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REGISTERED NUMBER: 11899462 (England and Wales)



Financial Statements for the Year Ended 31 March 2023

for

ENERGY INTELLIGENCE CENTRE LIMITED

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 8


ENERGY INTELLIGENCE CENTRE LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr A S Dosanjh
Mr P S Dosanjh





REGISTERED OFFICE: Monarch House
7-9 Stafford Road
Wallington
Surrey
SM6 9AN





REGISTERED NUMBER: 11899462 (England and Wales)





AUDITORS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,457,122 1,699,975
Tangible assets 5 1,520 2,163
1,458,642 1,702,138

CURRENT ASSETS
Debtors 6 1,265,235 1,902,088
Cash at bank 401,095 678,504
1,666,330 2,580,592
CREDITORS
Amounts falling due within one year 7 (2,942,187 ) (4,180,563 )
NET CURRENT LIABILITIES (1,275,857 ) (1,599,971 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,785

102,167

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 182,685 102,067
SHAREHOLDERS' FUNDS 182,785 102,167

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





Mr P S Dosanjh - Director


ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


1. STATUTORY INFORMATION

ENERGY INTELLIGENCE CENTRE LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures & Fittings - 25% on reducing balance
Computer equipment- 33% on straight line

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and all 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.

Foreign currency transactions and balances.
Transactions in a foreign currency are initially recorded at an average standard exchange rate. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective financial currency of the entity at the rate prevailing on the reporting period date.

Debtors and creditors receivable/payable within one year.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognized in the profit and loss account in other administrative expenses.

Director and Inter-company loans
Loans provided by the director or Inter-company loans considered to be neutral persons, will be measured at amortised cost calculated using the initial recognition date transaction price with an effective interest rate of 0%.

Taxation
Taxation for the year 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Employee benefits
When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value

Impairment
Assets not valued at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Government grants
The company receives government grants in respect of furlough of employees. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Going concern
As part of their assessment of going concern, the directors of the company have considered the liquidity position and funding requirements for at least 12 months from the date of approval of these financial statements. The directors consider it appropriate to prepare the financial statement on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2022 - 72 ) .

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 2,428,535
AMORTISATION
At 1 April 2022 728,560
Amortisation for year 242,853
At 31 March 2023 971,413
NET BOOK VALUE
At 31 March 2023 1,457,122
At 31 March 2022 1,699,975

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 2,806
DEPRECIATION
At 1 April 2022 643
Charge for year 643
At 31 March 2023 1,286
NET BOOK VALUE
At 31 March 2023 1,520
At 31 March 2022 2,163

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 628,781 1,373,494
Other debtors 3,561 3,186
Accrued income 555,962 469,903
Prepayments 76,931 55,505
1,265,235 1,902,088

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 8) 353,125 494,375
Trade creditors 149,846 108,898
Amounts owed to group undertakings 989,125 1,509,127
Tax 292,484 426,263
Social security and other taxes 72,133 78,891
Pension liability 16,983 32,383
VAT 73,083 243,018
Other creditors - 915
Wages control 37,419 36,798
Provision for doubtful debts 63,109 51,909
Deferred income 862,145 1,139,588
Accrued expenses 32,735 58,398
2,942,187 4,180,563

8. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 353,125 494,375

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 102,067
Profit for the year 80,618
At 31 March 2023 182,685

ENERGY INTELLIGENCE CENTRE LIMITED (Registered number: 11899462)

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


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alan Kaye FCA (Senior Statutory Auditor)
for and on behalf of BBK Partnership

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. PARENT COMPANY

The company is wholly owned by Majestic Securities Limited, a company registered in England and Wales. The largest and smallest group in which the results of the company are consolidated is that headed by Majestic Securities Limited. The registered office of Majestic Securities Limited is Monarch House, 7-9 Stafford Road, Wallington, Surrey, SM6 9AN. The consolidated accounts are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

14. CHARGES

The company has entered into a debenture charge on 13 August 2020 with Barclays Bank PLC, who holds a fixed and floating charge over the asset of the company.