Company registration number 09760005 (England and Wales)
CROPWELL ENERGY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CROPWELL ENERGY LTD
COMPANY INFORMATION
Director
Mr R N J S Price
Company number
09760005
Registered office
Farm Office, Stragglethorpe Grainstore
Nottingham Road
Cropwell Bishop
Nottingham
NG12 2JU
Accountants
Ellacotts LLP
Vantage House
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
CROPWELL ENERGY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
CROPWELL ENERGY LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CROPWELL ENERGY LTD FOR THE PERIOD ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cropwell Energy Ltd for the period ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Cropwell Energy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cropwell Energy Ltd and state those matters that we have agreed to state to the Board of Directors of Cropwell Energy Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cropwell Energy Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Cropwell Energy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cropwell Energy Ltd. You consider that Cropwell Energy Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Cropwell Energy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ellacotts LLP
Chartered Accountants
Vantage House
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
Date:
29 October 2024
CROPWELL ENERGY LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
31 March 2024
30 September 2022
Notes
£
£
£
£
Current assets
Stocks
273,017
94,765
Debtors
4
167,689
231,986
Cash at bank and in hand
6,320
52,278
447,026
379,029
Creditors: amounts falling due within one year
5
(191,475)
(146,961)
Net current assets
255,551
232,068
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
255,451
231,968
Total equity
255,551
232,068

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 26 October 2024
Mr R N J S Price
Director
Company registration number 09760005 (England and Wales)
CROPWELL ENERGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Cropwell Energy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Farm Office, Stragglethorpe Grainstore, Nottingham Road, Cropwell Bishop, Nottingham, NG12 2JU.

1.1
Reporting period

The financial statements are presented for a period longer than one year. The reason for this is to align the period end with associated unincorporated entities. As a result, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised as the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

CROPWELL ENERGY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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.

 

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 future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
1
1
CROPWELL ENERGY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
9,584
Corporation tax recoverable
-
0
2,998
Other debtors
21,256
130,000
Prepayments and accrued income
146,433
89,404
167,689
231,986
5
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
162,667
3,619
Corporation tax
5,772
11,057
Other taxation and social security
-
0
27,073
Accruals and deferred income
23,036
105,212
191,475
146,961
6
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2022
Amounts due from related parties
£
£
Other related parties
-
130,000

The company had advanced a loan of £130,000 to an unincorporated related entity, in a previous accounting period. There were receipts of £130,000 in the reporting period and the balance outstanding at the end of the reporting period was £nil (2022: £130,000). Interest was charged on the loan.

Other information

No further transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.

7
Parent company

The company is controlled by Samworth Farms Ltd, by virtue of their 100% shareholding in Cropwell Energy Ltd. The registered office of Samworth Farms Ltd is Farm Office, Stragglethorpe Grainstore, Nottingham Road, Cropwell Bishop, Nottingham, NG12 2JU.

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