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REGISTERED NUMBER: 03522135 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31st December 2023

for

Enerflex (UK) Limited

Enerflex (UK) Limited (Registered number: 03522135)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Enerflex (UK) Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: P A J Pyle
J K Bryanton





SECRETARY: Abogado Nominees Ltd.





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 03522135 (England and Wales)





AUDITORS: Beak Kemmenoe
Chartered Accountants
& Statutory Auditors
1-3 Manor Road
Chatham
Kent
ME4 6AE

Enerflex (UK) Limited (Registered number: 03522135)

Report of the Directors
for the Year Ended 31st December 2023


The directors present their report with the financial statements of the company for the year ended 31st December 2023.

DIRECTORS
P A J Pyle has held office during the whole of the period from 1st January 2023 to the date of this report.

Other changes in directors holding office are as follows:

J K Bryanton was appointed as a director after 31st December 2023 but prior to the date of this report.

H C Kinghorn ceased to be a director after 31st December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Beak Kemmenoe, are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P A J Pyle - Director


25th September 2024

Report of the Independent Auditors to the Members of
Enerflex (UK) Limited


Opinion
We have audited the financial statements of Enerflex (UK) Limited (the 'company') for the year ended 31st December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Enerflex (UK) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Enerflex (UK) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the engineering and manufacturing industry together with commissions thereon;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Enerflex (UK) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ronald Price FCA (Senior Statutory Auditor)
for and on behalf of Beak Kemmenoe
Chartered Accountants
& Statutory Auditors
1-3 Manor Road
Chatham
Kent
ME4 6AE

25th September 2024

Enerflex (UK) Limited (Registered number: 03522135)

Income Statement
for the Year Ended 31st December 2023

2023 2022
Notes £    £   

TURNOVER 1,092,474 1,054,593

Cost of sales 797,163 782,301
GROSS PROFIT 295,311 272,292

Administrative expenses 607,632 273,262
(312,321 ) (970 )

Other operating income - 144,876
OPERATING (LOSS)/PROFIT (312,321 ) 143,906

Interest receivable and similar income 26 -
(LOSS)/PROFIT BEFORE TAXATION 4 (312,295 ) 143,906

Tax on (loss)/profit 5 (72,241 ) 27,254
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(240,054

)

116,652

Enerflex (UK) Limited (Registered number: 03522135)

Other Comprehensive Income
for the Year Ended 31st December 2023

2023 2022
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (240,054 ) 116,652


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(240,054

)

116,652

Enerflex (UK) Limited (Registered number: 03522135)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 - -

CURRENT ASSETS
Stocks and work in progress 7 33,194 33,412
Debtors 8 4,546,816 453,151
Cash at bank 557,501 827,528
5,137,511 1,314,091
CREDITORS
Amounts falling due within one year 9 4,677,475 614,001
NET CURRENT ASSETS 460,036 700,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

460,036

700,090

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 460,034 700,088
SHAREHOLDERS' FUNDS 460,036 700,090

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

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





P A J Pyle - Director


Enerflex (UK) Limited (Registered number: 03522135)

Statement of Changes in Equity
for the Year Ended 31st December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st January 2022 2 583,436 583,438

Changes in equity
Total comprehensive income - 116,652 116,652
Balance at 31st December 2022 2 700,088 700,090

Changes in equity
Total comprehensive income - (240,054 ) (240,054 )
Balance at 31st December 2023 2 460,034 460,036

Enerflex (UK) Limited (Registered number: 03522135)

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


1. STATUTORY INFORMATION

Enerflex (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii),
B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued
Operations;
the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;
the requirements of IFRS 7 Financial Instruments: Disclosures;
the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of
IFRS 16 Leases;
the requirements of paragraph 58 of IFRS 16;
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to
(c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative
information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to
136 of IAS 1;
the requirements of IAS 7 Statement of Cash Flows;
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates
and Errors;
the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;
the requirements of paragraph 74(b) of IAS 16;
the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into
between two or more members of a group;
the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Critical accounting judgements and key sources of estimation uncertainty
No assumptions or estimates that are material to the Financial Statements have been noted.

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33.33% straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefit costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Onerous contracts
A provision for onerous contracts is recognised when the expected benefits to be derived by the company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established, the company recognises any impairment loss on the assets associated with that contract.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events. It is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is recognised as the company satisfies its performance obligations by transferring promised goods or services to customers, regardless of when payment is received. Revenue is measured at the amount of consideration to which the company expects to be entitled, in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties, and may include fixed amounts, variable amounts, or both. Variable amounts are recorded using either the "expected value approach" or the "most likely outcome approach", as determined upon initial recognition of the contract, and are reassessed at each reporting period. The expected value approach measures variable consideration by probability weighting all the potential outcomes. The most likely outcome approach measures variable consideration as Management's best estimate of the variable component. In estimating variable consideration, the company reviews any potential for returns, refunds, and other similar obligations. For contracts containing multiple performance obligations, the amount of consideration to which the company expects to be entitled is allocated to individual performance obligations proportionately based on the stand-alone selling price.

