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Company registration number: 06879291







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PULSE BUSINESS ENERGY LIMITED






































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PULSE BUSINESS ENERGY LIMITED
 


 
COMPANY INFORMATION


Directors
R E Burke 
C J Russell 
H E Long (appointed 11 April 2024)




Registered number
06879291



Registered office
1st Floor, The Wharf
Abbey Mill Business Park

Godalming

Surrey

GU7 2QN




Trading Address
39 Bear Lane

London

SE1 0UH






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


PULSE BUSINESS ENERGY LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5

 


PULSE BUSINESS ENERGY LIMITED
REGISTERED NUMBER:06879291



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
72,858
29,236

  
72,858
29,236

Current assets
  

Debtors: amounts falling due within one year
 5 
5,693,594
4,705,447

Bank and cash balances
  
40,139
59,475

  
5,733,733
4,764,922

Creditors: amounts falling due within one year
 6 
(114,657)
(97,725)

Net current assets
  
 
 
5,619,076
 
 
4,667,197

Total assets less current liabilities
  
5,691,934
4,696,433

Provisions for liabilities
  

Deferred tax
  
(12,738)
-

  
 
 
(12,738)
 
 
-

Net assets
  
5,679,196
4,696,433


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
5,679,096
4,696,333

  
5,679,196
4,696,433


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 by: 



H E Long
Director
Date: 26 July 2024

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 


PULSE BUSINESS ENERGY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pulse Business Energy Limited is a private company limited by shares, incorporated in the England and Wales under Companies Act 2006. The registered office and principal trading address is given on the Company Information page. The functional and presentational currency is GBP.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from commissions are recognised over the period to which they relate, with commissions earned but not invoiced included within accrued income.

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over three years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.  Other intangibles are amortised over three years.

.

 
2.4

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.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

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.

Page 2

 


PULSE BUSINESS ENERGY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 18).

Page 3

 


PULSE BUSINESS ENERGY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2023
-
297,524
297,524


Additions - internal
58,651
-
58,651



At 31 December 2023

58,651
297,524
356,175



Amortisation


At 1 January 2023
-
268,288
268,288


Charge for the year on owned assets
1,629
13,400
15,029



At 31 December 2023

1,629
281,688
283,317



Net book value



At 31 December 2023
57,022
15,836
72,858



At 31 December 2022
-
29,236
29,236




5.


Debtors

2023
2022
£
£


Trade debtors
252,894
229,848

Amounts owed by group undertakings
5,035,316
3,920,293

Other debtors
-
11,429

Prepayments and accrued income
405,384
542,026

Deferred taxation
-
1,851

5,693,594
4,705,447


Page 4

 


PULSE BUSINESS ENERGY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,397
1,286

Other taxation and social security
54,825
37,669

Other creditors
-
24,732

Accruals and deferred income
54,435
34,038

114,657
97,725



7.Financial commitments

Loans included within entities of the group that the Company is a part are secured by fixed and floating charges over the assets of the Company and the group.  At the year end the loans amounted to £196,799,237 (2022: £185,225,036).


8.


Controlling party

The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is Arrow Communications Holdings Limited.  The company’s registered address is The Wharf, Abbey Mills Business Park, Lower Eashing, Godalming, Surrey, GU7 2QN.  

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 July 2024 by Robin Hopkins FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5