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Registration number: 08781734

Agile Energy Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Agile Energy Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Agile Energy Ltd

(Registration number: 08781734)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,296

1,112

Current assets

 

Debtors

425,912

185,339

Cash at bank and in hand

 

13,424

158,744

 

439,336

344,083

Creditors: Amounts falling due within one year

(139,758)

(54,230)

Net current assets

 

299,578

289,853

Total assets less current liabilities

 

304,874

290,965

Provisions for liabilities

(1,324)

-

Net assets

 

303,550

290,965

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

303,450

290,865

Total equity

 

303,550

290,965

 

Agile Energy Ltd

(Registration number: 08781734)
Abridged Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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 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.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 




T Haydon

Director




SC Haydon

Director

 

Agile Energy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 2 August 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Agile Energy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Fixtures and fittings

25% Straight Line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 January 2023

11,594

Additions

6,407

Disposals

(5,388)

At 31 December 2023

12,613

Depreciation

At 1 January 2023

10,482

Charge for the year

2,224

Eliminated on disposal

(5,389)

At 31 December 2023

7,317

Carrying amount

At 31 December 2023

5,296

At 31 December 2022

1,112

5

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £642 (2022 - £8,347).

 

Agile Energy Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Related party transactions

Advances to directors

T Haydon

During the period T Haydon went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £182,199 (2022 - £129,602). At the year end the amount outstanding from T Haydon was £163,895 (2022 - £79,159). Interest has been charged at the commercial rate.

SC Haydon

During the period SC Haydon went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £182,199 (2022 - £86,401). At the year end the amount outstanding from SC Haydon was £163,895 (2022 - £52,773). Interest has been charged at the commercial rate.