Registered number
09019097
N-ERGY Limited
Unaudited Filleted Accounts
30 April 2023
N-ERGY Limited
Registered number: 09019097
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 17,860 23,815
Current assets
Debtors 4 80,474 453,749
Cash at bank and in hand 1 87,102
80,475 540,851
Creditors: amounts falling due within one year 5 (38,494) (399,637)
Net current assets 41,981 141,214
Total assets less current liabilities 59,841 165,029
Provisions for liabilities (4,588) (4,588)
Net assets 55,253 160,441
Capital and reserves
Called up share capital 75 75
Share premium 110,000 110,000
Profit and loss account (54,822) 50,366
Shareholders' funds 55,253 160,441
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Bowman
Director
Approved by the board on 31 January 2024
N-ERGY Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Accounting policies (cont'd)
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 4
3 Tangible fixed assets
Fixtures and equipment
£
Cost
At 1 May 2022 73,134
At 30 April 2023 73,134
Depreciation
At 1 May 2022 49,319
Charge for the year 5,955
At 30 April 2023 55,274
Net book value
At 30 April 2023 17,860
At 30 April 2022 23,815
4 Debtors 2023 2022
£ £
Trade debtors - 193,958
Other debtors 80,474 259,791
80,474 453,749
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 35 -
Obligations under finance lease and hire purchase contracts - 17,306
Trade creditors 13,078 341,661
Taxation and social security costs 23,381 39,670
Other creditors 2,000 1,000
38,494 399,637
6 Controlling party
The ultimate controlling party is R J International Ltd. A company controlled by the director D Bowman.
7 Other information
N-ERGY Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 715b, Street 3
Thorp Arch Estate
Wetherby
West Yorkshire
LS23 7FY
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