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Registration number: 07359033

Integrated Energy Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 27 February 2023

 

Integrated Energy Solutions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Integrated Energy Solutions Limited

(Registration number: 07359033)
Balance Sheet as at 27 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,144

6,033

Current assets

 

Stocks

5

6,650

22,134

Debtors

6

138,068

104,083

Cash at bank and in hand

 

27,056

28,568

 

171,774

154,785

Creditors: Amounts falling due within one year

7

(101,794)

(116,323)

Net current assets

 

69,980

38,462

Total assets less current liabilities

 

75,124

44,495

Creditors: Amounts falling due after more than one year

7

(38,223)

(42,997)

Provisions for liabilities

(1,286)

(1,146)

Net assets

 

35,615

352

Capital and reserves

 

Called up share capital

8

8

Retained earnings

35,607

344

Shareholders' funds

 

35,615

352

For the financial year ending 27 February 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

 

Integrated Energy Solutions Limited

(Registration number: 07359033)
Balance Sheet as at 27 February 2023

.........................................
Mr J P H James
Director

 

Integrated Energy Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 February 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:
10 Chadbourne Close
Armthorpe
Doncaster
South Yorkshire
DN3 3RG

These financial statements were authorised for issue by the Board on 22 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.

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.

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.

 

Integrated Energy Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 February 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

Plant and machinery

4 years straight line basis

Motor vehicles

25% reducing balance basis

Office equipment

4 years straight line basis

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.

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.

 

Integrated Energy Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Integrated Energy Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 28 February 2022

10,519

24,739

35,258

Additions

1,455

-

1,455

At 27 February 2023

11,974

24,739

36,713

Depreciation

At 28 February 2022

7,415

21,810

29,225

Charge for the year

1,611

733

2,344

At 27 February 2023

9,026

22,543

31,569

Carrying amount

At 27 February 2023

2,948

2,196

5,144

At 27 February 2022

3,104

2,929

6,033

5

Stocks

2023
£

2022
£

Work in progress

4,850

20,334

Other inventories

1,800

1,800

6,650

22,134

6

Debtors

2023
£

2022
£

Trade debtors

61,913

77,589

Other debtors

74,816

9,357

Prepayments

1,339

17,137

138,068

104,083

 

Integrated Energy Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,957

7,140

Trade creditors

 

33,580

33,633

Amounts owed to related parties

23,084

17,275

Taxation and social security

 

-

17,169

Corporation tax

 

27,236

11,094

Other creditors

 

7,102

15,298

Accrued expenses

 

4,835

14,714

 

101,794

116,323

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

38,223

42,997

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

38,223

42,997

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,957

7,140