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2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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8714329
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2023-12-31
COMPANY REGISTRATION NUMBER:
8714329
Systems Power Engineering Limited |
|
Unaudited Financial Statements |
|
Systems Power Engineering Limited |
|
Year ended 31 December 2023
Officers and professional advisers |
1 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
4 |
|
|
Systems Power Engineering Limited |
|
Officers and Professional Advisers |
|
Company secretary |
Mrs D J Skipper |
|
|
Registered office |
Prince of Wales Industrial Estate |
|
Darren Drive |
|
Abercarn |
|
Newport |
|
NP11 5AR |
|
|
Systems Power Engineering Limited |
|
Year ended 31 December 2023
The director presents his report and the unaudited financial statements of the company for the year ended
31 December 2023
.
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Director
The director who served the company during the year was as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
16 September 2024
and signed on behalf of the board by:
Registered office: |
Prince of Wales Industrial Estate |
Darren Drive |
Abercarn |
Newport |
NP11 5AR |
|
Systems Power Engineering Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Current assets
Creditors: amounts falling due within one year |
6 |
52 |
52 |
|
---- |
---- |
Net current liabilities |
51 |
51 |
|
---- |
---- |
Total assets less current liabilities |
1 |
1 |
|
---- |
---- |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
|
---- |
---- |
Shareholders funds |
1 |
1 |
|
---- |
---- |
|
|
|
These financial statements have been prepared 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'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
16 September 2024
, and are signed on behalf of the board by:
Company registration number:
8714329
Systems Power Engineering Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prince of Wales Industrial Estate, Darren Drive, Abercarn, Newport, NP11 5AR.
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.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Investments
|
Shares in participating interests |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
52 |
|
---- |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2023 |
52 |
|
---- |
At 31 December 2022 |
52 |
|
---- |
|
|
The company owns 50% of the issued share capital of the companies listed below
Aggregate capital and reserves
Brecon Energy Limited (dormant)
United Engineering Associates Limited (dormant)
Profit and (loss) for the year
Brecon Energy Limited (dormant)
United Engineering Associates Limited (dormant)
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1 |
1 |
|
---- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
52 |
52 |
|
---- |
---- |
|
|
|
7.
Related party transactions
The company was under the control of
SPE Energy Limited
(SC079314) throughout the period. SPE Energy Limited owns 100% of the issued share capital of Systems Power Engineering Limited
. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A
.