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REGISTERED NUMBER: NI690170 (Northern Ireland)















FINANCIAL STATEMENTS

FOR THE PERIOD

4 AUGUST 2022 TO 30 SEPTEMBER 2023

FOR

SHARE ENERGY TRADING LTD

SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


SHARE ENERGY TRADING LTD

COMPANY INFORMATION
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023







DIRECTORS: J K Barr
D Wilson
C McClean



REGISTERED OFFICE: 37 Dargan Road
Fortwilliam Business Park
Belfast
BT3 9LZ



REGISTERED NUMBER: NI690170 (Northern Ireland)



AUDITORS: Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Belfast
BT1 3BG



SOLICITORS: Arthur Cox
Victoria House
15-17 Gloucester St.
Belfast
BT1 4LS

SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

BALANCE SHEET
30 SEPTEMBER 2023

Notes £    £   
FIXED ASSETS
Intangible assets 4 197,333
Tangible assets 5 4,264
201,597

CURRENT ASSETS
Debtors 6 5,829
Cash at bank 28,255
34,084
CREDITORS
Amounts falling due within one year 7 484,122
NET CURRENT LIABILITIES (450,038 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(248,441

)

CAPITAL AND RESERVES
Called up share capital 10
Retained earnings (248,451 )
SHAREHOLDERS' FUNDS (248,441 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





D Wilson - Director


SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Share Energy Trading Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Going Concern
The company was incorporated on 4 August 2022 and is in the "start up" phase and is due to commence trading in the year ended 30 September 2024. The directors have prepared budgets and cashflow forecasts for the next 12 months and are satisfied that the company will have adequate resources to meet their liabilities as they fall due.

At the end of the period the company owes related parties £415,472. These related parties have confirmed they will not recall the balances to such times as the company has adequate resources to repay the balances.

Having taken these factors into consideration the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting has been adopted in preparing the annual financial statements.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation
Taxation for the period 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 197,333
At 30 September 2023 197,333
NET BOOK VALUE
At 30 September 2023 197,333

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 4,820
At 30 September 2023 4,820
DEPRECIATION
Charge for period 556
At 30 September 2023 556
NET BOOK VALUE
At 30 September 2023 4,264

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 5,829

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 18,268
Amounts owed to related parties 433,908
Taxation and social security 13,767
Other creditors 18,179
484,122

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

The Report of the Auditors was unqualified.

Eimear Brown (Senior Statutory Auditor)
for and on behalf of Baker Tilly Mooney Moore

SHARE ENERGY TRADING LTD (REGISTERED NUMBER: NI690170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 AUGUST 2022 TO 30 SEPTEMBER 2023


9. RELATED PARTY DISCLOSURES

At period end the company has balances owing to related parties of £433,908 as disclosed in note 7 of the financial statements. These amounts were advanced during the period. Included in the balance is an amount of £367,607 which is repayable on demand and is interest bearing at 2.5% over the bank of england base rate. The remaining balance of £66,301 is unsecured, repayable on demand and interest free.