Plentiful Energy Ltd Filleted Accounts Cover
Plentiful Energy Ltd
Company No. 11815458
Information for Filing with The Registrar
29 February 2024
Plentiful Energy Ltd Balance Sheet Registrar
at
29 February 2024
Company No.
11815458
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
373373
373373
Current assets
Debtors
5
34,43623,678
Cash at bank and in hand
1,589610
36,02524,288
Creditors: Amount falling due within one year
6
(27,579)
(12,336)
Net current assets
8,44611,952
Total assets less current liabilities
8,81912,325
Creditors: Amounts falling due after more than one year
7
(23,255)
(31,667)
Net liabilities
(14,436)
(19,342)
Capital and reserves
Called up share capital
1010
Profit and loss account
9
(14,446)
(19,352)
Total equity
(14,436)
(19,342)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 29 February 2024 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 01 October 2024 and signed on its behalf by:
S.M.M. Mohaghegh Ahmadabadi
Director
01 October 2024
Plentiful Energy Ltd Notes to the Accounts Registrar
for the year ended 29 February 2024
1
General information
Plentiful Energy Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11815458
Its registered office is:
71-75 Shelton Street
London
WC2H 9JQ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Pound Sterling (£) which is the functional and presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The company has obtained undertakings from its shareholders that they will continue to support the company for the foreseeable future and meet all third party liabilities as they fall due. Given this undertaking, the director consider's it appropriate to adopt a going concern basis in preparing the financial statements.
2
Accounting policies
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These 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.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and the future periods where the revision affects both current and future periods.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates. The following criteria must also be met before revenue is recognised:

Turnover from sale of services is recognised when the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 March 2023
542542
At 29 February 2024
542542
Depreciation
At 1 March 2023
169169
At 29 February 2024
169169
Net book values
At 29 February 2024
373373
At 28 February 2023
373
373
5
Debtors
2024
2023
£
£
Trade debtors
13,354-
VAT recoverable
54027
Other debtors
20,54223,651
34,43623,678
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,00010,000
Trade creditors
20336
Loans from directors
15,557-
Accruals and deferred income
2,0022,000
27,57912,336
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
23,25531,667
23,25531,667
8
Share Capital
Fully paid 10,000 ordinary shares of £0.001 each
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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