Company Registration No. 7357411 (England and Wales)
South West Free Energy Ltd
Unaudited accounts
for the year ended 31 December 2021
South West Free Energy Ltd
Unaudited accounts
Contents
South West Free Energy Ltd
Company Information
for the year ended 31 December 2021
Company Number
7357411 (England and Wales)
Registered Office
Coach House, Great Ambrook
Ipplepen
Newton Abbot
Devon
TQ12 5UJ
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons)
South Devon Accounting Ltd
6 Orchard Close
Ogwell
Newton Abbot
TQ12 6AL
South West Free Energy Ltd
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
1,219
23,759
Creditors: amounts falling due within one year
(12,230)
(31,316)
Net current assets/(liabilities)
43
(3,703)
Total assets less current liabilities
43
5,205
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
41
4,650
Shareholders' funds
43
4,652
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 September 2022 and were signed on its behalf by
Mr Simon Herbert
Director
Company Registration No. 7357411
South West Free Energy Ltd
Notes to the Accounts
for the year ended 31 December 2021
South West Free Energy Ltd is a private company, limited by shares, registered in England and Wales, registration number 7357411. The registered office is Coach House, Great Ambrook, Ipplepen, Newton Abbot, Devon, TQ12 5UJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
South West Free Energy Ltd
Notes to the Accounts
for the year ended 31 December 2021
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
1,079
15,686
1,268
18,033
Disposals
(1,079)
(15,686)
(1,268)
(18,033)
At 31 December 2021
-
-
-
-
At 1 January 2021
850
13,593
682
15,125
On disposals
(850)
(13,593)
(682)
(15,125)
At 31 December 2021
-
-
-
-
At 31 December 2021
-
-
-
-
At 31 December 2020
229
2,093
586
2,908
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
11,054
1,385
Accrued income and prepayments
-
1,789
South West Free Energy Ltd
Notes to the Accounts
for the year ended 31 December 2021
7
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
2,430
3,170
Loans from directors
(2,540)
(8,150)
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).