6 false false false false false false false false false true false true false false false false 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 18,619 30,558 49,177 6,121 8,611 14,732 34,445 12,498 xbrli:pure xbrli:shares iso4217:GBP NI670841 2022-12-01 2023-11-30 NI670841 2023-11-30 NI670841 2022-11-30 NI670841 2021-12-01 2022-11-30 NI670841 2022-11-30 NI670841 core:PlantMachinery 2022-12-01 2023-11-30 NI670841 bus:Director1 2022-12-01 2023-11-30 NI670841 core:PlantMachinery 2022-11-30 NI670841 core:PlantMachinery 2023-11-30 NI670841 core:WithinOneYear 2023-11-30 NI670841 core:WithinOneYear 2022-11-30 NI670841 core:AfterOneYear 2023-11-30 NI670841 core:AfterOneYear 2022-11-30 NI670841 core:ShareCapital 2023-11-30 NI670841 core:ShareCapital 2022-11-30 NI670841 core:RetainedEarningsAccumulatedLosses 2023-11-30 NI670841 core:RetainedEarningsAccumulatedLosses 2022-11-30 NI670841 core:PlantMachinery 2022-11-30 NI670841 bus:SmallEntities 2022-12-01 2023-11-30 NI670841 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 NI670841 bus:FullAccounts 2022-12-01 2023-11-30 NI670841 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI670841 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: NI670841
Better Utilities NI Ltd
Filleted Unaudited Financial Statements
30 November 2023
Better Utilities NI Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
34,445
12,498
Current assets
Stocks
12,500
10,000
Debtors
6
41,837
7,687
Cash at bank and in hand
27,934
4,892
--------
--------
82,271
22,579
Creditors: amounts falling due within one year
7
78,702
27,841
--------
--------
Net current assets/(liabilities)
3,569
( 5,262)
--------
--------
Total assets less current liabilities
38,014
7,236
Creditors: amounts falling due after more than one year
8
19,225
5,266
Provisions
8,611
1,387
--------
-------
Net assets
10,178
583
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
10,177
582
--------
----
Shareholders funds
10,178
583
--------
----
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Better Utilities NI Ltd
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mr G Allen
Director
Company registration number: NI670841
Better Utilities NI Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 40 Tievenny Road, Victoria Bridge, Strabane, Co Tyrone, BT82 9LW The principal activity of the company during the year was telecommunications activities.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 3 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 December 2022
18,619
Additions
30,558
--------
At 30 November 2023
49,177
--------
Depreciation
At 1 December 2022
6,121
Charge for the year
8,611
--------
At 30 November 2023
14,732
--------
Carrying amount
At 30 November 2023
34,445
--------
At 30 November 2022
12,498
--------
6. Debtors
2023
2022
£
£
Trade debtors
25,574
Other debtors
16,263
7,687
--------
-------
41,837
7,687
--------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
438
Trade creditors
9,811
1,199
Social security and other taxes
3,324
Other creditors
65,567
26,204
--------
--------
78,702
27,841
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
19,225
5,266
--------
-------
9. Director's advances, credits and guarantees
During the year a director provided loans to the company totalling £43,583. Cash withdrawn by the company on behalf of the director totalled £10,745. The balance owed to the director at 30 November 2023 was £54,866 (2022: £22,028 owed to the director).