Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activitytrue2023-04-0100falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11412897 2023-04-01 2024-03-31 11412897 2022-04-01 2023-03-31 11412897 2024-03-31 11412897 2023-03-31 11412897 c:Director2 2023-04-01 2024-03-31 11412897 d:CurrentFinancialInstruments 2024-03-31 11412897 d:CurrentFinancialInstruments 2023-03-31 11412897 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11412897 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11412897 d:ShareCapital 2024-03-31 11412897 d:ShareCapital 2023-03-31 11412897 d:RetainedEarningsAccumulatedLosses 2024-03-31 11412897 d:RetainedEarningsAccumulatedLosses 2023-03-31 11412897 c:FRS102 2023-04-01 2024-03-31 11412897 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11412897 c:FullAccounts 2023-04-01 2024-03-31 11412897 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11412897 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 11412897 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11412897 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11412897










BUOYANT PRODUCTION TECHNOLOGIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
REGISTERED NUMBER: 11412897

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
334,001
245,430

Bank and cash balances
  
34,043
904

  
368,044
246,334

Creditors: amounts falling due within one year
 5 
(918,223)
(674,323)

Total assets less current liabilities
  
 
 
(550,179)
 
 
(427,989)

Net liabilities
  
(550,179)
(427,989)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(550,279)
(428,089)

  
(550,179)
(427,989)


Page 1

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
REGISTERED NUMBER: 11412897
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






A-L Peters
Director

Date: 29 July 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Buoyant Production Technologies Limited is a private company limited by shares. It is incorporated in England and its registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT. Its registered number is 11412897.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the company had net liabilities of £550,179 (2023 - £427,989). The directors are confident that the company can meet its liabilities with continued financial support from the immediate parent company.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Work is undertaken by employees of Crondall Energy Consultants Ltd, the immediate parent company, and recharged to this company.

Page 5

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Trade debtors
-
86,237

Amounts owed by group undertakings
102,513
84,288

Other debtors
136,253
36,633

Prepayments and accrued income
-
38,272

Deferred taxation
95,235
-

334,001
245,430



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,610
-

Amounts owed to group undertakings
904,213
669,173

Accruals and deferred income
5,400
5,150

918,223
674,323


Page 6

 
BUOYANT PRODUCTION TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Deferred taxation




2024


£






Charged to profit or loss
95,235



At end of year
95,235

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
95,235
-

95,235
-


7.


Related party transactions

TC Loans Limited holds a fixed and floating charge over the company's assets as security against a loan made to Crondall Energy Holdings Ltd.


8.


Controlling party

The immediate parent company is Crondall Energy Consultants Ltd, a company incorporated in England, by virtue of its 100% holding.
The ultimate parent company is Crondall Energy Holdings Ltd, a company incorporated in England, by virtue of its 100% holding of Crondall Energy Ltd and Crondall Energy Consultants Ltd.
The smallest and largest group for which consolidated accounts are drawn up is that headed by Crondall Energy Ltd and its registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

 
Page 7