Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr Matt Franks 09/09/2015 Mr Miles Lovegrove 09/09/2015 Mr Peter McIntosh 01/08/2012 07 February 2024 The principal activity of the company is the production and distribution of electricity. 08164283 2023-07-31 08164283 bus:Director1 2023-07-31 08164283 bus:Director2 2023-07-31 08164283 bus:Director3 2023-07-31 08164283 2022-07-31 08164283 core:CurrentFinancialInstruments 2023-07-31 08164283 core:CurrentFinancialInstruments 2022-07-31 08164283 core:Non-currentFinancialInstruments 2023-07-31 08164283 core:Non-currentFinancialInstruments 2022-07-31 08164283 core:ShareCapital 2023-07-31 08164283 core:ShareCapital 2022-07-31 08164283 core:RetainedEarningsAccumulatedLosses 2023-07-31 08164283 core:RetainedEarningsAccumulatedLosses 2022-07-31 08164283 core:OtherPropertyPlantEquipment 2022-07-31 08164283 core:OtherPropertyPlantEquipment 2023-07-31 08164283 bus:OrdinaryShareClass1 2023-07-31 08164283 2022-08-01 2023-07-31 08164283 bus:FilletedAccounts 2022-08-01 2023-07-31 08164283 bus:SmallEntities 2022-08-01 2023-07-31 08164283 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08164283 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08164283 bus:Director1 2022-08-01 2023-07-31 08164283 bus:Director2 2022-08-01 2023-07-31 08164283 bus:Director3 2022-08-01 2023-07-31 08164283 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 08164283 2021-08-01 2022-07-31 08164283 core:OtherPropertyPlantEquipment 1 2022-08-01 2023-07-31 08164283 1 2022-08-01 2023-07-31 08164283 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 08164283 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 08164283 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08164283 (England and Wales)

ETHICAL ENERGY DEVELOPMENTS LTD

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

ETHICAL ENERGY DEVELOPMENTS LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

ETHICAL ENERGY DEVELOPMENTS LTD

COMPANY INFORMATION

For the financial year ended 31 July 2023
ETHICAL ENERGY DEVELOPMENTS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTORS Mr Matt Franks
Mr Miles Lovegrove
Mr Peter McIntosh
SECRETARY Miss Miranda Hope
REGISTERED OFFICE Unit 31
Esam Carluddon Technology Park
Carluddon
St. Austell
England
PL26 8WE
United Kingdom
COMPANY NUMBER 08164283 (England and Wales)
ACCOUNTANT Francis Clark LLP
Melville Building East
Unit 18, 23 Royal William Yard
Plymouth
Devon
PL1 3GW
ETHICAL ENERGY DEVELOPMENTS LTD

BALANCE SHEET

As at 31 July 2023
ETHICAL ENERGY DEVELOPMENTS LTD

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 100,048 108,756
100,048 108,756
Current assets
Debtors 4 12,383 8,123
Cash at bank and in hand 1,911 5,036
14,294 13,159
Creditors: amounts falling due within one year 5 ( 80,385) ( 89,155)
Net current liabilities (66,091) (75,996)
Total assets less current liabilities 33,957 32,760
Creditors: amounts falling due after more than one year 6 0 ( 2,283)
Provision for liabilities ( 6,900) ( 6,731)
Net assets 27,057 23,746
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account 27,054 23,743
Total shareholders' funds 27,057 23,746

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

Directors' responsibilities:

The financial statements of Ethical Energy Developments Ltd (registered number: 08164283) were approved and authorised for issue by the Board of Directors on 07 February 2024. They were signed on its behalf by:

Mr Peter McIntosh
Director
ETHICAL ENERGY DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
ETHICAL ENERGY DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ethical Energy Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 31, Esam Carluddon Technology Park, Carluddon, St. Austell, England, PL26 8WE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.
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.

Taxation

Current 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.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 8 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2022 212,468 212,468
rounding 0 0
At 31 July 2023 212,468 212,468
Accumulated depreciation
At 01 August 2022 103,712 103,712
Charge for the financial year 8,708 8,708
At 31 July 2023 112,420 112,420
Net book value
At 31 July 2023 100,048 100,048
At 31 July 2022 108,756 108,756

4. Debtors

2023 2022
£ £
Trade debtors 1,994 757
Prepayments and accrued income 10,389 6,688
VAT recoverable 0 678
12,383 8,123

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 2,310 8,875
Trade creditors 2,160 360
Other taxation and social security 245 0
Other creditors 75,670 79,920
80,385 89,155

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 2,283

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30 Ordinary shares of £ 0.10 each 3 3

8. Related party transactions

Other related party transactions

2023 2022
£ £
At start of period 39,500 38,000
Advanced 0 4,500
Repaid (2,000) (3,000)
At end of period 37,500 39,500

Terms of loans from related parties
Loans owed to other related parties are interest free and repayable on demand.