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Registration number: 05433626

Energ.B. Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

image-name
 

Energ.B. Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Energ.B. Limited

Company Information

Directors

Mr D Bampton

Mr NK Bampton

Company secretary

Mrs SL Bampton

Registered office

Unit 2
College Business Park
Bourne End
Cranfield
Bedfordshire
MK43 0AX

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Energ.B. Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Energ.B. Limited for the year ended 31 March 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Energ.B. Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Energ.B. Limited and state those matters that we have agreed to state to the Board of Directors of Energ.B. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Energ.B. Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Energ.B. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Energ.B. Limited. You consider that Energ.B. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Energ.B. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

16 November 2023

 

Energ.B. Limited

(Registration number: 05433626)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

11,024

16,537

Tangible assets

5

46,658

51,291

 

57,682

67,828

Current assets

 

Stocks

6

10,000

10,000

Debtors

7

233,569

283,613

Cash at bank and in hand

 

148,056

1,102

 

391,625

294,715

Creditors: Amounts falling due within one year

8

(295,737)

(241,379)

Net current assets

 

95,888

53,336

Total assets less current liabilities

 

153,570

121,164

Creditors: Amounts falling due after more than one year

8

(10,000)

(20,000)

Provisions for liabilities

(8,865)

(9,745)

Net assets

 

134,705

91,419

Capital and reserves

 

Called up share capital

90

90

Retained earnings

134,615

91,329

Shareholders' funds

 

134,705

91,419

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.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

 

Energ.B. Limited

(Registration number: 05433626)
Balance Sheet as at 31 March 2023

.........................................
Mr D Bampton
Director

.........................................
Mr NK Bampton
Director

 

Energ.B. Limited

Notes to the Unaudited 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 and Wales. Registration number 05433626.

The address of its registered office is:
Unit 2
College Business Park
Bourne End
Cranfield
Bedfordshire
MK43 0AX

These financial statements were authorised for issue by the Board on 16 November 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.

Turnover

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Energ.B. Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Motor vehicles

12.5% on reducing balance

Furniture and fittings

25% on reducing balance

Plant and machinery

25% on reducing balance

Office equipment

33% on reducing balance

Plant and machinery - HP

12.5% on reducing balance

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

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.

Trade 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.

 

Energ.B. Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Energ.B. Limited

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

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 11 (2022 - 12).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

110,250

110,250

At 31 March 2023

110,250

110,250

Amortisation

At 1 April 2022

93,713

93,713

Amortisation charge

5,513

5,513

At 31 March 2023

99,226

99,226

Carrying amount

At 31 March 2023

11,024

11,024

At 31 March 2022

16,537

16,537

 

Energ.B. Limited

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

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2022

3,262

88,354

10,452

32,718

Additions

-

2,304

-

-

At 31 March 2023

3,262

90,658

10,452

32,718

Depreciation

At 1 April 2022

2,991

62,760

9,093

8,651

Charge for the year

68

3,408

453

3,008

At 31 March 2023

3,059

66,168

9,546

11,659

Carrying amount

At 31 March 2023

203

24,490

906

21,059

At 31 March 2022

271

25,594

1,359

24,067

Total
£

Cost or valuation

At 1 April 2022

134,786

Additions

2,304

At 31 March 2023

137,090

Depreciation

At 1 April 2022

83,495

Charge for the year

6,937

At 31 March 2023

90,432

Carrying amount

At 31 March 2023

46,658

At 31 March 2022

51,291

6

Stocks

2023
£

2022
£

Inventory

10,000

10,000

 

Energ.B. Limited

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

7

Debtors

2023
£

2022
£

Trade debtors

229,158

280,679

Prepayments

2,410

1,377

PAYE and NIC creditor

2,001

1,557

Total current trade and other debtors

233,569

283,613

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

10,000

53,535

Trade creditors

 

180,798

101,438

Director current account

601

6,615

Net wages control

 

-

5,443

Pension contributions unpaid

 

1,833

1,628

Accruals

 

4,139

5,825

Corporation tax control

 

41,955

19,823

VAT Control account

 

56,411

47,072

 

295,737

241,379

Due after one year

 

Loans and borrowings

9

10,000

20,000

 

Energ.B. Limited

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

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

10,000

20,000

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

43,535

Other borrowings

10,000

10,000

10,000

53,535

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £66,600 (2022 - £99,900).