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Company registration number: 13525074
Proactive Energy Consulting Ltd
Pages for filing with Registrar
31 July 2022
Proactive Energy Consulting Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Proactive Energy Consulting Ltd
Statement of financial position
31 July 2022
31/07/22
Note £ £
Current assets
Stocks 330,568
Debtors 5 66,218
_______
396,786
Creditors: amounts falling due
within one year 6 ( 173,138)
_______
Net current assets 223,648
_______
Total assets less current liabilities 223,648
_______
Net assets 223,648
_______
Capital and reserves
Called up share capital 103
Profit and loss account 223,545
_______
Shareholders funds 223,648
_______
For the period ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:
Mr Chad Eccleston
Director
Company registration number: 13525074
Proactive Energy Consulting Ltd
Statement of changes in equity
Period ended 31 July 2022
Called up share capital Profit and loss account Total
£ £ £
At 22 July 2021 - - -
Profit for the period 223,545 223,545
_______ _______ _______
Total comprehensive income for the period - 223,545 223,545
Issue of shares 103 103
_______ _______ _______
Total investments by and distributions to owners 103 - 103
_______ _______ _______
At 31 July 2022 103 223,545 223,648
_______ _______ _______
Proactive Energy Consulting Ltd
Notes to the financial statements
Period ended 31 July 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suit F, Enterprise Park East, North East Innovation Centre, Sunderland, SR5 2TA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5
5. Debtors
31/07/22
£
Other debtors 66,218
_______
6. Creditors: amounts falling due within one year
31/07/22
£
Bank loans and overdrafts 8
Corporation tax 69,120
Social security and other taxes 10,080
Other creditors 93,930
_______
173,138
_______
7. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/07/22
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Leslie Allison - 25,016 25,016
Mr Chad Eccleston - 24,416 24,416
_______ _______ _______
- 49,432 49,432
_______ _______ _______