Registered number
07011907
The Energy Smart Group Limited
Unaudited Filleted Accounts
31 March 2024
The Energy Smart Group Limited
Registered number: 07011907
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 458 -
Tangible assets 4 77,648 24,049
78,106 24,049
Current assets
Stocks 71,379 47,426
Debtors 5 326,736 189,207
Cash at bank and in hand - 75,442
398,115 312,075
Creditors: amounts falling due within one year 6 (350,954) (256,433)
Net current assets 47,161 55,642
Total assets less current liabilities 125,267 79,691
Creditors: amounts falling due after more than one year 7 (59,121) (32,193)
Provisions for liabilities (16,611) (4,570)
Net assets 49,535 42,928
Capital and reserves
Called up share capital 150 150
Profit and loss account 49,385 42,778
Shareholders' funds 49,535 42,928
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Haigh
Director
Approved by the board on 28 October 2024
The Energy Smart Group Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings and equipment over 3 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Grant income
Revenue grants are credited to the profit and loss account as they are received.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Intangible fixed assets £
Cost
Additions 500
At 31 March 2024 500
Amortisation
Provided during the year 42
At 31 March 2024 42
Net book value
At 31 March 2024 458
Intangible assets are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Improvements to leasehold buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 - 6,076 55,703 61,779
Additions 3,900 3,805 61,715 69,420
At 31 March 2024 3,900 9,881 117,418 131,199
Depreciation
At 1 April 2023 - 2,112 35,618 37,730
Charge for the year 1,300 1,785 12,736 15,821
At 31 March 2024 1,300 3,897 48,354 53,551
Net book value
At 31 March 2024 2,600 5,984 69,064 77,648
At 31 March 2023 - 3,964 20,085 24,049
5 Debtors 2024 2023
£ £
Trade debtors 251,922 73,234
Corporation tax recoverable - 11,924
Other debtors 74,814 104,049
326,736 189,207
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,676 9,951
Obligations under finance lease and hire purchase contracts 15,497 5,129
Trade creditors 134,326 197,910
Taxation and social security costs 25,684 19,338
Other creditors 156,771 24,105
350,954 256,433
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,236 22,438
Obligations under finance lease and hire purchase contracts 46,885 9,755
59,121 32,193
8 Related party transactions 2024 2023
£ £
Included in other creditors (2023: other debtors) are the amounts attributable to the Directors current accounts.
Mr M Haigh 910 (5,379)
Mr J Rollett 3,462 (415)
Mr B Barrett 1,291 (3,023)
5,663 (8,817)
9 Controlling party
No one individual holds a controlling interest in the company. The directors collectively hold 100% of the issued share capital.
10 Other information
The Energy Smart Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 15 Flexspace Business Park
Nobel Way
Dinnington, Sheffield
South Yorkshire
S25 3QB
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