Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mr J L Antoniou 14/01/2010 Mr B H Phillips 21/12/2022 Mr N J Smith 21/12/2022 Mr A J Swain 21/12/2022 11/12/2020 Mr C Todd 18/01/2024 20 August 2024 The principal activity of the Company during the financial year was that of renewable energy development and installations. It also provided management services and support to an associated company within the renewable energy sector. 07125502 2023-09-30 07125502 bus:Director1 2023-09-30 07125502 bus:Director2 2023-09-30 07125502 bus:Director3 2023-09-30 07125502 bus:Director4 2023-09-30 07125502 bus:Director5 2023-09-30 07125502 2022-09-30 07125502 core:CurrentFinancialInstruments 2023-09-30 07125502 core:CurrentFinancialInstruments 2022-09-30 07125502 core:Non-currentFinancialInstruments 2023-09-30 07125502 core:Non-currentFinancialInstruments 2022-09-30 07125502 core:ShareCapital 2023-09-30 07125502 core:ShareCapital 2022-09-30 07125502 core:RetainedEarningsAccumulatedLosses 2023-09-30 07125502 core:RetainedEarningsAccumulatedLosses 2022-09-30 07125502 core:PlantMachinery 2022-09-30 07125502 core:Vehicles 2022-09-30 07125502 core:OfficeEquipment 2022-09-30 07125502 core:PlantMachinery 2023-09-30 07125502 core:Vehicles 2023-09-30 07125502 core:OfficeEquipment 2023-09-30 07125502 core:CostValuation 2022-09-30 07125502 core:CostValuation 2023-09-30 07125502 bus:OrdinaryShareClass1 2023-09-30 07125502 2022-10-01 2023-09-30 07125502 bus:FilletedAccounts 2022-10-01 2023-09-30 07125502 bus:SmallEntities 2022-10-01 2023-09-30 07125502 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 07125502 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07125502 bus:Director1 2022-10-01 2023-09-30 07125502 bus:Director2 2022-10-01 2023-09-30 07125502 bus:Director3 2022-10-01 2023-09-30 07125502 bus:Director4 2022-10-01 2023-09-30 07125502 bus:Director5 2022-10-01 2023-09-30 07125502 core:PlantMachinery 2022-10-01 2023-09-30 07125502 core:Vehicles core:TopRangeValue 2022-10-01 2023-09-30 07125502 core:OfficeEquipment 2022-10-01 2023-09-30 07125502 2021-10-01 2022-09-30 07125502 core:Vehicles 2022-10-01 2023-09-30 07125502 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 07125502 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 07125502 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07125502 (England and Wales)

GB NRG LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

GB NRG LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

GB NRG LTD

COMPANY INFORMATION

For the financial year ended 30 September 2023
GB NRG LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS Mr J L Antoniou
Mr B H Phillips
Mr N J Smith
Mr C Todd
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 07125502 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
GB NRG LTD

BALANCE SHEET

As at 30 September 2023
GB NRG LTD

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 5 94,778 71,816
Investments 6 301 301
95,079 72,117
Current assets
Stocks 7 10,049 0
Debtors 8 1,337,275 1,157,602
Cash at bank and in hand 579,198 295,433
1,926,522 1,453,035
Creditors: amounts falling due within one year 9 ( 523,367) ( 342,561)
Net current assets 1,403,155 1,110,474
Total assets less current liabilities 1,498,234 1,182,591
Creditors: amounts falling due after more than one year 10 ( 50,175) ( 48,364)
Provision for liabilities ( 23,405) ( 17,601)
Net assets 1,424,654 1,116,626
Capital and reserves
Called-up share capital 11 10 10
Profit and loss account 1,424,644 1,116,616
Total shareholder's funds 1,424,654 1,116,626

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GB NRG Ltd (registered number: 07125502) were approved and authorised for issue by the Board of Directors on 20 August 2024. They were signed on its behalf by:

Mr B H Phillips
Director
GB NRG LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
GB NRG LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GB NRG Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of energy development, installation and management services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 3 years straight line
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Critical accounting judgements and key sources of estimation uncertainty

The principle accounting policies applied in the preparation of these financial statements are set out below. The director does not consider that significant estimates or judgements have been made during the preparation of the financial statements impacting the results and position reported.

3. Prior year adjustment

The directors have decided that costs that were previously classified as distribution expenses should be reclassified as cost of sales.

As previously reported Adjustment As restated
Year ended 30 September 2022 £ £ £
Cost of sales (222,222) (9,515) (231,737)
Distribution costs (9,515) 9,515 0

4. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 3

5. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 October 2022 10,247 71,476 0 81,723
Additions 298 49,220 4,370 53,888
At 30 September 2023 10,545 120,696 4,370 135,611
Accumulated depreciation
At 01 October 2022 7,922 1,985 0 9,907
Charge for the financial year 394 29,877 655 30,926
At 30 September 2023 8,316 31,862 655 40,833
Net book value
At 30 September 2023 2,229 88,834 3,715 94,778
At 30 September 2022 2,325 69,491 0 71,816

6. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 October 2022 301
At 30 September 2023 301
Carrying value at 30 September 2023 301
Carrying value at 30 September 2022 301

7. Stocks

2023 2022
£ £
Stocks 10,049 0

8. Debtors

2023 2022
£ £
Trade debtors 167,921 0
Amounts owed by Group undertakings 378 378
Amounts owed by directors 20,214 0
Prepayments 8,100 3,505
Other debtors 1,140,662 1,153,719
1,337,275 1,157,602

9. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 169,084 92,190
Corporation tax 120,466 38,320
Other taxation and social security 127,994 79,087
Obligations under finance leases and hire purchase contracts 41,687 22,126
Other creditors 64,136 110,838
523,367 342,561

10. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 50,175 48,364

There are no amounts included above in respect of which any security has been given by the small entity.

The hire purchase contracts on the assets concerned, which are included within vehicles. At the balance sheet date the assets concerned had a total net book value of £88,833 (2022 - £69,490)

11. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

12. Financial commitments

Other financial commitments

2023 2022
£ £
The total amount of financial commitments not included in the balance sheet 0 11,520

13. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Loan to director subject to interest at HMRC approved rate and repayable on demand 20,214 0

During the year, £20,214 was advanced to a director.

Other related party transactions

Included in other debtors is a loan of £1,071,403 (2022: £1,136,692) to another company in which the director and shareholder had a participating interest. The loan is interest free and repayable on demand.