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Registration number: 14382198

Ask Renewables Holdings Ltd

Unaudited Filleted Financial Statements

for the Period from 28 September 2022 to 31 December 2023

 

Ask Renewables Holdings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ask Renewables Holdings Ltd

Company Information

Directors

Miss Samantha Louise Kidd

Mr Antony Lawrance Stewart

Registered office

Unit 10 Spring Park
Clayburn Road
Grimethorpe
Barnsley
South Yorkshire
S72 7FD

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Ask Renewables Holdings Ltd

(Registration number: 14382198)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investments

4

100

Current assets

 

Debtors

5

766,451

Cash at bank and in hand

 

310,017

 

1,076,468

Creditors: Amounts falling due within one year

6

(140,804)

Net current assets

 

935,664

Net assets

 

935,764

Capital and reserves

 

Called up share capital

7

100

Retained earnings

935,664

Shareholders' funds

 

935,764

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 March 2024 and signed on its behalf by:
 

.........................................
Miss Samantha Louise Kidd
Director

 

Ask Renewables Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 10 Spring Park
Clayburn Road
Grimethorpe
Barnsley
South Yorkshire
S72 7FD

These financial statements were authorised for issue by the Board on 29 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

The tax expense for the period comprises current tax. 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.

 

Ask Renewables Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ask Renewables Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investments

2023
£

Investments in subsidiaries

100

Subsidiaries

£

Cost or valuation

Additions

100

Provision

Carrying amount

At 31 December 2023

100

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

Subsidiary undertakings

Ask Renwables Limited

Unit 10, Clayburn Road, BARNSLEY S72 7FD

England and Wales

Ordinary

100%

 

Ask Renewables Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 31 December 2023

Subsidiary undertakings

Ask Renwables Limited

The principal activity of Ask Renwables Limited is the installation of energy savings systems.

5

Debtors

Note

2023
£

Amounts owed by related parties

8

716,451

Other debtors

 

50,000

 

766,451

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

84

Accruals and deferred income

720

Other creditors

140,000

140,804

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     

8

Related party transactions

Summary of transactions with other related parties

Ask Renewables Property Limited
 

Loans to related parties

 

Ask Renewables Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 31 December 2023

2023

Other related parties
£

Total
£

Advanced

716,451

716,451

At end of period

716,451

716,451