Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10029052 Damon Rand Mark Cordle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10029052 2023-03-31 10029052 2024-03-31 10029052 2023-04-01 2024-03-31 10029052 frs-core:CurrentFinancialInstruments 2024-03-31 10029052 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10029052 frs-bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 10029052 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10029052 frs-bus:SmallEntities 2023-04-01 2024-03-31 10029052 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10029052 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10029052 frs-bus:Director1 2023-04-01 2024-03-31 10029052 frs-bus:Director2 2023-04-01 2024-03-31 10029052 frs-core:CurrentFinancialInstruments 1 2024-03-31 10029052 frs-countries:EnglandWales 2023-04-01 2024-03-31 10029052 2022-03-31 10029052 2023-03-31 10029052 2022-04-01 2023-03-31 10029052 frs-core:CurrentFinancialInstruments 2023-03-31 10029052 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10029052 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 10029052
Owen Square Community Energy Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10029052
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 965 207
Cash at bank and in hand 8,125 4,690
9,090 4,897
Creditors: Amounts Falling Due Within One Year 5 (52,209 ) (38,825 )
NET CURRENT ASSETS (LIABILITIES) (43,119 ) (33,928 )
TOTAL ASSETS LESS CURRENT LIABILITIES (43,119 ) (33,928 )
NET LIABILITIES (43,119 ) (33,928 )
Income and Expenditure Account (43,119 ) (33,928 )
MEMBERS' FUNDS (43,119) (33,928)
Page 1
Page 2
For the year ending 31 March 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Damon Rand
Director
20/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Owen Square Community Energy Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 10029052 . The registered office is Unit 21a Easton Business Centre, Felix Road, Bristol, BS5 0HE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company is a public benefit entity as defined by FRS102.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover consists of revenue earned from the sale of electricity.
2.3. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 846 -
Prepayments and accrued income 119 207
965 207
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,683 15,025
BCEF Loan 13,000 13,000
CEPRO loan 17,500 10,000
Accruals and deferred income 1,026 800
52,209 38,825
The directors expect the BCEF loan to convert into a grant in financial year ending March 31st 2025. If this does not occur then the loan will become repayable in the financial year ending March 31st 2025.
During the year, Clean Energy Prospector Ltd (a related party), made a further loan to the company of £7,500. The total loan  amount  at the year end was £17,500.  No interest is charged on the loan, there is no fixed repayment date and no security.
The loans are concessionary loans to a public benefit entity as defined by FRS102.
6. Related Party Transactions
Clean Energy Prospector Ltd of which Damon Rand is a director, provided metering and billing services to the company at a cost of £920 (2023: £984).
During the year, Clean Energy Prospector Ltd made a further  loan to the company of £7,500. The total loan amount at the year end amount was £17,500 (2023: £10,000). No interest is charged on the loan, there is no fixed repayment date and no security.
During the year, Clean Energy Prospector Ltd made donations to the company of £2,880 (2023: £2,880).
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 4