Registered number
07401037
Aspire Eco Energy Limited
Filleted Accounts
30 April 2023
Aspire Eco Energy Limited
Registered number: 07401037
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 9,782 30,889
Current assets
Stocks 9,280 9,280
Debtors 5 36,106 169,079
Cash at bank and in hand 5,217 4,553
50,603 182,912
Creditors: amounts falling due within one year 6 (53,882) (146,293)
Net current (liabilities)/assets (3,279) 36,619
Total assets less current liabilities 6,503 67,508
Creditors: amounts falling due after more than one year 7 (37,932) (60,361)
Net (liabilities)/assets (31,429) 7,147
Capital and reserves
Called up share capital 2 2
Profit and loss account (31,431) 7,145
Shareholders' funds (31,429) 7,147
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Myers
Director
Approved by the board on 11 July 2023
Aspire Eco Energy Limited
Notes to the Accounts
for the period from 1 November 2022 to 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 80,000
At 30 April 2023 80,000
Amortisation
At 1 November 2022 80,000
At 30 April 2023 80,000
Net book value
At 30 April 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 6,675 64,850 71,525
Disposals - (22,995) (22,995)
At 30 April 2023 6,675 41,855 48,530
Depreciation
At 1 November 2022 3,714 36,922 40,636
Charge for the period 370 3,491 3,861
On disposals - (5,749) (5,749)
At 30 April 2023 4,084 34,664 38,748
Net book value
At 30 April 2023 2,591 7,191 9,782
At 31 October 2022 2,961 27,928 30,889
5 Debtors 2023 2022
£ £
Trade debtors 23,803 139,219
Other debtors 12,303 29,860
36,106 169,079
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 11,724
Obligations under finance lease and hire purchase contracts - 4,837
Trade creditors 17,439 78,388
Taxation and social security costs 8,810 8,573
Other creditors 27,633 42,771
53,882 146,293
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 17,630
Other creditors 37,932 42,731
37,932 60,361
8 Other information
Aspire Eco Energy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 34 Wingfield View
Clay Cross
Chesterfield
S45 9JW
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