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COMPANY REGISTRATION NUMBER: 10676562
High Energy Fuels Limited
Filleted Unaudited Financial Statements
31 December 2022
High Energy Fuels Limited
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
£
Current assets
Debtors
5
100
100
Cash at bank and in hand
530
530
----
----
630
630
Creditors: amounts falling due within one year
6
134,582
132,181
---------
---------
Net current liabilities
133,952
131,551
---------
---------
Total assets less current liabilities
( 133,952)
( 131,551)
Creditors: amounts falling due after more than one year
7
50,000
50,000
---------
---------
Net liabilities
( 183,952)
( 181,551)
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 184,052)
( 181,651)
---------
---------
Shareholders deficit
( 183,952)
( 181,551)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2022 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
High Energy Fuels Limited
Statement of Financial Position (continued)
31 December 2022
These financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
D Donegan
Director
Company registration number: 10676562
High Energy Fuels Limited
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Priory Church Road, Hatfield Peverel, Chelmsford, CM3 2LE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The statutory accounts have been prepared on the going concern basis. The Directors have carefully reviewed the future prospects of the company and its future cash flows. Having assessed this the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from signing of these statutory accounts. For this reason the Directors continue to adopt the going concern basis for the preparation of the statutory accounts. Accordingly, these statutory accounts do not include any adjustments to the carrying amount of classification of assets and liabilities that would result if the company was unable to continue as a going concern.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
4. Average number of employees
The average number of employees during the year was 2, which consisted of directors only.
5. Debtors
2022
2021
£
£
Other debtors
100
100
----
----
6. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
44,473
44,472
Amounts owed to related undertakings
84,456
84,456
Accruals and deferred income
4,380
1,980
Director loan accounts
1,273
1,273
---------
---------
134,582
132,181
---------
---------
7. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
50,000
50,000
--------
--------
8. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Related party transactions
At the year end the company owed a director £1,273 by way of a directors loan. At the year end the company owed a related company £84,456, which is shown in creditors. The directors of the company are also directors in the related company.
10. Controlling party
The company's ultimate controlling party is D Donegan .