2022-05-052023-05-312023-05-31falseSC731575OURNET.ENERGY 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OURNET.ENERGY LIMITED

Registered Number
SC731575
(Scotland)

Unaudited Financial Statements for the Period ended
31 May 2023

OURNET.ENERGY LIMITED
Company Information
for the period from 5 May 2022 to 31 May 2023

Directors

BROOK, Marcus Jonathan
YOUNG, Eric Macfie

Registered Address

Suite 2, Ground Floor Orchard Brae House
30 Queensferry Road
Edinburgh
EH4 2HS

Registered Number

SC731575 (Scotland)
OURNET.ENERGY LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

£

£

Fixed assets
Tangible assets5160,870
160,870
Current assets
Debtors26,957
Cash at bank and on hand36,556
63,513
Creditors amounts falling due within one year6154,787
Net current assets (liabilities)(91,274)
Total assets less current liabilities69,596
Creditors amounts falling due after one year7124,916
Net assets(55,320)
Capital and reserves
Called up share capital84
Profit and loss account(55,404)
Shareholders' funds(55,320)
The financial statements were approved and authorised for issue by the Board of Directors on 20 October 2023, and are signed on its behalf by:
BROOK, Marcus Jonathan
Director
Registered Company No. SC731575
OURNET.ENERGY LIMITED
Notes to the Financial Statements
for the period ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation will be provided when the assets are available for use.
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

2023
Average number of employees during the year1
5.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
Additions160,870160,870
At 31 May 23160,870160,870
Net book value
At 31 May 23160,870160,870
At 04 May 22--
6.Creditors within one year

2023

£
Trade creditors / trade payables138,904
Taxation and social security4,281
Other creditors10,882
Accrued liabilities and deferred income720
Total154,787
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.
7.Creditors after one year

2023

£
Other creditors124,916
Total124,916