Acorah Software Products - Accounts Production 14.5.501 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 NI608986 Mr Robert Huey Mrs Lavina Morrow RG Huey true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI608986 2022-06-30 NI608986 2023-06-30 NI608986 2022-07-01 2023-06-30 NI608986 frs-core:CurrentFinancialInstruments 2023-06-30 NI608986 frs-core:Non-currentFinancialInstruments 2023-06-30 NI608986 frs-core:BetweenOneFiveYears 2023-06-30 NI608986 frs-core:ComputerEquipment 2023-06-30 NI608986 frs-core:ComputerEquipment 2022-07-01 2023-06-30 NI608986 frs-core:ComputerEquipment 2022-06-30 NI608986 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 NI608986 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 NI608986 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-06-30 NI608986 frs-core:MotorVehicles 2023-06-30 NI608986 frs-core:MotorVehicles 2022-07-01 2023-06-30 NI608986 frs-core:MotorVehicles 2022-06-30 NI608986 frs-core:PlantMachinery 2023-06-30 NI608986 frs-core:PlantMachinery 2022-07-01 2023-06-30 NI608986 frs-core:PlantMachinery 2022-06-30 NI608986 frs-core:WithinOneYear 2023-06-30 NI608986 frs-core:ShareCapital 2023-06-30 NI608986 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI608986 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 NI608986 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 NI608986 frs-bus:SmallEntities 2022-07-01 2023-06-30 NI608986 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 NI608986 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 NI608986 1 2022-07-01 2023-06-30 NI608986 frs-bus:Director1 2022-07-01 2023-06-30 NI608986 frs-bus:CompanySecretary1 2022-07-01 2023-06-30 NI608986 frs-countries:NorthernIreland 2022-07-01 2023-06-30 NI608986 2021-06-30 NI608986 2022-06-30 NI608986 2021-07-01 2022-06-30 NI608986 frs-core:CurrentFinancialInstruments 2022-06-30 NI608986 frs-core:Non-currentFinancialInstruments 2022-06-30 NI608986 frs-core:BetweenOneFiveYears 2022-06-30 NI608986 frs-core:MotorVehicles 2021-07-01 2022-06-30 NI608986 frs-core:PlantMachinery 2021-07-01 2022-06-30 NI608986 frs-core:WithinOneYear 2022-06-30 NI608986 frs-core:ShareCapital 2022-06-30 NI608986 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: NI608986
Oakdene Biogas Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI608986
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,627,543 1,365,608
1,627,543 1,365,608
CURRENT ASSETS
Debtors 5 830,645 617,799
Cash at bank and in hand 166,497 111,580
997,142 729,379
Creditors: Amounts Falling Due Within One Year 6 (381,122 ) (329,241 )
NET CURRENT ASSETS (LIABILITIES) 616,020 400,138
TOTAL ASSETS LESS CURRENT LIABILITIES 2,243,563 1,765,746
Creditors: Amounts Falling Due After More Than One Year 7 (72,042 ) (70,839 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (352,310 ) (270,955 )
NET ASSETS 1,819,211 1,423,952
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 1,819,210 1,423,951
SHAREHOLDERS' FUNDS 1,819,211 1,423,952
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For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Huey
Director
21/03/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oakdene Biogas Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI608986 . The registered office is 125 Strabane Road, Castlederg, Tyrone, BT81 7JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the invoiced value of goods supplied during the year excluding value added tax. Revenue is recognised upon supply of power, which is when a sale and debt is transferred to the power generator.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold 0%
Plant & Machinery 5-10%
Motor Vehicles 10-20%
Computer Equipment 20%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting year. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past years. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
2.7. Debtors
Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection.
2.8. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the year it arises.
2.9. Foreign currencies
Transactions denominated in foreign currencies are translated at the exchange rate at the date of the transaction. All assets and liabilities denominated in foreign currency are translated at the rate of exchange ruling at the balance sheet date or the exchange rate of a related exchange contract where appropriate. The resulting gain or loss is taken to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2022 18,751 1,533,012 345,854 4,999 1,902,616
Additions - 326,884 112,715 3,987 443,586
As at 30 June 2023 18,751 1,859,896 458,569 8,986 2,346,202
Depreciation
As at 1 July 2022 - 395,273 138,045 3,690 537,008
Provided during the period - 105,945 74,807 899 181,651
As at 30 June 2023 - 501,218 212,852 4,589 718,659
...CONTINUED
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Net Book Value
As at 30 June 2023 18,751 1,358,678 245,717 4,397 1,627,543
As at 1 July 2022 18,751 1,137,739 207,809 1,309 1,365,608
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 12,286 15,358
Motor Vehicles 244,696 182,527
256,982 197,885
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 678,981 436,429
Prepayments and accrued income 30,242 19,065
Other debtors 121,422 133,549
Corporation tax recoverable assets - 28,756
830,645 617,799
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 54,725 75,826
Bank loans and overdrafts 10,644 10,644
Corporation tax 3,903 -
Other taxes and social security 28,695 10,905
Other creditors 165,353 158,930
Accruals and deferred income 117,802 72,936
381,122 329,241
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 50,325 39,425
Bank loans 21,717 31,414
72,042 70,839
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8. Secured Creditors
By a charge dated 8 July 2016 and created by the company the land comprised in Folio TY93724 County Tyrone comprising approximately 1 acre situate at Drumnabey Road, Castlederg, Co Tyrone and owned by the company was charged to The Governor and Company of The Bank of Ireland as security for all monies now owing or which shall become owing in the future to Bank of Ireland.
2023 2022
£ £
Bank loans and overdrafts 32,360 42,058
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 54,725 75,826
Later than one year and not later than five years 50,325 39,425
105,050 115,251
105,050 115,251
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 352,310 270,955
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
12. Contingent Liabilities
There were no commitments, guarantees or contingencies at 30 June 2022 (2021: None).
13. Post Balance Sheet Events
There have been no significant events affecting the company since the year end.
14. Related Party Transactions
Oakdene farm is regarded as a related party as defined by FRS102 by virtue of RG Huey being a partner in Oakdene farm. Included within ‘Other debtors’ is £121,423 (2022: £133,548) owing to Oakdene farm.
Oakdene Renewable Energy Ltd is regarded as a related party as defined by FRS102 by virtue of RG Huey being a director of that company. Included within ‘Other creditors’ is £131,396 (2022: £132,522) owing to Oakdene Renewable Energy Ltd.
Included within ‘Other creditors’ is £32,756 (2022: £25,208) owing to the director of the company.
15. Ultimate Controlling Party
The company's ultimate controlling party is RG Huey by virtue of his ownership of 100% of the issued share capital in the company.
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