Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalse2023-01-01Energy Development73truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13811874 2023-01-01 2023-12-31 13811874 2021-12-21 2022-12-31 13811874 2023-12-31 13811874 2022-12-31 13811874 c:Director2 2023-01-01 2023-12-31 13811874 d:MotorVehicles 2023-01-01 2023-12-31 13811874 d:MotorVehicles 2023-12-31 13811874 d:MotorVehicles 2022-12-31 13811874 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13811874 d:OfficeEquipment 2023-01-01 2023-12-31 13811874 d:OfficeEquipment 2023-12-31 13811874 d:OfficeEquipment 2022-12-31 13811874 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13811874 d:ComputerEquipment 2023-01-01 2023-12-31 13811874 d:ComputerEquipment 2023-12-31 13811874 d:ComputerEquipment 2022-12-31 13811874 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13811874 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13811874 d:CurrentFinancialInstruments 2023-12-31 13811874 d:CurrentFinancialInstruments 2022-12-31 13811874 d:Non-currentFinancialInstruments 2023-12-31 13811874 d:Non-currentFinancialInstruments 2022-12-31 13811874 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13811874 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13811874 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13811874 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13811874 d:ShareCapital 2023-12-31 13811874 d:ShareCapital 2022-12-31 13811874 d:RetainedEarningsAccumulatedLosses 2023-12-31 13811874 d:RetainedEarningsAccumulatedLosses 2022-12-31 13811874 c:FRS102 2023-01-01 2023-12-31 13811874 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13811874 c:FullAccounts 2023-01-01 2023-12-31 13811874 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13811874 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 13811874 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 13811874 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 13811874 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 13811874 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13811874









GREENFIELD ENERGY DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 13811874

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
167,004
3,400

  
167,004
3,400

Current assets
  

Debtors: amounts falling due within one year
 6 
975,600
381,080

Cash at bank and in hand
 7 
554,860
272,615

  
1,530,460
653,695

Creditors: amounts falling due within one year
 8 
(987,863)
(458,746)

Net current assets
  
 
 
542,597
 
 
194,949

Total assets less current liabilities
  
709,601
198,349

Creditors: amounts falling due after more than one year
  
(116,487)
-

Provisions for liabilities
  

Deferred tax
  
(25,823)
(850)

  
 
 
(25,823)
 
 
(850)

Net assets
  
567,291
197,499


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
567,288
197,496

  
567,291
197,499


Page 1

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 13811874
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Ring
Director

Date: 13 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Greenfield Energy Developments Limited is a company incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

Page 3

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Motor vehicles
-
7 year straight-line
Office equipment
-
3 year straight-line
Computer equipment
-
5 year straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 3).


5.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
-
440
3,219
3,659


Additions
140,281
1,049
34,873
176,203


Disposals
-
(316)
-
(316)



At 31 December 2023

140,281
1,173
38,092
179,546



Depreciation


At 1 January 2023
-
58
201
259


Charge for the year on owned assets
8,294
240
3,849
12,383


Disposals
-
(100)
-
(100)



At 31 December 2023

8,294
198
4,050
12,542



Net book value



At 31 December 2023
131,987
975
34,042
167,004



At 31 December 2022
-
382
3,018
3,400

Page 7

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
246,227

Amounts owed by group undertakings
823,907
-

Other debtors
135,389
122,644

Prepayments and accrued income
16,304
12,209

975,600
381,080



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
554,860
272,615

554,860
272,615



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
206,641
145,240

Amounts owed to group undertakings
196,252
190,000

Corporation tax
99,260
46,966

Other taxation and social security
112,573
14,240

Obligations under finance lease and hire purchase contracts
13,382
-

Other creditors
356,655
60,000

Accruals and deferred income
3,100
2,300

987,863
458,746



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
116,487
-

116,487
-


Page 8

 
GREENFIELD ENERGY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
13,382
-

Between 1-5 years
116,487
-

129,869
-


11.


Related party transactions

At the year-end date, there were loans totalling £684,639 (2022: £68,744) owed to the Company by several SPV's under common ownership to Greenfield Energy Developments Limited.
At the year-end date, there were loans totalling £196,252 (2022: £190,000) owed to Enivdev Consulting S.R.L, a shareholder of Greenfield Energy Developments Limited and an amount of £356,655 (2022: £60,000) owed to other associated companies.
During the year, £nil for services (2022: £30,000) was paid to Helix Holdco Ltd, a company under common ownership to Greenfield Energy Developments Limited.
Included within other debtors are balances owed by group companies totalling £139,268 (2022 : £nil) and an amount of £61,107 (2022: £68,744) owed by other associated companies. No interest is charged on these amounts and they are repayable upon demand.
Included within other debtors is a total amount of £nil (2022: £8,981) owed by the directors of the company. No interest is charged on these loans and they are repayable upon demand.

 
Page 9