Company Registration No. SC551093 (Scotland)
Energy Certificates Scotland Limited
Unaudited accounts
for the year ended 30 November 2023
Energy Certificates Scotland Limited
Unaudited accounts
Contents
Energy Certificates Scotland Limited
Company Information
for the year ended 30 November 2023
Company Number
SC551093 (Scotland)
Registered Office
2Gether House
25 Daisy Street
Glasgow
G42 8JN
Scotland
Accountants
Prime Fiscal LLP
25 Daisy Street
Glasgow
G42 8JN
Energy Certificates Scotland Limited
Statement of financial position
as at 30 November 2023
Tangible assets
49,374
2,691
Cash at bank and in hand
64,742
66,377
Creditors: amounts falling due within one year
(38,557)
(15,203)
Net current assets
26,185
51,174
Total assets less current liabilities
75,559
53,865
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
66,177
53,353
Shareholders' funds
66,178
53,354
For the year ending 30 November 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2024 and were signed on its behalf by
Neil Howie
Director
Company Registration No. SC551093
Energy Certificates Scotland Limited
Notes to the Accounts
for the year ended 30 November 2023
Energy Certificates Scotland Limited is a private company, limited by shares, registered in Scotland, registration number SC551093. The registered office is 2Gether House, 25 Daisy Street, Glasgow, G42 8JN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
The director reviews the cash requirements of the business on a regular basis to ensure that there are sufficient
resources to meet commitments as they fall due. In addition the director introduces funds from personal sources
from time to time to support business expenditure. On this basis the director has concluded that the company has
sufficient resources to meet its commitments over the next year and accordingly has prepared the accounts on a
going concern basis.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Energy Certificates Scotland Limited
Notes to the Accounts
for the year ended 30 November 2023
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.
The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:
Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.
Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at
accounted for over the borrowing period by using the effective interest
immaterial and the credit period is short, amortised cost is equal to the nominal value.
Impairment of financial instruments
A provision for impairment is established when there is objective
that occurred after the initial recognition, the estimated future cash flows have been impacted.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.
Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Energy Certificates Scotland Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
1,936
-
3,181
5,117
Additions
449
44,917
1,891
47,257
At 30 November 2023
2,385
44,917
5,072
52,374
At 1 December 2022
781
-
1,645
2,426
Charge for the year
190
-
384
574
At 30 November 2023
971
-
2,029
3,000
At 30 November 2023
1,414
44,917
3,043
49,374
At 30 November 2022
1,155
-
1,536
2,691
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
23,917
-
Taxes and social security
-
10,543
Loans from directors
79
567
6
Deferred taxation
2023
2022
Accelerated capital allowances
9,381
511
Provision at start of year
511
2,239
Charged/(credited) to the profit and loss account
8,870
(1,728)
Provision at end of year
9,381
511
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).