M.A.L.D. Energy Ltd 09273035 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is sale of electricity Digita Accounts Production Advanced 6.30.9574.0 Software true true 09273035 2022-04-01 2023-03-31 09273035 2023-03-31 09273035 bus:Director1 1 2023-03-31 09273035 bus:Director2 1 2023-03-31 09273035 bus:OrdinaryShareClass1 2023-03-31 09273035 bus:OrdinaryShareClass2 2023-03-31 09273035 core:RetainedEarningsAccumulatedLosses 2023-03-31 09273035 core:ShareCapital 2023-03-31 09273035 core:CurrentFinancialInstruments 2023-03-31 09273035 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09273035 core:Non-currentFinancialInstruments 2023-03-31 09273035 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09273035 core:PlantMachinery 2023-03-31 09273035 bus:SmallEntities 2022-04-01 2023-03-31 09273035 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09273035 bus:FullAccounts 2022-04-01 2023-03-31 09273035 bus:RegisteredOffice 2022-04-01 2023-03-31 09273035 bus:Director1 2022-04-01 2023-03-31 09273035 bus:Director1 1 2022-04-01 2023-03-31 09273035 bus:Director2 2022-04-01 2023-03-31 09273035 bus:Director2 1 2022-04-01 2023-03-31 09273035 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09273035 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 09273035 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09273035 core:PlantMachinery 2022-04-01 2023-03-31 09273035 countries:AllCountries 2022-04-01 2023-03-31 09273035 2022-03-31 09273035 bus:Director1 1 2022-03-31 09273035 bus:Director2 1 2022-03-31 09273035 core:PlantMachinery 2022-03-31 09273035 2021-04-01 2022-03-31 09273035 2022-03-31 09273035 bus:Director1 1 2022-03-31 09273035 bus:Director2 1 2022-03-31 09273035 bus:OrdinaryShareClass1 2022-03-31 09273035 bus:OrdinaryShareClass2 2022-03-31 09273035 core:RetainedEarningsAccumulatedLosses 2022-03-31 09273035 core:ShareCapital 2022-03-31 09273035 core:CurrentFinancialInstruments 2022-03-31 09273035 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09273035 core:Non-currentFinancialInstruments 2022-03-31 09273035 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 09273035 core:PlantMachinery 2022-03-31 09273035 bus:Director1 1 2021-04-01 2022-03-31 09273035 bus:Director2 1 2021-04-01 2022-03-31 09273035 bus:Director1 1 2021-03-31 09273035 bus:Director2 1 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 09273035

M.A.L.D. Energy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

M.A.L.D. Energy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

M.A.L.D. Energy Ltd

Company Information

Directors

Mrs S M A Jones

Mr D M M Jones

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

M.A.L.D. Energy Ltd

(Registration number: 09273035)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

158,563

171,794

Current assets

 

Debtors

6

4,842

1,763

Cash at bank and in hand

 

30,743

11,241

 

35,585

13,004

Creditors: Amounts falling due within one year

7

(28,519)

(30,153)

Net current assets/(liabilities)

 

7,066

(17,149)

Total assets less current liabilities

 

165,629

154,645

Creditors: Amounts falling due after more than one year

7

(113,112)

(135,915)

Net assets

 

52,517

18,730

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

52,417

18,630

Total equity

 

52,517

18,730

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

M.A.L.D. Energy Ltd

(Registration number: 09273035)
Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 30 October 2023 and signed on its behalf by:
 

.........................................
Mr D M M Jones
Director

   
     
 

M.A.L.D. Energy Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Abernac
Lledrod
Aberystwyth
SY23 4SN

These financial statements were authorised for issue by the Board on 30 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

M.A.L.D. Energy Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Windmill

Straight line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

M.A.L.D. Energy Ltd

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

13,230

13,231

 

M.A.L.D. Energy Ltd

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

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

262,729

262,729

At 31 March 2023

262,729

262,729

Depreciation

At 1 April 2022

90,935

90,935

Charge for the year

13,231

13,231

At 31 March 2023

104,166

104,166

Carrying amount

At 31 March 2023

158,563

158,563

At 31 March 2022

171,794

171,794

6

Debtors

2023
£

2022
£

Trade debtors

4,842

1,763

4,842

1,763

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

22,976

23,148

Trade creditors

 

1,362

1,485

Taxation and social security

 

2,054

1,541

Other related parties

 

703

2,703

Other creditors

 

1,424

1,276

 

28,519

30,153

Due after one year

 

Loans and borrowings

9

113,112

135,915

 

M.A.L.D. Energy Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

113,112

135,915

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

B Ordinary of £1 each

50

50

50

50

A Ordinary of £1 each

50

50

50

50

 

100

100

100

100

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

113,112

135,915

 

M.A.L.D. Energy Ltd

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

22,976

23,148

10

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Other payments made to company by director
£

At 31 March 2023
£

Mr D M M Jones

Interest free loan repayable on demand

(1,351)

1,000

(351)

       
     

Mrs S M A Jones

Interest free loan repayable on demand

(1,352)

1,000

(352)

       
     

 

2022

At 1 April 2021
£

Other payments made to company by director
£

At 31 March 2022
£

Mr D M M Jones

Interest free loan repayable on demand

(251)

(1,100)

(1,351)

       
     

Mrs S M A Jones

Interest free loan repayable on demand

(251)

(1,100)

(1,352)