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REGISTERED NUMBER: 10925888 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Sirius Renewable Energy Ltd

Sirius Renewable Energy Ltd (Registered number: 10925888)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sirius Renewable Energy Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N J Davies
D Mill
P E Kane
M J Powell
S Robinson
P J Taylor





SECRETARY: S Robinson





REGISTERED OFFICE: Russel House
Mill Road
Langley Moor
Co. Durham
DH7 8HJ





REGISTERED NUMBER: 10925888 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Sirius Renewable Energy Ltd (Registered number: 10925888)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 4 710,387

CURRENT ASSETS
Stocks 9,944 -
Debtors 5 1,158,086 415,766
Cash at bank 23,385 75,392
1,191,415 491,158
CREDITORS
Amounts falling due within one year 6 121,982 136,937
NET CURRENT ASSETS 1,069,433 354,221
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,069,437

1,064,608

CREDITORS
Amounts falling due after more than one
year

7

1,801,957

1,880,919
NET LIABILITIES (732,520 ) (816,311 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (732,620 ) (816,411 )
SHAREHOLDERS' FUNDS (732,520 ) (816,311 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sirius Renewable Energy Ltd (Registered number: 10925888)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





S Robinson - Director


Sirius Renewable Energy Ltd (Registered number: 10925888)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sirius Renewable Energy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 company has net liabilities of £732,520 (2022 - £816,411) but has the support of its shareholders. The directors have received confirmation that this financial support will continue. Having assessed the ability of the shareholders to provide this ongoing support, the directors have a reasonable and proper expectation that the company will continue to have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Sirius Renewable Energy Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents income from joint ventures and invoiced goods and services, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Sirius Renewable Energy Ltd (Registered number: 10925888)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 710,387
Additions 3
Disposals (710,386 )
At 31 December 2023 4
NET BOOK VALUE
At 31 December 2023 4
At 31 December 2022 710,387

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 103,838 103,838
Amounts owed by related parties 1,051,832 237,768
Other debtors 2,296 72,500
VAT - 1,660
Prepayments 120 -
1,158,086 415,766

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 115,538 115,236
Amounts owed to group undertakings - 1,628
Amounts owed to related parties 2,071 -
Accrued expenses 4,373 20,073
121,982 136,937

Sirius Renewable Energy Ltd (Registered number: 10925888)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 1,801,957 1,880,919

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Directors' current accounts 1,801,957 1,880,919

Long term directors' current accounts are secured by a fixed charge over all assets, excluding shares in SPV companies included in investments.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100