Company No:
Contents
DIRECTORS | Mr Matt Franks |
Mr Miles Lovegrove | |
Mr Peter McIntosh |
SECRETARY | Miss Miranda Hope |
REGISTERED OFFICE | Unit 31 |
Esam Carluddon Technology Park | |
Carluddon | |
St. Austell | |
England | |
PL26 8WE | |
United Kingdom |
COMPANY NUMBER | 08164283 (England and Wales) |
ACCOUNTANT | Francis Clark LLP |
Melville Building East | |
Unit 18, 23 Royal William Yard | |
Plymouth | |
Devon | |
PL1 3GW |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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100,048 | 108,756 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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14,294 | 13,159 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (66,091) | (75,996) | ||
Total assets less current liabilities | 33,957 | 32,760 | ||
Creditors: amounts falling due after more than one year | 6 |
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Ethical Energy Developments Ltd (registered number:
Mr Peter McIntosh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ethical Energy Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 31, Esam Carluddon Technology Park, Carluddon, St. Austell, England, PL26 8WE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Plant and machinery etc. |
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Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 August 2022 |
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rounding |
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At 31 July 2023 |
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Accumulated depreciation | |||
At 01 August 2022 |
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Charge for the financial year |
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At 31 July 2023 |
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Net book value | |||
At 31 July 2023 |
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At 31 July 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Prepayments and accrued income |
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VAT recoverable |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
2023 | 2022 | ||
£ | £ | ||
At start of period | 39,500 | 38,000 | |
Advanced | 0 | 4,500 | |
Repaid | (2,000) | (3,000) | |
At end of period | 37,500 | 39,500 |
Terms of loans from related parties
Loans owed to other related parties are interest free and repayable on demand.