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Registration number: 08635305

Ludlow Bio Energy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Ludlow Bio Energy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Ludlow Bio Energy Limited

Company Information

Director

Mr P D Dobson

Company secretary

Mr P D Dobson

Registered office

Unit 7, Stanley Court
Richard Jones Road
Witney
Oxfordshire
OX29 0TB

 

Ludlow Bio Energy Limited

(Registration number: 08635305)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

575,284

827,010

Current assets

 

Stocks

5

232,719

315,594

Debtors

6

5,191,906

4,972,598

Cash at bank and in hand

 

375,306

234,441

 

5,799,931

5,522,633

Creditors: Amounts falling due within one year

7

(189,630)

(185,917)

Net current assets

 

5,610,301

5,336,716

Total assets less current liabilities

 

6,185,585

6,163,726

Creditors: Amounts falling due after more than one year

7

(1,883,843)

(2,008,699)

Provisions for liabilities

(62,684)

(82,715)

Net assets

 

4,239,058

4,072,312

capital and reserves

 

Called up share capital

8

2,850,010

2,850,010

Profit and loss account

1,389,048

1,222,302

Total equity

 

4,239,058

4,072,312

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

 

Ludlow Bio Energy Limited

(Registration number: 08635305)
Balance Sheet as at 31 August 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 November 2023
 

Mr P D Dobson
Company secretary and director

 

Ludlow Bio Energy Limited

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

1

General information

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

The address of its registered office is:
Unit 7, Stanley Court
Richard Jones Road
Witney
Oxfordshire
OX29 0TB

The principal place of business is:
Land off Park Lane
Park Lane
Woofferton
Ludlow
Shropshire
SY8 4AJ

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Ludlow Bio Energy Limited

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

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.

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

Plant and machinery

10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Ludlow Bio Energy Limited

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

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

3,199,886

3,199,886

Additions

78,392

78,392

Disposals

(33,800)

(33,800)

At 31 August 2023

3,244,478

3,244,478

Depreciation

At 1 September 2022

2,372,876

2,372,876

Charge for the year

324,197

324,197

Eliminated on disposal

(27,879)

(27,879)

At 31 August 2023

2,669,194

2,669,194

Carrying amount

At 31 August 2023

575,284

575,284

At 31 August 2022

827,010

827,010

5

Stocks

2023
£

2022
£

Other inventories

232,719

315,594

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

638

18,275

Amounts owed by related parties

4,691,077

4,705,704

Other debtors

 

500,191

248,619

   

5,191,906

4,972,598

 

Ludlow Bio Energy Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

70,184

58,060

Accruals and deferred income

119,446

127,857

189,630

185,917

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

1,883,843

2,008,699

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2,850,010

2,850,010

2,850,010

2,850,010

         

9

Parent and ultimate parent undertaking

The company's immediate parent is Ludlow Bio Energy Holdings Ltd, incorporated in England & Wales.