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Registration number: 09284513

JAG EcoEnergy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

JAG EcoEnergy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

JAG EcoEnergy Ltd

Company Information

Directors

Mr A W Griffiths

Mr D G Griffiths

Mrs J A Griffiths

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

JAG EcoEnergy Ltd

(Registration number: 09284513)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

287,962

314,141

Current assets

 

Debtors

6

44,874

29,979

Cash at bank and in hand

 

26,893

21,356

 

71,767

51,335

Creditors: Amounts falling due within one year

7

(132,254)

(98,003)

Net current liabilities

 

(60,487)

(46,668)

Total assets less current liabilities

 

227,475

267,473

Creditors: Amounts falling due after more than one year

7

(139,960)

(185,362)

Net assets

 

87,515

82,111

Capital and reserves

 

Called up share capital

300

300

Profit and loss account

87,215

81,811

Total equity

 

87,515

82,111

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 and the option not to file the Profit and Loss Account has been taken.

 

JAG EcoEnergy Ltd

(Registration number: 09284513)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr A W Griffiths
Director

   
     
 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Blaenlliedi Farm
Sylen Road
Pontyberem
Llanelli
SA15 5NN

These financial statements were authorised for issue by the Board on 31 July 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.

 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Wind Turbines

20 years straight line

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.

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.

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.

 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 year, was 3 (2022 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

26,179

26,178

 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Properties under construction
 £

Total
£

Cost or valuation

At 1 November 2022

523,568

523,568

At 31 October 2023

523,568

523,568

Depreciation

At 1 November 2022

209,427

209,427

Charge for the year

26,179

26,179

At 31 October 2023

235,606

235,606

Carrying amount

At 31 October 2023

287,962

287,962

At 31 October 2022

314,141

314,141

6

Debtors

2023
£

2022
£

Other debtors

44,874

29,979

44,874

29,979

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

53,262

59,685

Taxation and social security

 

263

2,845

Other related parties

 

54,576

32,337

Corporation tax liability

 

23,161

1,325

Other creditors

 

992

1,811

 

132,254

98,003

 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

139,960

185,362

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Share of £1 each

100

100

100

100

Ordinary B Share of £1 each

100

100

100

100

Ordinary C Share of £1 each

100

100

100

100

 

300

300

300

300

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

139,960

185,362

2023
£

2022
£

Current loans and borrowings

Bank borrowings

53,262

59,685

 

JAG EcoEnergy Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

10

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr A W Griffiths

Interest free loan with no fixed repayment terms

(20,212)

7,906

(30,458)

(42,764)

         
       

Mr D G Griffiths

Interest free loan with no fixed repayment terms

(6,062)

20,156

(20,000)

(5,906)

         
       

Mrs J A Griffiths

Interest free loan with no fixed repayment terms

(6,062)

20,156

(20,000)

(5,906)

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mr A W Griffiths

Interest free loan with no fixed repayment terms

(2,532)

13,136

(30,816)

(20,212)

         
       

Mr D G Griffiths

Interest free loan with no fixed repayment terms

(2,532)

13,136

(16,666)

(6,062)

         
       

Mrs J A Griffiths

Interest free loan with no fixed repayment terms

(2,532)

13,136

(16,666)

(6,062)