Caseware UK (AP4) 2022.0.179 2022.0.179 2024-04-052024-04-05false4Production of electricity2023-04-064truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC423885 2023-04-06 2024-04-05 SC423885 2022-04-06 2023-04-05 SC423885 2024-04-05 SC423885 2023-04-05 SC423885 c:CompanySecretary1 2023-04-06 2024-04-05 SC423885 c:Director1 2023-04-06 2024-04-05 SC423885 c:Director2 2023-04-06 2024-04-05 SC423885 c:Director3 2023-04-06 2024-04-05 SC423885 c:Director4 2023-04-06 2024-04-05 SC423885 c:RegisteredOffice 2023-04-06 2024-04-05 SC423885 d:CurrentFinancialInstruments 2024-04-05 SC423885 d:CurrentFinancialInstruments 2023-04-05 SC423885 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 SC423885 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 SC423885 d:ShareCapital 2024-04-05 SC423885 d:ShareCapital 2023-04-05 SC423885 d:RetainedEarningsAccumulatedLosses 2024-04-05 SC423885 d:RetainedEarningsAccumulatedLosses 2023-04-05 SC423885 c:OrdinaryShareClass1 2023-04-06 2024-04-05 SC423885 c:OrdinaryShareClass1 2024-04-05 SC423885 c:OrdinaryShareClass1 2023-04-05 SC423885 c:FRS102 2023-04-06 2024-04-05 SC423885 c:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 SC423885 c:FullAccounts 2023-04-06 2024-04-05 SC423885 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 SC423885 6 2023-04-06 2024-04-05 SC423885 e:PoundSterling 2023-04-06 2024-04-05 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC423885










SHETLAND ENERGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

 
SHETLAND ENERGY LIMITED
 

COMPANY INFORMATION


Directors
G B Anderson 
A M Anderson 
B G Anderson 
N A Anderson 




Company secretary
A M Anderson



Registered number
SC423885



Registered office
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
SHETLAND ENERGY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHETLAND ENERGY LIMITED
FOR THE YEAR ENDED 5 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shetland Energy Limited for the year ended 5 April 2024 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Shetland Energy Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of Shetland Energy Limited and state those matters that we have agreed to state to the Board of directors of Shetland Energy Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shetland Energy Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Shetland Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Shetland Energy Limited. You consider that Shetland Energy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Shetland Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
14 City Quay
Dundee
DD1 3JA
18 April 2024
Page 1

 
SHETLAND ENERGY LIMITED
REGISTERED NUMBER: SC423885

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2024

2024
2023
£
£

Fixed assets
  

Investments
 4 
15,050
15,050

  
15,050
15,050

Current assets
  

Cash at bank and in hand
  
24,318
25,159

  
24,318
25,159

Creditors: amounts falling due within one year
 5 
(720)
(720)

Net current assets
  
 
 
23,598
 
 
24,439

Total assets less current liabilities
  
38,648
39,489

  

Net assets
  
38,648
39,489


Capital and reserves
  

Called up share capital 
 6 
200
200

Profit and loss account
  
38,448
39,289

  
38,648
39,489


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2024.




G B Anderson
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
SHETLAND ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Shetland Energy Limited is a private company, limited by shares, incorporated in Scotland with registration number SC423885 . The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principle place of activity is Seafield House, Lerwick, Shetland, ZE1 0RN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 6 April 2023
15,050



At 5 April 2024
15,050




Page 3

 
SHETLAND ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
720
720

720
720



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



Page 4