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COMPANY REGISTRATION NUMBER: 13444108
Boultbee Brooks Energy Storage Limited
Unaudited Financial Statements
31 December 2023
Boultbee Brooks Energy Storage Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Directors' report
1
Statement of comprehensive income
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6
Boultbee Brooks Energy Storage Limited
Directors' Report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Principal activities
The principal activity of the company during the period was that of a holding company for a group enagaged in development of battery storages sites with a view to storing and selling electricity.
Directors
The directors who served the company during the year were as follows:
H. Brown
L. Roberts
N. Barber
R. James
C.E. Boultbee Brooks
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 August 2024 and signed on behalf of the board by:
L. Roberts
Director
Registered office:
Formal House
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks Energy Storage Limited
Statement of Comprehensive Income
Year ended 31 December 2023
2023
2022
Note
£
£
Cost of sales
18,296
49,741
--------
--------
Gross loss
( 18,296)
( 49,741)
Administrative expenses
121,097
116,331
---------
---------
Operating loss
( 139,393)
( 166,072)
Interest payable and similar expenses
21,272
8,268
---------
---------
Loss before taxation
( 160,665)
( 174,340)
Tax on loss
---------
---------
Loss for the financial year and total comprehensive income
( 160,665)
( 174,340)
---------
---------
All the activities of the company are from continuing operations.
Boultbee Brooks Energy Storage Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
6
Current assets
Stocks
68,643
Debtors
5
498,952
8,142
Cash at bank and in hand
2,977
1,018
---------
--------
501,929
77,803
Creditors: amounts falling due within one year
6
916,735
331,938
---------
---------
Net current liabilities
414,806
254,135
---------
---------
Total assets less current liabilities
( 414,800)
( 254,135)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 414,801)
( 254,136)
---------
---------
Shareholders deficit
( 414,800)
( 254,135)
---------
---------
These financial statements have been prepared 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'.
For the year ending 31 December 2023 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 .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
L. Roberts
Director
Company registration number: 13444108
Boultbee Brooks Energy Storage Limited
Statement of Changes in Equity
Year ended 31 December 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 1 January 2022
1
( 79,796)
( 79,795)
Loss for the year
( 174,340)
( 174,340)
----
---------
---------
Total comprehensive income for the year
( 174,340)
( 174,340)
At 31 December 2022
1
( 254,136)
( 254,135)
Loss for the year
( 160,665)
( 160,665)
----
---------
---------
Total comprehensive income for the year
( 160,665)
( 160,665)
----
---------
---------
At 31 December 2023
1
( 414,801)
( 414,800)
----
---------
---------
Boultbee Brooks Energy Storage Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Formal House, 60 St Georges Place, Cheltenham, GL50 3PN.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company had net liabilities of £414,800. It has secured the continuing support of its creditors and will remain a going concern for the foreseeable future.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. At the beginning of the period opening stock that constituted preliminary site costs and grid applications were transferred to prepayments pending transfer of costs to subsidiaries when certain project milestones are achieved.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost .
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2023
Additions
6
----
At 31 December 2023
6
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
6
----
At 31 December 2022
----
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
16,960
Other debtors
481,992
8,142
---------
-------
498,952
8,142
---------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
72,740
42,221
Amounts owed to group undertakings and undertakings in which the company has a participating interest
843,995
281,520
Other creditors
8,197
---------
---------
916,735
331,938
---------
---------
7. Controlling party
The intermediate parent company was Boultbee Developments Limited and the ultimate parent was Boultbee Development Holdings Limited. Their registered office is; Formal House, 60 St Georges Place, Cheltenham, GL50 3PN .