Hare Energy Ltd NI657719 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Consultancy Digita Accounts Production Advanced 6.30.9574.0 true true true NI657719 2023-01-01 2023-12-31 NI657719 2023-12-31 NI657719 bus:OrdinaryShareClass1 2023-12-31 NI657719 core:CurrentFinancialInstruments 2023-12-31 NI657719 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI657719 core:FurnitureFittingsToolsEquipment 2023-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-12-31 NI657719 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 NI657719 bus:SmallEntities 2023-01-01 2023-12-31 NI657719 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI657719 bus:FilletedAccounts 2023-01-01 2023-12-31 NI657719 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI657719 bus:RegisteredOffice 2023-01-01 2023-12-31 NI657719 bus:Director1 2023-01-01 2023-12-31 NI657719 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI657719 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI657719 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI657719 core:OfficeEquipment 2023-01-01 2023-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 NI657719 core:KeyManagementPersonnel 2023-01-01 2023-12-31 NI657719 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 NI657719 1 2023-01-01 2023-12-31 NI657719 countries:NorthernIreland 2023-01-01 2023-12-31 NI657719 2022-12-31 NI657719 core:FurnitureFittingsToolsEquipment 2022-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 NI657719 2022-01-01 2022-12-31 NI657719 2022-12-31 NI657719 bus:OrdinaryShareClass1 2022-12-31 NI657719 core:CurrentFinancialInstruments 2022-12-31 NI657719 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI657719 core:FurnitureFittingsToolsEquipment 2022-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 NI657719 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-01-01 2022-12-31 NI657719 2021-12-31 NI657719 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI657719

Hare Energy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Hare Energy Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Hare Energy Ltd

Company Information

Director

Mrs A E A Gardiner

Registered office

2 Ashleigh Park
Ballymena
Antrim
BT42 1DR

Accountants

DT Carson & Co.
51 - 53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ

 

Hare Energy Ltd

(Registration number: NI657719)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

242

Current assets

 

Debtors

5

150,871

150,025

Cash at bank and in hand

 

11,010

11,314

 

161,881

161,339

Creditors: Amounts falling due within one year

6

(4,685)

(4,019)

Net current assets

 

157,196

157,320

Net assets

 

157,196

157,562

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

157,096

157,462

Shareholders' funds

 

157,196

157,562

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mrs A E A Gardiner
Director

 

Hare Energy Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
2 Ashleigh Park
Ballymena
Antrim
BT42 1DR
Northern Ireland

These financial statements were authorised for issue by the director on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentational currency of these financial statements is sterling and all amounts have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. The director has assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The director believes that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hare Energy Ltd

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

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The company assesses at each reporting date whether tangible fixed assets are impaired.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Hare Energy Ltd

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,214

1,214

At 31 December 2023

1,214

1,214

Depreciation

At 1 January 2023

972

972

Charge for the year

242

242

At 31 December 2023

1,214

1,214

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

242

242

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

150,000

150,025

Other debtors

 

871

-

   

150,871

150,025

 

Hare Energy Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

2,297

1,800

Other creditors

2,388

2,219

4,685

4,019

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       
 

Hare Energy Ltd

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

8

Related party transactions

Key management personnel

The company's key management personnel are deemed to be the directors.

Expenditure with and payables to related parties

2023

Key management
£

Purchase of goods

169

Amounts payable to related party

2,388

2022

Key management
£

Amounts payable to related party

2,218

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

150,025

150,025

Repaid

(25)

(25)

At end of period

150,000

150,000

2022

Entities with joint control or significant influence
£

Total
£

At start of period

100,025

100,025

Advanced

50,000

50,000

At end of period

150,025

150,025

Terms of loans to related parties

Loans owed are denominated in sterling, are interest free and repayable on demand.
 

9

Parent and ultimate parent undertaking

The ultimate controlling party is Anita Gardiner.