Company registration number 08044676 (England and Wales)
ECOLUTION ENERGY TECHNOLOGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ECOLUTION ENERGY TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ECOLUTION ENERGY TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08044676)
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
6,785
7,991
Tangible assets
5
32,787
39,451
39,572
47,442
Current assets
Stocks
41,222
137,344
Debtors
6
274,918
875,028
Cash at bank and in hand
23,044
52,036
339,184
1,064,408
Creditors: amounts falling due within one year
7
(2,002,795)
(2,313,337)
Net current liabilities
(1,663,611)
(1,248,929)
Total assets less current liabilities
(1,624,039)
(1,201,487)
Creditors: amounts falling due after more than one year
8
(1,942)
(9,709)
Net liabilities
(1,625,981)
(1,211,196)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,626,081)
(1,211,296)
Total equity
(1,625,981)
(1,211,196)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ECOLUTION ENERGY TECHNOLOGIES LIMITED (REGISTERED NUMBER: 08044676)
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2024 and are signed on its behalf by:
K D Knapp
Director
ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Ecolution Energy Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the group will continue in operational existence for the foreseeable future.true

1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:


The company has entered into contractual agreements to perform planned and reactive maintenance services to customers. Turnover arising from such services is recognised once the maintenance services have been provided to the customer and is measured at the fair value of the service provided.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Straight line over 8 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
Straight line over 8 years
Fixtures, fittings & equipment
Straight line over 8 years
Motor vehicles
Straight line over 8 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
2
Judgements and key sources of estimation uncertainty
(Continued)
- 6 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

Depreciation is provided for on tangible fixed assets at the rates shown in accounting policies.

Work in progress

Work in progress is calculated as a percentage of materials leaving the warehouse in the last week of the financial year for ongoing projects which are unbilled at the year end.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
7
4
Intangible fixed assets
Software
£
Cost
At 1 July 2022 and 30 June 2023
9,645
Amortisation and impairment
At 1 July 2022
1,654
Amortisation charged for the year
1,206
At 30 June 2023
2,860
Carrying amount
At 30 June 2023
6,785
At 30 June 2022
7,991
ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022 and 30 June 2023
19,627
1,918
40,320
61,865
Depreciation and impairment
At 1 July 2022
10,002
654
11,758
22,414
Depreciation charged in the year
1,818
227
4,619
6,664
At 30 June 2023
11,820
881
16,377
29,078
Carrying amount
At 30 June 2023
7,807
1,037
23,943
32,787
At 30 June 2022
9,625
1,264
28,562
39,451
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
243,972
844,025
Other debtors
30,946
31,003
274,918
875,028
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,417
352,703
Amounts owed to group undertakings
1,949,311
1,827,496
Taxation and social security
21,341
2,913
Other creditors
17,726
130,225
2,002,795
2,313,337
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,942
9,709
ECOLUTION ENERGY TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
9
Financial commitments, guarantees and contingent liabilities

The company has entered into a cross guarantee arrangement with one of its bankers in relation to its parent Ecolution Group Limited and its fellow subsidiaries Ecolution Energy Services Limited and Ecolution Products Limited.

 

Loans and overdrafts are secured by fixed and floating charges over the company's assets both present and future.

 

A separate arrangement has been entered in to with its bankers which is also secured by fixed and floating charges over the company's assets both present and future.

10
Related party transactions

The truecompany has taken advantage of the exemption within FRS 102 from the requirement to disclose transactions entered into between two or more members of a group provided that any subsidiary which is party to the transaction is wholly owned by such a member.

11
Parent company

The immediate and ultimate parent company of Ecolution Energy Technologies Limited is Ecolution Group Limited and its registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

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