REGISTERED NUMBER: |
Financial Statements |
for the period |
2 February 2022 to 30 April 2023 |
for |
EXCALON ENERGY LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the period |
2 February 2022 to 30 April 2023 |
for |
EXCALON ENERGY LIMITED |
EXCALON ENERGY LIMITED (REGISTERED NUMBER: 13889225) |
Contents of the Financial Statements |
for the period 2 February 2022 to 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
EXCALON ENERGY LIMITED |
Company Information |
for the period 2 February 2022 to 30 April 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
EXCALON ENERGY LIMITED (REGISTERED NUMBER: 13889225) |
Balance Sheet |
30 April 2023 |
Notes | £ |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
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 |
EXCALON ENERGY LIMITED (REGISTERED NUMBER: 13889225) |
Notes to the Financial Statements |
for the period 2 February 2022 to 30 April 2023 |
1. | Statutory information |
Excalon Energy Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The company incurred a loss in the period ended 30 April 2023 and had net liabilities as at that date. |
The company is dependent on the support of a related party, Excalon Limited, and this company has confirmed that it will continue to support Excalon Energy Limited. In particular, it will not seek repayments of amounts due to it in excess of the company's ability to pay. |
As a result, the directors consider that the company will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements and that they should, therefore, be prepared on a going concern basis. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
There are not considered to be any critical judgements in applying the company's accounting policies. |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are not considered to be any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year. |
Turnover |
Turnover represents contract revenue and the sales of goods and services, net of value added tax. Contract revenue is recognised when and to the extent that the company obtains the right to consideration in exchange for performance. Revenue is measured at the fair value of the right to consideration. |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
There are no assets which are initially measured at fair value. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
EXCALON ENERGY LIMITED (REGISTERED NUMBER: 13889225) |
Notes to the Financial Statements - continued |
for the period 2 February 2022 to 30 April 2023 |
3. | Accounting policies - continued |
Taxation |
Taxation for the period 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 period 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. |
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. |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
4. | Employees and directors |
The average number of employees during the period was |
5. | Debtors: amounts falling due within one year |
£ |
Trade debtors |
Other debtors |
Trade debtors are stated after a bad debt provision of £20,695. |
6. | Creditors: amounts falling due within one year |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
EXCALON ENERGY LIMITED (REGISTERED NUMBER: 13889225) |
Notes to the Financial Statements - continued |
for the period 2 February 2022 to 30 April 2023 |
8. | Ultimate controlling party |
The ultimate controlling party is Excalon Limited who hold 100% of the share capital. |