Registration number:
1Energy Holding Limited
for the Period from 16 November 2022 to 31 December 2023
Pages for filing with Registrar
1Energy Holding Limited
Contents
Company Information |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
1Energy Holding Limited
Company Information
Directors |
AJ Wettern JP Bungey |
Registered office |
|
Registered number |
14489084 |
Auditors |
|
1Energy Holding Limited
(Registration number: 14489084)
Balance Sheet as at 31 December 2023
Note |
2023 |
|
Fixed assets |
||
Investments |
|
|
Current assets |
||
Debtors |
|
|
Creditors: Amounts falling due within one year |
( |
|
Net current assets |
|
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
|
|
Total shareholders funds |
|
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
1Energy Holding Limited
Statement of Changes in Equity for the Period from 16 November 2022 to 31 December 2023
Share capital |
Total |
|
New share capital subscribed but not yet paid (Note 7) |
|
|
At 31 December 2023 |
|
|
1Energy Holding Limited
Notes to the Financial Statements for the Period from 16 November 2022 to 31 December 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The accounting policies adopted by the company have been selected and applied based on the best judgment and in accordance with the requirements of the applicable accounting standards. The company will continue to review and refine its accounting policies as necessary to ensure compliance with the accounting standards and changing needs of the business.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The directors have prepared the financial statements on a going concern basis which assumes that the company will have sufficient financial resources to meet its liabilities for a period of at least twelve months from the date of approving these financial statements. The directors have considered the support received from the wider group when completing this assessment and based on the continued support which the directors expect to be available from the wider group, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Group accounts not prepared
1Energy Holding Limited
Notes to the Financial Statements for the Period from 16 November 2022 to 31 December 2023
Expenses
Certain administrative expenses are being borne by 1Energy Group Limited and will not be reimbursed. 1Energy Group Limited is a related party by virtue of the directors of this company being on the board of 1Energy Group Limited |
Investment in joint venture
A joint venture is an activity that is controlled jointly by the Company and one or more other investors under a contractual arrangement. The Company has investments in a joint venture established in a separate legal entity 1Energy Group Limited (JV company). Investments in joint ventures are recognised initially in the statement of financial position at cost (including transaction costs). Subsequently, they are accounted for using the cost model, measuring the interest in the joint venture at cost less impairment.
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Trade and other debtors
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses.
Trade and other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company during the period, was
1Energy Holding Limited
Notes to the Financial Statements for the Period from 16 November 2022 to 31 December 2023
Investments |
2023 |
|
Investments in joint ventures |
|
As per the Joint Venture Agreement dated 6 January 2022, Asper Investment Management Limited and 1Energy Group Limited entered into the joint venture agreement (JV Agreement) to collaborate with each other to build a leading industrial scale company in the UK district energy sector, by developing, acquiring, financing, building and operating a series of district energy networks and other forms of municipal and industrial scale sustainable energy projects in the UK. The JV Agreement was further novated on 25 November 2022 and 5 December 2022, replacing 1Energy Group Limited with 1Energy Holding Limited and Asper Investment Management Limited with Asper DHUK Holding Company Limited. As at 31 December 2023, Asper DHUK Holding Ltd and 1Energy Holding Limited (the venturers) have contributed £1,000 in exchange for 50% of the share capital 1Energy Group Limited (JV company).
Debtors: amounts falling due within one year |
2023 |
|
Called up share capital not paid |
|
|
Creditors |
Note |
2023 |
|
Amounts falling due within one year |
||
Amounts owed to group undertakings |
|
1Energy Holding Limited
Notes to the Financial Statements for the Period from 16 November 2022 to 31 December 2023
Share capital |
Allotted, called up and not fully paid shares
2023 |
||
No. |
£ |
|
|
|
770 |
|
|
330 |
|
1,100 |
On incorporation on 16 November 2022, the company issued 10,000 ordinary shares of £0.01 each at par, an aggregate value of £100. On 25 November 2022 10,000 ordinary shares were redesignated as 7,000 ordinary A shares and 3,000 ordinary B shares of £0.01 each. On 25 November 2022 a further 70,000 ordinary £0.01 A shares and 30,000 ordinary £0.01 B shares were issued at par.
Related party transactions |
Other transactions with directors |
At the period end £1,100 in respect of unpaid share capital is due to the company from the directors in their capacity as shareholders.
Summary of transactions with group undertakings
Audit report |
As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
•
•
• The auditor was