After-Market Services

After-Market Services revenues include the sales of parts and equipment, as well as the servicing and maintenance of equipment. For the sale of parts and equipment, revenue is recognised when the transfer of control passes, which is typically at the point of shipping.

Revenue from long-term service contracts is recognised on a stage of completion basis proportionate to the service work that has been performed based on parts and labour service provided. Payments are typically required on a monthly basis or as work is performed, with no unusual payment terms. At the completion of the contract, any remaining profit on the contract is recognised as revenue. Any expected losses on such projects are charged to operation when determined. Long-term service include scheduled milestone maintenance, corrective or crash maintenance, the supply of parts, and the operation of equipment.

Engineered Systems

Revenue from the supply of equipment systems - contracts typically involving engineering, design, manufacture, installation, and start-up of equipment - is accounted for as Engineered Systems (ES) revenue. Such revenue is recognised on a percentage-of-completion basis proportionate to the costs incurred of the project. At the completion of the contract, any remaining profit on the contract is recognised as revenue. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. Revenue from ES includes the supply of compression, processing, and electric power equipment, as well as retrofit work and construction on turnkey projects. The company also provides a warranty on manufactured equipment as part of the standard terms and conditions of the contract. No options are provided for the customer to purchase a warranty separately.

For ES contracts, the company generally requires customers to pay based on milestones as manufacturing progresses. These milestones are generally structured to keep the company cash flow-positive. Contracts are also generally structured to ensure the company is fully covered for costs incurred in the event of cancellation.

Revenue from contracts that have been classed as finance leases for newly manufactured equipment are recorded as ES revenue for the upfront sale of equipment recognised at a point in time when the lease commences.

ES projects are typically completed within a year, however this timing can be impacted by both internal and external factors such as shop loading and customer delivery requests.

The company has elected to omit adjusting for significant financing components in the consideration amount if the entity expects payment within one year of transferring goods or services to a customer. Incremental costs of obtaining a contract predominantly relate to commission costs on ES projects, which are typically completed with one year. Accordingly, the company did not recognise commission costs incurred as an asset in the statements of financial position.

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 160,497 110,179
Social security costs 14,073 8,018
Other pension costs 53,590 32,410
228,160 150,607

The average number of employees during the year was as follows:
2023 2022

Total number of employees 3 3

2023 2022
£    £   
Directors' remuneration - -

The directors are remunerated via the Group.

4. (LOSS)/PROFIT BEFORE TAXATION

The loss before taxation (2022 - profit before taxation) is stated after charging/(crediting):
2023 2022
£    £   
Cost of inventories recognised as expense 797,163 782,301
Auditors remuneration 10,060 5,733
Auditors' remuneration for non audit work 1,790 1,724
Foreign exchange differences 164,241 (36,863 )

5. TAXATION

Analysis of tax (income)/expense
2023 2022
£    £   
Current tax:
Tax (18,183 ) 27,285

Deferred tax (54,058 ) (31 )
Total tax (income)/expense in income statement (72,241 ) 27,254

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. TAXATION - continued

Factors affecting the tax expense
The tax assessed for the year is higher (2022 - lower) than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
(Loss)/profit before income tax (312,295 ) 143,906
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

(78,074

)

27,342

Effects of:
Expenses not deductible for tax purposes - 19
Differences between capital allowances and depreciation 89 (82 )

Deferred tax - (31 )
Effect of change in standard rate of corporation tax in the UK 5,744 -
Losses brought forward and repaid - 6
Tax (income)/expense (72,241 ) 27,254

6. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st January 2023
and 31st December 2023 21,461
DEPRECIATION
At 1st January 2023
and 31st December 2023 21,461
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

7. STOCKS AND WORK IN PROGRESS
2023 2022
£    £   
Stocks and work in progress 33,194 33,412

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,472,106 423,679
Other debtors and prepayments 74,710 29,472
4,546,816 453,151

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Deferred tax asset
2023 2022
£    £   
Accelerated capital allowances 306 485
Tax losses carried forward 54,238 -
54,544 485

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 351,262 383,711
Corporation tax - 18,183
Social security and other taxes 814,605 3,552
Other creditors and accruals 273,919 208,555
Deferred income 3,237,689 -
4,677,475 614,001

10. DEFERRED TAX
£   
Balance at 1st January 2023 (485 )
Capital allowance timing 179
Losses carried forward (54,238 )
Balance at 31st December 2023 (54,544 )

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained
earnings
£   

At 1st January 2023 700,088
Deficit for the year (240,054 )
At 31st December 2023 460,034

Enerflex (UK) Limited (Registered number: 03522135)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


13. ULTIMATE PARENT COMPANY

Enerflex Limited (incorporated in Canada ) is regarded by the directors as being the company's ultimate parent company.

Enerflex Limited is a listed company and due to the diverse shareholding there is no ultimate controlling party.

14. GROUP GUARANTEE

A first floating charge is held over all present and future assets and rights of any kind against the debts of the group.