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Registration number: 06496664

Business Energy Direct (Uk) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Business Energy Direct (Uk) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Business Energy Direct (Uk) Limited

Company Information

Directors

Mrs Shelley Jane Askew

Mr Paul Anthony Askew

Mr Simon John Askew

Company secretary

Mrs Shelley Jane Askew

Registered office

Unit 6
Enterprise Court Farfield Park
Manvers
Rotherham
South Yorkshire
S63 5DB

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Business Energy Direct (Uk) Limited

(Registration number: 06496664)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,628

3,554

Current assets

 

Debtors

5

33,762

112,297

Cash at bank and in hand

 

630,799

357,009

 

664,561

469,306

Creditors: Amounts falling due within one year

6

(134,233)

(127,039)

Net current assets

 

530,328

342,267

Net assets

 

535,956

345,821

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

535,952

345,817

Shareholders' funds

 

535,956

345,821

For the financial year ending 31 January 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

 

Business Energy Direct (Uk) Limited

(Registration number: 06496664)
Balance Sheet as at 31 January 2024

.........................................
Mr Simon John Askew
Director

 

Business Energy Direct (Uk) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Unit 6
Enterprise Court Farfield Park
Manvers
Rotherham
South Yorkshire
S63 5DB

These financial statements were authorised for issue by the Board on 9 August 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.

 

Business Energy Direct (Uk) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:

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.

Trade 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.

Trade 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.

 

Business Energy Direct (Uk) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 8).

 

Business Energy Direct (Uk) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2023

12,418

12,418

Additions

3,588

3,588

At 31 January 2024

16,006

16,006

Depreciation

At 1 February 2023

8,864

8,864

Charge for the year

1,514

1,514

At 31 January 2024

10,378

10,378

Carrying amount

At 31 January 2024

5,628

5,628

At 31 January 2023

3,554

3,554

5

Debtors

2024
£

2023
£

Trade debtors

33,278

112,297

Prepayments

484

-

33,762

112,297

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

86,033

46,584

Accruals and deferred income

31,300

64,718

Other creditors

16,900

15,737

134,233

127,039

 

Business Energy Direct (Uk) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3

3

3

3

Ordinary A of £1 each

1

1

1

1

4

4

4

4

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £35,500.00 (2023 - £77,500.00) per each Ordinary

106,500

232,500

Interim dividend of £35,500.00 (2023 - £77,500.00) per each Ordinary A

35,500

77,500

142,000

310,000

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

59,611

7,478

Contributions paid to money purchase schemes

1,200

-

60,811

7,478