REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
NET ZERO PROJECTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
NET ZERO PROJECTS LIMITED |
NET ZERO PROJECTS LIMITED (REGISTERED NUMBER: 13589482) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NET ZERO PROJECTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Mercury House |
19-21 Chapel Street |
Marlow |
Buckinghamshire |
SL7 3HN |
NET ZERO PROJECTS LIMITED (REGISTERED NUMBER: 13589482) |
BALANCE SHEET |
31ST DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
NET ZERO PROJECTS LIMITED (REGISTERED NUMBER: 13589482) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
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 |
NET ZERO PROJECTS LIMITED (REGISTERED NUMBER: 13589482) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Net Zero Projects Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The directors consider this to be appropriate despite the balance sheet showing Net Liabilities of £149,696, because the directors and the subsidiary company are prepared to continue to support the company for the foreseeable future. |
As at 31 December 2023 Creditors: Amounts due with one year includes £106,096 owed to the directors and £54,627 owed to the company's subsidiary. Net Assets, after adjusting for these creditors would be £11,027.Consequently, the company is able to meet its 3rd-party liabilities as they fall due. |
Tangible fixed assets |
Office equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 year was |
4. | INTANGIBLE FIXED ASSETS |
Intangible fixed assets is currently stated at cost and therefore does not include any uplift for the market value of the underlying Intellectual Property that is in the process of being developed. Once the assets commence generating an income stream, the directors will consider a policy of annual revaluation and amortisation in accordance with FRS 102. |
5. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
Additions |
At 31st December 2023 |
DEPRECIATION |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
NET ZERO PROJECTS LIMITED (REGISTERED NUMBER: 13589482) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
The fixed asset investment represents the company's 100% interest in the ordinary share capital of Net Zero Projects ApS, a company registered in Denmark. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
VAT |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to associates | 54,629 | - |
Social security and other taxes |
Pension control | 257 | - |
Directors' current accounts | 105,736 | 46,488 |
Accrued expenses |
9. | RELATED PARTY DISCLOSURES |
During the period ended 31 December 2023, the company paid £36,625 for research and development services to Net Zero Projects ApS, a company registered in Denmark. The company owns 100% of the voting share capital in Net Zero Projects ApS. |
Included within creditors is an amount totalling £54,629 for research and development services owed to Net Zero Projects ApS at 31 December 2023. |