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Registered number: 12044362
Energy Monkey Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12044362
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,760 51,393
Tangible Assets 5 29,271 30,150
70,031 81,543
CURRENT ASSETS
Stocks 6 434,386 190,916
Debtors 7 214,329 215,413
Cash at bank and in hand 331,977 101,236
980,692 507,565
Creditors: Amounts Falling Due Within One Year 8 (657,779 ) (340,044 )
NET CURRENT ASSETS (LIABILITIES) 322,913 167,521
TOTAL ASSETS LESS CURRENT LIABILITIES 392,944 249,064
Creditors: Amounts Falling Due After More Than One Year 9 (19,583 ) (28,983 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,508 ) (20,385 )
NET ASSETS 355,853 199,696
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 355,653 199,496
SHAREHOLDERS' FUNDS 355,853 199,696
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Penny Wright
Director
27/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Energy Monkey Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12044362 . The registered office is 20 Awebridge Way, Gloucester, GL4 4FQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software.  It is amortised to the  profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
4 3
4. Intangible Assets
Other
£
Cost
As at 1 July 2022 53,165
As at 30 June 2023 53,165
Amortisation
As at 1 July 2022 1,772
Provided during the period 10,633
As at 30 June 2023 12,405
Net Book Value
As at 30 June 2023 40,760
As at 1 July 2022 51,393
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2022 9,395 16,399 9,457 12,723 47,974
Additions - - 2,569 9,709 12,278
As at 30 June 2023 9,395 16,399 12,026 22,432 60,252
...CONTINUED
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Depreciation
As at 1 July 2022 2,387 7,175 1,904 6,358 17,824
Provided during the period 2,349 2,306 2,741 5,761 13,157
As at 30 June 2023 4,736 9,481 4,645 12,119 30,981
Net Book Value
As at 30 June 2023 4,659 6,918 7,381 10,313 29,271
As at 1 July 2022 7,008 9,224 7,553 6,365 30,150
6. Stocks
2023 2022
£ £
Finished goods 434,386 190,916
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 203,490 204,801
Other debtors 10,839 10,612
214,329 215,413
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 304,815 205,593
Bank loans and overdrafts 9,400 9,400
Other creditors 179,238 18,526
Taxation and social security 164,326 106,525
657,779 340,044
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 19,583 28,983
19,583 28,983
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
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