800
125,788 125,094

EXERGY DEVICES LTD (REGISTERED NUMBER: 05831393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2022

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr P Boait
Balance outstanding at start of year 123,955 123,127
Amounts advanced 2,010 9,155
Amounts repaid (1,500 ) (8,327 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 124,465 123,955

8. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr P Boait and Mrs E Bailey who between them own 100% of the share capital.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EXERGY DEVICES LTD

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 Exergy Devices Ltd for the year ended 31 March 2022 which comprise the Income statement, Balance sheet, Statement of changes in equity 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 Exergy Devices 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 Exergy Devices Ltd and state those matters that we have agreed to state to the Board of Directors of Exergy Devices 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 Exergy Devices Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Exergy Devices 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 loss of Exergy Devices Ltd. You consider that Exergy Devices 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 Exergy Devices 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.






Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX


Date: .............................................