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REGISTERED NUMBER: 00494552 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Budget Power & Energy Limited

Budget Power & Energy Limited (Registered number: 00494552)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Budget Power & Energy Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R Bailey





REGISTERED OFFICE: Nagington Grange
Childs Ercall
Market Drayton
Shropshire
TF9 2TW





REGISTERED NUMBER: 00494552 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

Budget Power & Energy Limited (Registered number: 00494552)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,867 1,467
Investments 5 188,617 188,617
192,484 190,084

CURRENT ASSETS
Debtors 6 11,822 7,718
Cash at bank 77,067 230,455
88,889 238,173
CREDITORS
Amounts falling due within one year 7 255,300 353,885
NET CURRENT LIABILITIES (166,411 ) (115,712 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,073

74,372

CAPITAL AND RESERVES
Called up share capital 26,000 26,000
Retained earnings 73 48,372
SHAREHOLDERS' FUNDS 26,073 74,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 February 2024 and were signed by:




R Bailey - Director


Budget Power & Energy Limited (Registered number: 00494552)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Budget Power & Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The Company has net current liabilities of £166,411 (2022: £115,712). The shareholder has confirmed to the directors, in writing, that he will continue to support he operations of the company for the foreseeable future to enable it to continue as a going concern. On the basis of this support the directors consider it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Budget Power & Energy Limited (Registered number: 00494552)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST
At 1 July 2022 5,502 21,900 27,402
Additions 2,500 - 2,500
At 30 June 2023 8,002 21,900 29,902
DEPRECIATION
At 1 July 2022 4,035 21,900 25,935
Charge for year 100 - 100
At 30 June 2023 4,135 21,900 26,035
NET BOOK VALUE
At 30 June 2023 3,867 - 3,867
At 30 June 2022 1,467 - 1,467

5. FIXED ASSET INVESTMENTS

Investments comprise interests in fishing rights in Scotland.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Prepayments 11,822 7,718

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Tax 15,289 5,302
Social security and other taxes 1,137 1,894
Other creditors - 127,872
Loan from associated company 215,867 215,867
Directors' loan accounts 19,526 550
Accrued expenses 3,481 2,400
255,300 353,885

Budget Power & Energy Limited (Registered number: 00494552)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. RELATED PARTY DISCLOSURES

The Loans to and from associated companies relate to the inter-company indebtedness with Alfa Aggregates Products Limited, a company in which Mr R Bailey has a controlling interest.

Included in creditors is an inter-company balance of £215,867 (2022: £215,867). The loan is interest free and there are no set repayment dates.

During the year the Company was paid management charges amounting to £42,000 (2022: £42,000) for the services of Mr R Bailey, by Alfa Aggregates Products Ltd.