1 November 2022 false Taxfiler 2024.4 SC645015business:PrivateLimitedCompanyLtd2022-11-012023-10-31 SC6450152022-10-31 SC6450152022-11-012023-10-31 SC645015business:AuditExemptWithAccountantsReport2022-11-012023-10-31 SC645015business:FilletedAccounts2022-11-012023-10-31 SC6450152023-10-31 SC645015business:Director12022-11-012023-10-31 SC645015business:RegisteredOffice2022-11-012023-10-31 SC6450152022-10-31 SC645015core:WithinOneYear2023-10-31 SC645015core:WithinOneYear2022-10-31 SC645015core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC645015core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 SC645015core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC645015core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 SC645015core:PreviouslyStatedAmount2023-10-31 SC645015core:PreviouslyStatedAmount2022-10-31 SC645015business:SmallEntities2022-11-012023-10-31 SC645015countries:Scotland2022-11-012023-10-31 SC645015core:FurnitureFittings2022-10-31 SC645015core:FurnitureFittings2023-10-31 SC645015core:FurnitureFittings2022-11-012023-10-31 SC645015core:WithinOneYear2022-11-012023-10-31 SC6450152021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC645015 (Scotland)
Net Zero Energy Systems Ltd Unaudited accounts for the year ended 31 October 2023
Net Zero Energy Systems Ltd Unaudited accounts Contents
Page
- 2 -
Net Zero Energy Systems Ltd Company Information for the year ended 31 October 2023
Director
Grant Spence
Company Number
SC645015 (Scotland)
Registered Office
4 Pittenweem Path Blantyre Glasgow Lanarkshire G72 0GZ Scotland
Accountants
Peter Hall Finance & Accounting Solutions of Tillicoultry Clackmannanshire FK13 6DR
- 3 -
Net Zero Energy Systems Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
352 
458 
Current assets
Cash at bank and in hand
42,155 
32,207 
Creditors: amounts falling due within one year
(35,884)
(24,080)
Net current assets
6,271 
8,127 
Total assets less current liabilities
6,623 
8,585 
Provisions for liabilities
Deferred tax
(87)
(87)
Net assets
6,536 
8,498 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
6,535 
8,497 
Shareholders' funds
6,536 
8,498 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 July 2024 and were signed on its behalf by
Grant Spence Director Company Registration No. SC645015
- 4 -
Net Zero Energy Systems Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Net Zero Energy Systems Ltd is a private company, limited by shares, registered in Scotland, registration number SC645015. The registered office is 4 Pittenweem Path, Blantyre, Glasgow, Lanarkshire, G72 0GZ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. Fixtures and fittings - 20% on cost
Financial instruments
(i) Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment. (ii) Cash and cash equivalents Cash and cash equivalents include cash at bank and in hand. Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position. (iii) Creditors Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
- 5 -
Net Zero Energy Systems Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2022
528 
At 31 October 2023
528 
Depreciation
At 1 November 2022
70 
Charge for the year
106 
At 31 October 2023
176 
Net book value
At 31 October 2023
352 
At 31 October 2022
458 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
35,884 
24,080 
Director's Current Account
6
Transactions with related parties
The director made an interest free loan to the company during the year of £35,885 (£24,080 in the prior year). There is no required repayment date for this loan.
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -