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Registered number: 12262027
Everyone's Energy UK Limited
Unaudited Financial Statements
For the Period 1 November 2023 to 31 March 2024
Tangerine Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12262027
31 March 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 42,171 8,365
Tangible Assets 5 92,785 85,997
134,956 94,362
CURRENT ASSETS
Debtors 6 280,467 166,857
Cash at bank and in hand 220,048 151,503
500,515 318,360
Creditors: Amounts Falling Due Within One Year 7 (355,005 ) (238,325 )
NET CURRENT ASSETS (LIABILITIES) 145,510 80,035
TOTAL ASSETS LESS CURRENT LIABILITIES 280,466 174,397
Creditors: Amounts Falling Due After More Than One Year 8 (17,954 ) (23,314 )
NET ASSETS 262,512 151,083
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 262,502 151,073
SHAREHOLDERS' FUNDS 262,512 151,083
Page 1
Page 2
For the period 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 Profit and Loss Account.
On behalf of the board
Mr Jordan BROWN
Director
Mr Fintan Oliver RAWLINGS
Director
12/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Everyone's Energy UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12262027 . The registered office is Office 1, Floor 2, Stag House, Old London Road, Hertford, SG13 7LA.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25
Motor Vehicles 25
Fixtures & Fittings 25
Computer Equipment 25
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 8,580
Additions 34,919
As at 31 March 2024 43,499
Amortisation
As at 1 November 2023 215
Provided during the period 1,113
As at 31 March 2024 1,328
Net Book Value
As at 31 March 2024 42,171
As at 1 November 2023 8,365
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 2,242 113,602 11,727 5,172 132,743
Additions - 12,000 436 4,710 17,146
As at 31 March 2024 2,242 125,602 12,163 9,882 149,889
Depreciation
As at 1 November 2023 897 43,351 2,140 358 46,746
Provided during the period 140 8,568 999 651 10,358
As at 31 March 2024 1,037 51,919 3,139 1,009 57,104
Net Book Value
As at 31 March 2024 1,205 73,683 9,024 8,873 92,785
As at 1 November 2023 1,345 70,251 9,587 4,814 85,997
6. Debtors
31 March 2024 31 October 2023
£ £
Due within one year
Trade debtors 175,264 38,351
Prepayments and accrued income 29,028 15,978
Other debtors 5,000 -
VAT 69,338 26,663
Directors' loan accounts - 85,865
278,630 166,857
...CONTINUED
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Due after more than one year
Amounts owed by other participating interests 1,837 -
280,467 166,857
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 October 2023
£ £
Trade creditors 182,030 143,234
Bank loans and overdrafts 36,966 -
Corporation tax 82,751 70,088
Other taxes and social security 13,664 16,303
Other creditors 403 -
Accruals and deferred income 5,872 8,700
Directors' loan accounts 33,319 -
355,005 238,325
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 October 2023
£ £
Bank loans 17,954 23,314
9. Share Capital
31 March 2024 31 October 2023
£ £
Allotted, Called up and fully paid 10 10
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