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REGISTERED NUMBER: 11236114 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Think Energy (North East) Ltd

Think Energy (North East) Ltd (Registered number: 11236114)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Think Energy (North East) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R Peat
L F Stothard





SECRETARY: L F Stothard





REGISTERED OFFICE: Wood House
Anick Road
Hexham
Northumberland
NE46 4JR





REGISTERED NUMBER: 11236114 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Think Energy (North East) Ltd (Registered number: 11236114)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,108 180,739
Investments 5 5,075 5,025
157,183 185,764

CURRENT ASSETS
Stocks 6 158,209 160,073
Debtors 7 150,387 183,537
Cash at bank and in hand 34,865 81,771
343,461 425,381
CREDITORS
Amounts falling due within one year 8 265,188 269,205
NET CURRENT ASSETS 78,273 156,176
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,456

341,940

CREDITORS
Amounts falling due after more than one
year

9

(146,807

)

(187,873

)

PROVISIONS FOR LIABILITIES 12 (28,450 ) (33,733 )
NET ASSETS 60,199 120,334

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 60,099 120,234
SHAREHOLDERS' FUNDS 60,199 120,334

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

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

Think Energy (North East) Ltd (Registered number: 11236114)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





R Peat - Director


Think Energy (North East) Ltd (Registered number: 11236114)

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

1. STATUTORY INFORMATION

Think Energy (North East) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements
The financial statements contain information about Think Energy (North East) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax.

Income recognition
Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered.

Government grants
Revenue based grants are credited to the profit and loss account in the period to which they relate.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.


Think Energy (North East) Ltd (Registered number: 11236114)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is expensed to the Profit and Loss Account in the year in which it is incurred.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 10 ) .

Think Energy (North East) Ltd (Registered number: 11236114)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 9,238 9,589 253,170 11,377 283,374
Additions 585 461 38,996 2,127 42,169
Disposals - - (47,813 ) - (47,813 )
At 31 March 2023 9,823 10,050 244,353 13,504 277,730
DEPRECIATION
At 1 April 2022 2,275 4,790 90,689 4,881 102,635
Charge for year 2,407 2,051 43,600 2,738 50,796
Eliminated on disposal - - (27,809 ) - (27,809 )
At 31 March 2023 4,682 6,841 106,480 7,619 125,622
NET BOOK VALUE
At 31 March 2023 5,141 3,209 137,873 5,885 152,108
At 31 March 2022 6,963 4,799 162,481 6,496 180,739

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 181,442
Additions 38,996
Disposals (8,528 )
At 31 March 2023 211,910
DEPRECIATION
At 1 April 2022 57,102
Charge for year 34,084
Eliminated on disposal (6,504 )
At 31 March 2023 84,682
NET BOOK VALUE
At 31 March 2023 127,228
At 31 March 2022 124,340

Think Energy (North East) Ltd (Registered number: 11236114)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 5,025
Additions 50
At 31 March 2023 5,075
NET BOOK VALUE
At 31 March 2023 5,075
At 31 March 2022 5,025

6. STOCKS
2023 2022
£    £   
Stocks 115,837 96,576
Work-in-progress 42,372 63,497
158,209 160,073

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,201 75,685
Amounts owed by group undertakings 9,562 4,098
Other debtors 84,369 103,122
Prepayments and accrued income 2,255 632
150,387 183,537

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 57,416 27,000
Hire purchase contracts (see note 10) 29,653 31,304
Trade creditors 129,539 143,534
Taxation and social security 36,441 8,919
Other creditors 5,158 52,185
Directors' current accounts 304 4,263
Accruals and deferred income 6,677 2,000
265,188 269,205

Think Energy (North East) Ltd (Registered number: 11236114)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 25,498 29,720
Bank loans - 2-5 years 19,835 42,923
Hire purchase contracts (see note 10) 101,474 115,230
146,807 187,873

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 29,653 31,304
Between one and five years 101,474 115,230
131,127 146,534

Non-cancellable operating leases
2023 2022
£    £   
Within one year 2,861 25,244
Between one and five years 4,769 13,596
7,630 38,840

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 131,127 146,534

Hire purchase assets are secured upon the assets to which they relate.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 28,450 33,733

Think Energy (North East) Ltd (Registered number: 11236114)

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

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 33,733
Accelerated capital allowances (5,283 )
Balance at 31 March 2023 28,450

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary £1 90 90
10 Ordinary A £1 10 10
100 100

14. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions other than those listed below.

The company has taken the exemption not to disclose related party transactions with 100% subsidiaries.


2023 2022
£ £

Amounts owed to director 304 4,263

£ £

Amounts owed to shareholders 2,487 10,836

No interest has been charged.