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2023-02-28
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No description of principal activities is disclosed
2022-03-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
SC621728
ENERSOFT INTERNATIONAL LIMITED
Unaudited filleted financial statements
28 February 2023
GRANTS
Accountants and Tax Advisors
ENERSOFT INTERNATIONAL LIMITED
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
ENERSOFT INTERNATIONAL LIMITED
Directors and other information
|
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Directors |
Rebecca Quinn Hansen |
|
|
Kailie Christine Quinn |
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Company number |
SC621728 |
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Registered office |
Suite 7-4 |
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74 York Street |
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Glasgow |
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G2 8JX |
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Accountants |
GRANTS |
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Accountants and Tax Advisors |
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5th Floor |
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120 West Regent Street |
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Glasgow |
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G2 2QD |
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ENERSOFT INTERNATIONAL LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of ENERSOFT INTERNATIONAL LIMITED
Year ended 28 February 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2023 which comprise the Balance Sheet and related notes.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts for the year ended 28 February 2023 as set out from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than that of the company and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss.
We have not been instructed to carry out an audit or a review of the accounts and for this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
GRANTS
Accountants and Tax Advisors
5th Floor
120 West Regent Street
Glasgow
G2 2QD
15 September 2023
ENERSOFT INTERNATIONAL LIMITED
Balance sheet
28 February 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
6 |
5,500 |
|
|
|
9,900 |
|
|
Tangible assets |
|
7 |
144,561 |
|
|
|
30,155 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
150,061 |
|
|
|
40,055 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
8 |
39,419 |
|
|
|
14,800 |
|
|
Cash at bank and in hand |
|
|
7,211 |
|
|
|
22,958 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
46,630 |
|
|
|
37,758 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
473,911) |
|
|
|
(
214,061) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
427,281) |
|
|
|
(
176,303) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
277,220) |
|
|
|
(
136,248) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
10 |
|
|
(
97,390) |
|
|
|
(
97,903) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
374,610) |
|
|
|
(
234,151) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
10,000 |
|
|
|
10,000 |
Profit and loss account |
|
|
|
|
(
384,610) |
|
|
|
(
244,151) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
374,610) |
|
|
|
(
234,151) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
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|
For the year ending 28 February 2023 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 year 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 Profit and Loss Account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 September 2023
, and are signed on behalf of the board by:
Rebecca Quinn Hansen
Director
Company registration number:
SC621728
ENERSOFT INTERNATIONAL LIMITED
Notes to the financial statements
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 7-4, 74 York Street, Glasgow, G2 8JX.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
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|
Website costs |
- |
20 % |
straight line |
|
|
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|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Computer equipment |
- |
33.33 % |
straight line |
|
Office equipment |
- |
20.00 % |
straight line |
|
Motor vehicles |
- |
20.00 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
9
(2022:
5
).
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
227,191 |
127,018 |
|
Other pension costs |
|
4,112 |
2,614 |
|
|
|
_______ |
_______ |
|
|
|
231,303 |
129,632 |
|
|
|
_______ |
_______ |
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|
|
|
|
5.
Loss before taxation
Loss before taxation is stated after charging/(crediting):
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
4,400 |
4,400 |
|
Depreciation of tangible assets |
|
|
18,928 |
4,058 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
6.
Intangible assets
|
|
Website Costs |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 March 2022 and 28 February 2023 |
22,000 |
22,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 March 2022 |
12,100 |
12,100 |
|
|
|
|
|
Charge for the year |
4,400 |
4,400 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 28 February 2023 |
16,500 |
16,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 28 February 2023 |
5,500 |
5,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 28 February 2022 |
9,900 |
9,900 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Tangible assets
|
|
Computer equipment |
Office equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2022 |
8,848 |
923 |
27,732 |
37,503 |
|
|
|
|
Additions |
7,869 |
- |
125,466 |
133,335 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 28 February 2023 |
16,717 |
923 |
153,198 |
170,838 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2022 |
6,101 |
323 |
924 |
7,348 |
|
|
|
|
Charge for the year |
3,777 |
185 |
14,967 |
18,929 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 28 February 2023 |
9,878 |
508 |
15,891 |
26,277 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 28 February 2023 |
6,839 |
415 |
137,307 |
144,561 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 28 February 2022 |
2,747 |
600 |
26,808 |
30,155 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
- |
13,500 |
|
Other debtors |
|
39,419 |
1,300 |
|
|
|
_______ |
_______ |
|
|
|
39,419 |
14,800 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
5,621 |
5,621 |
|
Trade creditors |
|
1,859 |
- |
|
Social security and other taxes |
|
5,639 |
2,857 |
|
Other creditors |
|
460,792 |
205,583 |
|
|
|
_______ |
_______ |
|
|
|
473,911 |
214,061 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
35,948 |
41,569 |
|
Other creditors |
|
61,442 |
56,334 |
|
|
|
_______ |
_______ |
|
|
|
97,390 |
97,903 |
|
|
|
_______ |
_______ |
|
|
|
|
|