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Registered number: 06294884
East Green Energy Limited
Financial Statements
For The Year Ended 31 March 2024
CRASL
Carlton House
Carlton Park Industrial Estate
Saxmundham
Suffolk
IP17 2NL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06294884
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 176,277 137,180
176,277 137,180
CURRENT ASSETS
Stocks 5 74,918 256,418
Debtors 6 383,578 598,791
Cash at bank and in hand 1,235,345 473,324
1,693,841 1,328,533
Creditors: Amounts Falling Due Within One Year 7 (577,736 ) (625,068 )
NET CURRENT ASSETS (LIABILITIES) 1,116,105 703,465
TOTAL ASSETS LESS CURRENT LIABILITIES 1,292,382 840,645
Creditors: Amounts Falling Due After More Than One Year 8 (81,707 ) (108,977 )
NET ASSETS 1,210,675 731,668
CAPITAL AND RESERVES
Called up share capital 9 80 80
Share premium account 99,989 99,989
Revaluation reserve 10 (34,159 ) (34,159 )
Profit and Loss Account 1,144,765 665,758
SHAREHOLDERS' FUNDS 1,210,675 731,668
Page 1
Page 2
For the year 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
Robert Maurice Gawthrop
Director
10/07/2024
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
East Green Energy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06294884 . The registered office is Unit 2C Riverside Business Centre, Dock Lane, Melton, Woodbridge, Suffolk, IP12 1RA.
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. 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:
Freehold 0% Reducing Balance
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 31,587 37,314 174,920 4,133 247,954
Additions 2,459 6,252 64,804 1,140 74,655
As at 31 March 2024 34,046 43,566 239,724 5,273 322,609
Depreciation
As at 1 April 2023 - 30,168 78,472 2,134 110,774
Provided during the period - 2,680 32,251 627 35,558
As at 31 March 2024 - 32,848 110,723 2,761 146,332
Net Book Value
As at 31 March 2024 34,046 10,718 129,001 2,512 176,277
As at 1 April 2023 31,587 7,146 96,448 1,999 137,180
5. Stocks
2024 2023
£ £
Stock 74,918 256,418
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 359,238 529,936
Prepayments and accrued income - 700
Other debtors - 32,474
VAT - 15,449
359,238 578,559
Due after more than one year
Employee Loans 556 5,273
Business Loans 9,598 9,196
Directors loan account 14,186 5,763
24,340 20,232
383,578 598,791
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 363,517 521,720
Warranty Claim Provision - 17,500
Corporation tax 176,378 60,778
Other taxes and social security 22,288 21,017
VAT 8,016 -
Other creditors 333 -
Pension Payable 2,049 2,217
Accruals and deferred income 2,074 1,440
Credit Card 3,081 396
577,736 625,068
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,167 34,167
HP & Finance Contracts 57,540 74,810
81,707 108,977
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 (34,159 )
As at 31 March 2024 (34,159 )
Page 5