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REGISTERED NUMBER: 07879770 (England and Wales)






















Hotham Energy Limited

Financial Statements for the Year Ended 5th April 2024






Hotham Energy Limited (Registered number: 07879770)






Contents of the Financial Statements
for the year ended 5th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hotham Energy Limited

Company Information
for the year ended 5th April 2024







DIRECTOR: The Hon W B Hotham





SECRETARY: Mr S N Fairbank





REGISTERED OFFICE: The Estate Office
West End
South Dalton
Beverley
East Yorkshire
HU17 7PN





REGISTERED NUMBER: 07879770 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Hotham Energy Limited (Registered number: 07879770)

Balance Sheet
5th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349,182 336,996

CURRENT ASSETS
Debtors 5 48,170 57,010
Cash at bank and in hand 23,432 14,053
71,602 71,063
CREDITORS
Amounts falling due within one year 6 394,704 464,505
NET CURRENT LIABILITIES (323,102 ) (393,442 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,080

(56,446

)

CREDITORS
Amounts falling due after more than one
year

7

(49,729

)

-

PROVISIONS FOR LIABILITIES (5,277 ) -
NET LIABILITIES (28,926 ) (56,446 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (29,026 ) (56,546 )
SHAREHOLDERS' FUNDS (28,926 ) (56,446 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Hotham Energy Limited (Registered number: 07879770)

Balance Sheet - continued
5th April 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd September 2024 and were signed by:





The Hon W B Hotham - Director


Hotham Energy Limited (Registered number: 07879770)

Notes to the Financial Statements
for the year ended 5th April 2024

1. STATUTORY INFORMATION

Hotham Energy Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The company is dependent on the financial support of a related party which has provided security in respect of the secured loan referred to in the notes to the financial statements. Accordingly the financial statements have been prepared on the going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern and liquidity risk
The director has carefully considered the activities of the company for the period of 12 months from the approval of these financial statements and the liquid resources available. The company is dependent upon the financial support of a related party which has agreed to continue to provide financial support for the foreseeable future. Accordingly these financial statements have been prepared on the going concern basis.

Turnover
Turnover represents income derived from electricity and heat generated from solar and biomass installations. Turnover is recognised net of VAT on an accruals basis during the period in which it is generated.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Plant and equipment 5%, 10%, 15% and 33% on cost


Hotham Energy Limited (Registered number: 07879770)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

2. ACCOUNTING POLICIES - continued
Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and 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 and 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. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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 profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Hotham Energy Limited (Registered number: 07879770)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 6th April 2023 851,384
Additions 57,250
At 5th April 2024 908,634
DEPRECIATION
At 6th April 2023 514,388
Charge for year 45,064
At 5th April 2024 559,452
NET BOOK VALUE
At 5th April 2024 349,182
At 5th April 2023 336,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,581 28,782
Other debtors - 6,349
VAT - 404
Prepayments and accrued income 30,589 21,475
48,170 57,010

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 6,271 15,651
Trade creditors 9,952 37,709
VAT 210 -
Other creditors 348,000 383,700
Accruals and deferred income 30,271 27,445
394,704 464,505

Other creditors include short term loans from connected parties under common control. There are no formal terms in place therefore the total balance of £348,000 (2023 £383,700) is shown as repayable on demand. Interest is chargeable at the rate of 0.5% over the base rate of Lloyds Bank PLC.

Hotham Energy Limited (Registered number: 07879770)

Notes to the Financial Statements - continued
for the year ended 5th April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,774 -
Bank loans - 2-5 years 23,760 -
Bank loans more 5 yr by instal 19,195 -
49,729 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,195 -

A bank loan of £200,000 was taken out on 8 September 2016 and is repayable over a period of 7 years by monthly instalments. Interest was chargeable at a fixed rate of 2.5%. This loan was fully repaid in the year. This bank loan is secured by a legal charge over freehold property of a related party.

A bank loan of £56,000 was taken out on 26 March 2024 and is repayable over a period of 7 years by monthly instalments. Interest is chargeable at a fixed rate of 7.75%. The total amount outstanding as at 5 April 2024 is £56,000. This bank loan is secured by a legal charge over freehold property of a related party.

8. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024 2023
£    £   
Amounts owed to related party 33,638 127,594