0 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,780,854 9,855 1,790,709 356,025 89,535 445,560 1,345,149 1,424,829 xbrli:pure xbrli:shares iso4217:GBP SC510658 2022-08-01 2023-07-31 SC510658 2023-07-31 SC510658 2022-07-31 SC510658 2022-07-31 SC510658 core:PlantMachinery 2022-08-01 2023-07-31 SC510658 bus:Director1 2022-08-01 2023-07-31 SC510658 core:PlantMachinery 2022-07-31 SC510658 core:PlantMachinery 2023-07-31 SC510658 core:WithinOneYear 2023-07-31 SC510658 core:WithinOneYear 2022-07-31 SC510658 core:AfterOneYear 2023-07-31 SC510658 core:AfterOneYear 2022-07-31 SC510658 core:ShareCapital 2023-07-31 SC510658 core:ShareCapital 2022-07-31 SC510658 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC510658 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC510658 core:PlantMachinery 2022-07-31 SC510658 bus:SmallEntities 2022-08-01 2023-07-31 SC510658 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC510658 bus:FullAccounts 2022-08-01 2023-07-31 SC510658 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC510658 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: SC510658
Ormiston Energy Ltd
Filleted Unaudited Financial Statements
31 July 2023
Ormiston Energy Ltd
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,345,149
1,424,829
Current assets
Debtors
5
80,716
55,479
Cash at bank and in hand
478,131
236,924
---------
---------
558,847
292,403
Creditors: amounts falling due within one year
6
1,569,310
1,526,639
------------
------------
Net current liabilities
1,010,463
1,234,236
------------
------------
Total assets less current liabilities
334,686
190,593
Creditors: amounts falling due after more than one year
7
20,536
29,034
---------
---------
Net assets
314,150
161,559
---------
---------
Capital and reserves
Called up share capital
3
3
Profit and loss account
314,147
161,556
---------
---------
Shareholders funds
314,150
161,559
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ormiston Energy Ltd
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Mr A W Simmers
Director
Company registration number: SC510658
Ormiston Energy Ltd
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mains of Bogfechel, Whiterashes, Aberdeen, AB21 0QU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
5% straight line
4. Tangible assets
Plant and machinery
£
Cost
At 1 August 2022
1,780,854
Additions
9,855
------------
At 31 July 2023
1,790,709
------------
Depreciation
At 1 August 2022
356,025
Charge for the year
89,535
------------
At 31 July 2023
445,560
------------
Carrying amount
At 31 July 2023
1,345,149
------------
At 31 July 2022
1,424,829
------------
5. Debtors
2023
2022
£
£
Trade debtors
36,606
19,185
Other debtors
44,110
36,294
--------
--------
80,716
55,479
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,498
8,498
Trade creditors
9,172
528
Social security and other taxes
2,864
1,952
Scotfarms loan
240,310
240,310
Other creditors
1,308,466
1,275,351
------------
------------
1,569,310
1,526,639
------------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,536
29,034
--------
--------