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REGISTERED NUMBER: 07908212 (England and Wales)











DALLOL ENERGY LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


DALLOL ENERGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: V J Buchanan
A Springett





REGISTERED OFFICE: Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW





REGISTERED NUMBER: 07908212 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW

DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

V J Buchanan
A Springett

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





V J Buchanan - Director


14 August 2024

DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 285,260 326,983

CURRENT ASSETS
Debtors 1,294,056 1,523,294
Cash at bank 52,968 43,790
1,347,024 1,567,084
CREDITORS
Amounts falling due within one year 817,717 1,119,551
NET CURRENT ASSETS 529,307 447,533
TOTAL ASSETS LESS CURRENT LIABILITIES 814,567 774,516

CREDITORS
Amounts falling due after more than one
year

(358,575

)

(541,954

)

PROVISIONS FOR LIABILITIES (68,572 ) (61,355 )
NET ASSETS 387,420 171,207

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 387,320 171,107
SHAREHOLDERS' FUNDS 387,420 171,207

DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





V J Buchanan - Director


DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

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


1. STATUTORY INFORMATION

Dallol Energy Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover represents amounts receivable for goods and services supplied in the course of the supply of Biomass heat and power systems, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.3% straight line, 25% on reducing balance and 20% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contracts
Revenue from providing services and from construction contracts is recognised based on the portion of the contract completed. Expenditure is recognised on the corresponding portion of the contract provided by third parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 381,309
Additions 2,493
At 31 December 2023 383,802
DEPRECIATION
At 1 January 2023 54,326
Charge for year 44,216
At 31 December 2023 98,542
NET BOOK VALUE
At 31 December 2023 285,260
At 31 December 2022 326,983

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 343,421 485,526
HP contracts 213,146 264,496
556,567 750,022

There is a fixed and floating charge over the assets and undertaking of the business in favour of Lloyds Bank plc. Hire purchase contracts are secured against the fixed asset to which they relate.

DALLOL ENERGY LIMITED (REGISTERED NUMBER: 07908212)

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


6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
V J Buchanan
Balance outstanding at start of year 66,157 66,456
Amounts advanced 111,573 92,677
Amounts repaid (132,292 ) (92,976 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,438 66,157

A Springett
Balance outstanding at start of year 38,902 40,654
Amounts advanced 100,000 89,729
Amounts repaid (123,684 ) (91,481 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,218 38,902

The above balances are interest free and repayable on demand.

7. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 to not provide particulars of transactions between group companies where wholly owned by a common parent company.