Year Ended
Registration number:
AES Sustainability Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
AES Sustainability Limited
Balance Sheet
30 November 2023
Note |
2023 |
(As restated) |
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Fixed assets |
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Intangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Shareholders' funds |
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AES Sustainability Limited
Balance Sheet
30 November 2023
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 12002337
AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
Prior period adjustment
In previous years, the capital value of A shares has been treated as equity. As the capital value of the A shares represents a contractual obligation to deliver cash, the capital value of the A shares has been reclassified as a liability and the prior period has been restated accordingly.
The capital value of the A shares in previous years was found to have been understated. This has resulted in a restatement being required to the investment value in the prior year.
The A shareholders are entitled to an interest element on the capital value of the A shares, which had not previously been accrued for in the company accounts. The prior year profit and loss account has been restated to reflect the interest accrued in that year, with the prior year opening retained earnings also being restated to reflect interest acrrued up to 30 November 2021.
As previously |
Adjustment |
As restated |
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reported |
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Year ended 30 November 2022 |
£ |
£ |
£ |
Opening profit and loss reserve |
1,250,197 |
(44,571) |
1,205,626 |
Share premium |
329,510 |
(281,510) |
48,000 |
Share capital |
2,005 |
(5) |
2,000 |
Interest charged |
35,673 |
19,887 |
55,560 |
Closing profit and loss reserve |
1,220,670 |
(64,458) |
1,156,212 |
Other creditors |
- |
351,333 |
351,333 |
Investments |
3,058,436 |
5,360 |
3,063,796 |
Revenue recognition
Turnover represents management charges and income from software services received from subsidiary companies. Revenue is received upon delivery of service.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Intangible assets
Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life. Computer software costs are not amortised until the software has been fully developed and brought into use.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
Asset class |
Amortisation method and rate |
Software development costs |
5 years straight line |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
Intangible assets |
Software development costs |
Total |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
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At 30 November 2023 |
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Amortisation |
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Amortisation charge |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Investments |
2023 |
(As restated) |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 December 2022 |
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Provision |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
Debtors |
2023 |
2022 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
(As restated) |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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AES Sustainability Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2023
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Other borrowings |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2,000 |
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2,000 |