0 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,957,589 226,078 2,183,667 392,866 109,183 502,049 1,681,618 1,564,723 xbrli:pure xbrli:shares iso4217:GBP SC510683 2022-08-01 2023-07-31 SC510683 2023-07-31 SC510683 2022-07-31 SC510683 2021-08-01 2022-07-31 SC510683 2022-07-31 SC510683 core:PlantMachinery 2022-08-01 2023-07-31 SC510683 bus:Director1 2022-08-01 2023-07-31 SC510683 core:WithinOneYear 2023-07-31 SC510683 core:WithinOneYear 2022-07-31 SC510683 core:PlantMachinery 2022-07-31 SC510683 core:PlantMachinery 2023-07-31 SC510683 core:ShareCapital 2023-07-31 SC510683 core:ShareCapital 2022-07-31 SC510683 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC510683 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC510683 core:PlantMachinery 2022-07-31 SC510683 bus:SmallEntities 2022-08-01 2023-07-31 SC510683 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC510683 bus:FullAccounts 2022-08-01 2023-07-31 SC510683 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC510683 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: SC510683
Folla Energy Ltd
Filleted Unaudited Financial Statements
31 July 2023
Folla Energy Ltd
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,681,618
1,564,723
Current assets
Debtors
5
47,971
36,411
Cash at bank and in hand
36,983
152,757
--------
---------
84,954
189,168
Creditors: amounts falling due within one year
6
1,469,433
1,457,298
------------
------------
Net current liabilities
1,384,479
1,268,130
------------
------------
Total assets less current liabilities
297,139
296,593
---------
---------
Net assets
297,139
296,593
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
297,137
296,591
---------
---------
Shareholders funds
297,139
296,593
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Folla Energy Ltd
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Mr A W Simmers
Director
Company registration number: SC510683
Folla Energy Ltd
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mains of Bogfechel, Whiterashes, Aberdeen, AB21 0QU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5% straight line
4. Tangible assets
Plant and machinery
£
Cost
At 1 August 2022
1,957,589
Additions
226,078
------------
At 31 July 2023
2,183,667
------------
Depreciation
At 1 August 2022
392,866
Charge for the year
109,183
------------
At 31 July 2023
502,049
------------
Carrying amount
At 31 July 2023
1,681,618
------------
At 31 July 2022
1,564,723
------------
5. Debtors
2023
2022
£
£
Trade debtors
14,502
21,113
Prepayments and accrued income
17,447
15,277
Other debtors
16,022
21
--------
--------
47,971
36,411
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
389
Amounts owed to group undertakings
1,130,712
1,007,713
Accruals and deferred income
70,309
26,513
Director loan accounts
28,102
182,373
Scotfarms Loan
240,310
240,310
------------
------------
1,469,433
1,457,298
------------
------------