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ENEGETIK LTD

Registered Number
SC613485
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

ENEGETIK LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

SOOD, Rajan

Registered Address

6 Chapelton Avenue
Bearsden
Glasgow
G61 2RE

Registered Number

SC613485 (Scotland)
ENEGETIK LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets346,50554,834
Tangible assets48,24911,219
54,75466,053
Current assets
Stocks54,0322,116
Debtors65,1363,997
Cash at bank and on hand87,979104,871
97,147110,984
Creditors amounts falling due within one year7(132,730)(143,441)
Net current assets (liabilities)(35,583)(32,457)
Total assets less current liabilities19,17133,596
Creditors amounts falling due after one year8(16,677)(27,524)
Provisions for liabilities9(2,063)(504)
Net assets4315,568
Capital and reserves
Called up share capital11
Profit and loss account4305,567
Shareholders' funds4315,568
The financial statements were approved and authorised for issue by the Director on 21 August 2024, and are signed on its behalf by:
SOOD, Rajan
Director
Registered Company No. SC613485
ENEGETIK LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 and is recognised at point of sale.
Operating leases
Rentals payable under operating lease, including any lease incentive received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative time pattern in which economic benefits from the lease asset are consumed.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses over a period of 10 years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost and subsequently at cost less any accumulated depreciation amount. Depreciation is provided on all the tangible fixed assets as follows

Reducing balance (%)Straight line (years)
Land and buildings-33
Plant and machinery25-
Office Equipment33-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
Financial assets and liabilities are offset, with the net amounts presented in the financialstatements, 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year99
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 December 2278,8634,43083,293
At 30 November 2378,8634,43083,293
Amortisation and impairment
At 01 December 2226,9451,51428,459
Charge for year7,8864438,329
At 30 November 2334,8311,95736,788
Net book value
At 30 November 2344,0322,47346,505
At 30 November 2251,9182,91654,834
4.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 December 2269828,62788130,206
At 30 November 2369828,62788130,206
Depreciation and impairment
At 01 December 2234318,00963518,987
Charge for year2332,655822,970
At 30 November 2357620,66471721,957
Net book value
At 30 November 231227,9631648,249
At 30 November 2235510,61824611,219
5.Stocks

2023

2022

££
Raw materials and consumables4,0322,116
Total4,0322,116
6.Debtors: amounts due within one year

2023

2022

££
Other debtors3,4892,683
Prepayments and accrued income1,6471,314
Total5,1363,997
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,4487,844
Bank borrowings and overdrafts10,8249,976
Taxation and social security6,27716,416
Other creditors105,000105,592
Accrued liabilities and deferred income3,1813,613
Total132,730143,441
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts16,67727,524
Total16,67727,524
Included within other creditors falling due within one year and creditors falling due after more than one year is £27,500(2022: £37,500) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,063504
Total2,063504
10.Operating lease commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £19,000(2022: £19,000) Due within two and five years: £19,000 (2022: £38,000)
11.Related party transactions
Included in other creditors due with in one year is an amount of £104,521 (2022:£104,521) due to the director.