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REGISTERED NUMBER: 07511276 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Watt Energy Saver Ltd

Watt Energy Saver Ltd (Registered number: 07511276)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Watt Energy Saver Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr C Edmonds
Mr C Oxley
Mr D Whiles
Mrs V Canning





REGISTERED OFFICE: Elizabeth House
Latimer Way
New Ollerton
Newark
NG22 9QW





REGISTERED NUMBER: 07511276 (England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

Watt Energy Saver Ltd (Registered number: 07511276)

Statement of Financial Position
31 January 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 111,972 122,311

CURRENT ASSETS
Stocks 51,249 5,721
Debtors 5 4,651,322 3,426,827
Cash at bank and in hand 1,198,123 930,859
5,900,694 4,363,407
CREDITORS
Amounts falling due within one year 6 4,492,389 2,979,442
NET CURRENT ASSETS 1,408,305 1,383,965
TOTAL ASSETS LESS CURRENT LIABILITIES 1,520,277 1,506,276

CREDITORS
Amounts falling due after more than one
year

7

31,565

45,582
NET ASSETS 1,488,712 1,460,694

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,488,612 1,460,594
SHAREHOLDERS' FUNDS 1,488,712 1,460,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Watt Energy Saver Ltd (Registered number: 07511276)

Statement of Financial Position - continued
31 January 2023


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 6 October 2023 and were signed on its behalf by:





Mr C Edmonds - Director


Watt Energy Saver Ltd (Registered number: 07511276)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Watt Energy Saver 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Watt Energy Saver Ltd (Registered number: 07511276)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 14 ) .

Watt Energy Saver Ltd (Registered number: 07511276)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 February 2022 213,209
Additions 18,495
At 31 January 2023 231,704
DEPRECIATION
At 1 February 2022 90,898
Charge for year 28,834
At 31 January 2023 119,732
NET BOOK VALUE
At 31 January 2023 111,972
At 31 January 2022 122,311

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 February 2022
and 31 January 2023 23,859
DEPRECIATION
At 1 February 2022 11,643
Charge for year 2,443
At 31 January 2023 14,086
NET BOOK VALUE
At 31 January 2023 9,773
At 31 January 2022 12,216

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,778,297 1,822,781
Other debtors 873,025 1,604,046
4,651,322 3,426,827

Watt Energy Saver Ltd (Registered number: 07511276)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,727 8,887
Hire purchase contracts (see note 8) 4,469 4,864
Trade creditors 2,504,315 1,792,407
Amounts owed to group undertakings 1,250,124 800,124
Taxation and social security 505,932 309,651
Other creditors 217,822 63,509
4,492,389 2,979,442

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 31,565 41,113
Hire purchase contracts (see note 8) - 4,469
31,565 45,582

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 4,469 4,864
Between one and five years - 4,469
4,469 9,333

Non-cancellable
operating leases
2023 2022
£ £
Within one year 5,056 -
Between one and five years 12,641 -
17,697 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100