Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.2021-01-01false23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 5113073 2021-01-01 2021-12-31 5113073 2020-01-01 2020-12-31 5113073 2021-12-31 5113073 2020-12-31 5113073 c:Director1 2021-01-01 2021-12-31 5113073 d:CurrentFinancialInstruments 2021-12-31 5113073 d:CurrentFinancialInstruments 2020-12-31 5113073 d:Non-currentFinancialInstruments 2021-12-31 5113073 d:Non-currentFinancialInstruments 2020-12-31 5113073 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 5113073 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 5113073 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 5113073 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 5113073 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 5113073 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 5113073 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 5113073 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 5113073 d:ShareCapital 2021-12-31 5113073 d:ShareCapital 2020-12-31 5113073 d:MergerReserve 2021-12-31 5113073 d:MergerReserve 2020-12-31 5113073 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 5113073 d:RetainedEarningsAccumulatedLosses 2021-12-31 5113073 d:RetainedEarningsAccumulatedLosses 2020-12-31 5113073 c:OrdinaryShareClass1 2021-01-01 2021-12-31 5113073 c:OrdinaryShareClass1 2021-12-31 5113073 c:OrdinaryShareClass1 2020-12-31 5113073 c:FRS102 2021-01-01 2021-12-31 5113073 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 5113073 c:FullAccounts 2021-01-01 2021-12-31 5113073 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 5113073









PACKAGED ENERGY SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
PACKAGED ENERGY SOLUTIONS LIMITED
REGISTERED NUMBER: 5113073

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
61,202
44,422

  
61,202
44,422

Creditors: amounts falling due within one year
 5 
(58,843)
(83,468)

Net current assets/(liabilities)
  
 
 
2,359
 
 
(39,046)

Total assets less current liabilities
  
2,359
(39,046)

Creditors: amounts falling due after more than one year
 6 
(34,167)
(44,167)

  

Net liabilities
  
(31,808)
(83,213)


Capital and reserves
  

Called up share capital 
 8 
10
10

Merger reserve
 9 
1
1

Profit and loss account
 9 
(31,819)
(83,224)

  
(31,808)
(83,213)

Page 1

 
PACKAGED ENERGY SOLUTIONS LIMITED
REGISTERED NUMBER: 5113073
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr S Anderson
Director

Date: 24 August 2022

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Packaged Energy Solutions Limited is a private company (limited by shares) incorporated in England and Wales. Company number 5113073. The address of its principal place of business is 16 Quakers Row Coates, Cirencester, Gloucestershire, GL7 6JX.
The principal activity of the company is to provide energy consultancy services together with complimentary sales of energy efficient products.
The functional currency of the Company is Pounds Sterling as this is the currency of the primary economic
environment in which the Company operates. Monetary amounts in these financial statements are
rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102 ("FRS 102"), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared under the going concern basis as the Director has
confirmed that he will continue to finance the Company's working capital, through the Directors Loan
Account, to enable the Company to meet its obligations as and when they fall due.

Page 3

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

 
2.5

Government grants

The UK government has offered a range of financial support packages to help companies, including
government backed financing arrangements, furlough schemes, deferment of VAT payments and, for
some sectors, business rates holidays. Of the offered schemes, the company used the government
backed financing arrangements and the deferment of VAT payments. Last year, the company had taken a six-year COVID-19 loan, on which the first 12 months of interest are to be covered by the UK Government's Business Interruption Payment ("BIP"). The loan interest amount that will be paid for by the government has been recognised within 'Other operating income'.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 3).

Page 5

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Debtors

2021
2020
£
£


Trade debtors
21,552
20,722

Amounts owed by joint ventures and associated undertakings
39,650
23,700

61,202
44,422



5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
14,693
14,322

Bank loans
10,000
5,833

Trade creditors
15,620
41,126

Other taxation and social security
14,603
18,434

Other creditors
527
353

Accruals and deferred income
3,400
3,400

58,843
83,468



6.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
34,167
44,167

34,167
44,167


Page 6

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
10,000
5,833


Amounts falling due 2-5 years

Bank loans
34,167
40,000

Amounts falling due after more than 5 years

Bank loans
-
4,167

44,167
50,000



8.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1,000 (2020 - 1,000) Ordinary shares of £0.01 each
10
10



9.


Reserves

Profit and loss account

This reserves represents cumulative profits and losses.

Page 7

 
PACKAGED ENERGY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Related party transactions

As at 31 December 2021, the company owed £353 (2020: £353) to Mr S Anderson, a director, in relation to expenses incurred on behalf of the business.
During the year, the Company made sales totalling £143,500 (2020: £20,000) and purchases totalling £125,017 (2020: £55,900) from GUV Limited, a Company with common ownership.
At the year end, the company was owed £10,950 (2020: £1,300) by and owed £4,070 (2020: £8,900) to Guv Limited. The amount holds no repayment terms and accrues no interest and is therefore deemed to be repayable on demand to this company.                          
The Company also made sales totalling £305,700 (2020: £11,318) and purchases totalling £305,000 (2020: £Nil) from Packaged Group Limited, a Company with a common shareholder and director.
The Company also made sales totalling £44,920 (2020: £120) and purchases totalling £41,800 (2020: £Nil) from Packaged Lighting Solutions Limited, a Company with a common ownership.
The Company also made sales totalling £30,000 (2020: £18,850) to Packaged Feeds Limited, a Company with a common shareholder and director.
As at 31 December 2021, the company was owed £39,650 (2020: £23,700) from Packaged Feeds  Limited, a company with common ownership. The amount holds no repayament terms and accrues no interest and is therefore deemed to be repayable on demand to this company.                         

 
Page 8