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COMPANY REGISTRATION NUMBER: 13723717
ELECTRON GREEN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
ELECTRON GREEN LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 4 NOVEMBER 2021 TO 28 FEBRUARY 2023
CONTENTS
PAGES
Officers and professional advisers
1
Balance sheet
2 to 3
Notes to the financial statements
4 to 6
ELECTRON GREEN LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
THE BOARD OF DIRECTORS
Mr D M Green
Mr G I Kuper
Mr W G T Sneyd
Mr R Watson
REGISTERED OFFICE
210 Euston Road
London
NW1 2DA
ELECTRON GREEN LIMITED
BALANCE SHEET
28 February 2023
28 Feb 23
Note
£
£
FIXED ASSETS
Tangible assets
5
13,074
CURRENT ASSETS
Debtors
6
473,119
Cash at bank and in hand
6,459,487
-------------
6,932,606
CREDITORS: amounts falling due within one year
7
( 1,310,415)
-------------
NET CURRENT ASSETS
5,622,191
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
5,635,265
-------------
NET ASSETS
5,635,265
-------------
CAPITAL AND RESERVES
Called up share capital
8
1
Share premium account
8,735,038
Profit and loss account
( 3,099,774)
-------------
SHAREHOLDERS FUNDS
5,635,265
-------------
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.
For the period 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 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 .
ELECTRON GREEN LIMITED
BALANCE SHEET (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
Mr D M Green
Director
Company registration number: 13723717
ELECTRON GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 4 NOVEMBER 2021 TO 28 FEBRUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 210 Euston Road, London, NW1 2DA.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. 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 as a finance cost 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 7 .
5. TANGIBLE ASSETS
Equipment
£
Cost
At 4 November 2021
Additions
16,343
---------
At 28 February 2023
16,343
---------
Depreciation
At 4 November 2021
Charge for the period
3,269
---------
At 28 February 2023
3,269
---------
Carrying amount
At 28 February 2023
13,074
---------
6. DEBTORS
28 Feb 23
£
Trade debtors
105,640
Other debtors
367,479
----------
473,119
----------
Other debtors include £170,594 due from a director of the company. The loan was repaid shortly after the period end.
7. CREDITORS: amounts falling due within one year
28 Feb 23
£
Trade creditors
457,638
Social security and other taxes
43,424
Other creditors
809,353
-------------
1,310,415
-------------
8. CALLED UP SHARE CAPITAL
During the period, the company received equity investment and issued share capital at a premium of £8,735,038.
9. EVENTS AFTER THE END OF THE REPORTING PERIOD
After the period end, the company received further equity investment and issued additional share capital at a premium of £1,947,946. The company also secured a commitment for further equity investment of £997,464.
10. CONTROLLING PARTY
The company is controlled by Mr D M Green .