Silverfin false 30/06/2022 01/07/2021 30/06/2022 Marvin Tabi 30/06/2015 30 June 2023 The principal activity of the Company during the financial year was renewable energy consultancy services. 09663346 2022-06-30 09663346 bus:Director1 2022-06-30 09663346 2021-06-30 09663346 core:CurrentFinancialInstruments 2022-06-30 09663346 core:CurrentFinancialInstruments 2021-06-30 09663346 core:Non-currentFinancialInstruments 2022-06-30 09663346 core:Non-currentFinancialInstruments 2021-06-30 09663346 core:ShareCapital 2022-06-30 09663346 core:ShareCapital 2021-06-30 09663346 core:RetainedEarningsAccumulatedLosses 2022-06-30 09663346 core:RetainedEarningsAccumulatedLosses 2021-06-30 09663346 core:OtherPropertyPlantEquipment 2021-06-30 09663346 core:OtherPropertyPlantEquipment 2022-06-30 09663346 bus:OrdinaryShareClass1 2022-06-30 09663346 2021-07-01 2022-06-30 09663346 bus:FullAccounts 2021-07-01 2022-06-30 09663346 bus:SmallEntities 2021-07-01 2022-06-30 09663346 bus:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 09663346 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 09663346 bus:Director1 2021-07-01 2022-06-30 09663346 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-07-01 2022-06-30 09663346 2020-07-01 2021-06-30 09663346 core:OtherPropertyPlantEquipment 2021-07-01 2022-06-30 09663346 core:CurrentFinancialInstruments 2021-07-01 2022-06-30 09663346 core:Non-currentFinancialInstruments 2021-07-01 2022-06-30 09663346 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 09663346 bus:OrdinaryShareClass1 2020-07-01 2021-06-30 09663346 1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09663346 (England and Wales)

WESAF ENERGY SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2022
Pages for filing with the registrar

WESAF ENERGY SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2022

Contents

WESAF ENERGY SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2022
WESAF ENERGY SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2022
DIRECTOR Marvin Tabi
REGISTERED OFFICE No1 Poultry
Poultry
London
EC2R 8EJ
England
United Kingdom
COMPANY NUMBER 09663346 (England and Wales)
WESAF ENERGY SOLUTIONS LIMITED

BALANCE SHEET

As at 30 June 2022
WESAF ENERGY SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 30 June 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 723 0
723 0
Current assets
Debtors 4 348,343 250,000
Cash at bank and in hand 1,609 71
349,952 250,071
Creditors: amounts falling due within one year 5 ( 123,086) ( 3,384)
Net current assets 226,866 246,687
Total assets less current liabilities 227,589 246,687
Creditors: amounts falling due after more than one year 6 0 ( 12,500)
Net assets 227,589 234,187
Capital and reserves
Called-up share capital 7 250,000 250,000
Profit and loss account ( 22,411 ) ( 15,813 )
Total shareholders' funds 227,589 234,187

For the financial year ending 30 June 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Wesaf Energy Solutions Limited (registered number: 09663346) were approved and authorised for issue by the Director on 30 June 2023. They were signed on its behalf by:

Marvin Tabi
Director
WESAF ENERGY SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2022
WESAF ENERGY SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wesaf Energy Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is No1 Poultry, Poultry, London, EC2R 8EJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2021 2,500 2,500
Additions 1,446 1,446
At 30 June 2022 3,946 3,946
Accumulated depreciation
At 01 July 2021 2,500 2,500
Charge for the financial year 723 723
At 30 June 2022 3,223 3,223
Net book value
At 30 June 2022 723 723
At 30 June 2021 0 0

4. Debtors

2022 2021
£ £
Corporation tax 24,815 0
Other debtors 323,528 250,000
348,343 250,000

Included within other debtors is an amount of £73,528 (2021: £nil) due from the director. Interest is charged at HMRC official rates and no repayment date has been set.

5. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans 19,771 0
Taxation and social security 24,815 0
Other creditors 78,500 3,384
123,086 3,384

There are no amounts included above in respect of which any security has been given by the small entity.

Other creditors include amounts owed to the director totalling £nil (2021: £1,884). The amounts are repayable on demand and do not bear interest.

6. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 0 12,500

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
250,000 Ordinary shares of £ 1.00 each 250,000 250,000

8. Financial commitments

The Company had no material commitments at the year ended 30 June 2022.

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.