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Company Registration No. 04946049 (England and Wales)
Third Energy Onshore Limited Unaudited accounts for the year ended 31 December 2023
Third Energy Onshore Limited Unaudited accounts Contents
Page
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Third Energy Onshore Limited Company Information for the year ended 31 December 2023
Directors
Karl Farrow Glynn Williams
Company Number
04946049 (England and Wales)
Registered Office
Keyword House Viking Road Great Yarmouth Norfolk NR31 0NU England
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Third Energy Onshore Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investments
39,317 
39,317 
Current assets
Debtors
134,318 
1,679,521 
Cash at bank and in hand
3,088 
10,330 
137,406 
1,689,851 
Creditors: amounts falling due within one year
210,585 
(1,277,891)
Net current assets
347,991 
411,960 
Net assets
387,308 
451,277 
Capital and reserves
Called up share capital
20,640,105 
20,640,105 
Capital redemption reserve
81,678,139 
81,678,139 
Capital contribution reserve
714,826 
714,826 
Profit and loss account
(102,645,762)
(102,581,793)
Shareholders' funds
387,308 
451,277 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2024 and were signed on its behalf by
Karl Farrow Director Company Registration No. 04946049
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Third Energy Onshore Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Third Energy Onshore Limited is a private company, limited by shares, registered in England and Wales, registration number 04946049. The registered office is Keyword House, Viking Road, Great Yarmouth, Norfolk, NR31 0NU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of these financial statements. Based on the forecasts prepared the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investments
Investments in shares are included at fair value.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Third Energy Onshore Limited Notes to the Accounts for the year ended 31 December 2023
4
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
39,317 
Valuation at 31 December 2023
39,317 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
81 
Amounts due from group undertakings etc.
- 
1,675,271 
Accrued income and prepayments
- 
4,169 
- 
1,679,521 
Amounts falling due after more than one year
Other debtors
134,318 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,111 
- 
Trade creditors
2,256 
11,349 
Amounts owed to group undertakings and other participating interests
(220,102)
1,175,797 
Taxes and social security
- 
11,040 
Accruals
3,150 
79,705 
(210,585)
1,277,891 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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