REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 25 August 2022 to 31 March 2023 |
for |
Skoon Energy Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 25 August 2022 to 31 March 2023 |
for |
Skoon Energy Ltd |
Skoon Energy Ltd (Registered number: 14317488) |
Contents of the Financial Statements |
for the Period 25 August 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Skoon Energy Ltd |
Company Information |
for the Period 25 August 2022 to 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
63 Bermondsey Street |
London |
SE1 3XF |
Skoon Energy Ltd (Registered number: 14317488) |
Statement of Financial Position |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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 | ( |
) |
( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Skoon Energy Ltd (Registered number: 14317488) |
Notes to the Financial Statements |
for the Period 25 August 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Skoon Energy Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible fixed assets are are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Office equipment -20% on cost |
Computer equipment - 33% on cost |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Research and development |
Expenditure on research and development is expensed through the income statement in the year in which it is incurred. |
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. |
Skoon Energy Ltd (Registered number: 14317488) |
Notes to the Financial Statements - continued |
for the Period 25 August 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The financial statements have been prepared on a going concern basis. The company incurred losses during the year, however the directors have a reasonable expectation that trading will improve once the research and development stage has been completed and the company is fully operational. Additionally, the company will continue to be supported by companies within the same group in future years and are of the opinion that the company has sufficient resources to meet its future obligations, if and when, they become due. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 March 2023 |
DEPRECIATION |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Skoon Energy Ltd (Registered number: 14317488) |
Notes to the Financial Statements - continued |
for the Period 25 August 2022 to 31 March 2023 |
8. | RELATED PARTY DISCLOSURES |
Included in other creditors due within one year is an amount of £150,178 owed from the company to a director. The loan is interest free and repayable on demand. |
9. | ULTIMATE CONTROLLING PARTY |
The immediate and ultimate controlling party is Skoon Energy Group Ltd, whose registered office is C/O Dragon Argent Limited, 63 Bermondsey Street, London, SE1 3XF. |