IRIS Accounts Production v24.3.0.553 10553645 director 1.2.23 31.1.24 31.1.24 0 0 false true false false true false Ordinary share 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105536452023-01-31105536452024-01-31105536452023-02-012024-01-31105536452022-01-31105536452022-02-012023-01-31105536452023-01-3110553645ns15:EnglandWales2023-02-012024-01-3110553645ns14:PoundSterling2023-02-012024-01-3110553645ns10:Director12023-02-012024-01-3110553645ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3110553645ns10:SmallEntities2023-02-012024-01-3110553645ns10:AuditExemptWithAccountantsReport2023-02-012024-01-3110553645ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3110553645ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110553645ns10:FullAccounts2023-02-012024-01-3110553645ns10:OrdinaryShareClass12023-02-012024-01-3110553645ns10:RegisteredOffice2023-02-012024-01-3110553645ns5:CurrentFinancialInstruments2024-01-3110553645ns5:CurrentFinancialInstruments2023-01-3110553645ns5:ShareCapital2024-01-3110553645ns5:ShareCapital2023-01-3110553645ns5:RetainedEarningsAccumulatedLosses2024-01-3110553645ns5:RetainedEarningsAccumulatedLosses2023-01-3110553645ns5:PlantMachinery2023-02-012024-01-3110553645ns5:PlantMachinery2023-01-3110553645ns5:PlantMachinery2024-01-3110553645ns5:PlantMachinery2023-01-3110553645ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3110553645ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3110553645ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 10553645 (England and Wales)














Deeping Energy Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Deeping Energy Limited (Registered number: 10553645)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 4 to 7


Deeping Energy Limited

Company Information
for the Year Ended 31 January 2024







Director: L H Turner





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Barr Farm
Main Road
Deeping St Nicholas
Spalding
Lincolnshire
PE11 3BW





Registered number: 10553645 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Deeping Energy Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Deeping Energy Limited for the year ended 31 January 2024 which comprise the Statement of income and retained earnings, Statement of financial position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Deeping Energy Limited 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 loss of Deeping Energy Limited. You consider that Deeping Energy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Deeping Energy Limited. 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.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


30 October 2024

Deeping Energy Limited (Registered number: 10553645)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 213,683 224,929

Current assets
Debtors 6 250 26,145
Cash at bank 506 96
756 26,241
Creditors
Amounts falling due within one year 7 361,907 357,933
Net current liabilities (361,151 ) (331,692 )
Total assets less current liabilities (147,468 ) (106,763 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings (147,568 ) (106,863 )
Shareholders' funds (147,468 ) (106,763 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





L H Turner - Director


Deeping Energy Limited (Registered number: 10553645)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

Deeping Energy 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. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 5% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recongised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recongised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recongised in other comprehensive income to the extent of any previously recongised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recongised in profit or loss.

Deeping Energy Limited (Registered number: 10553645)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recongised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recongised at the transaction price unless the arrangement constitutes a financing transaction, where it is recongised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments is non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recongised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recongised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recongised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recongised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recongised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recongised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Deeping Energy Limited (Registered number: 10553645)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts
Assets held under finance leases are recongised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recongised as an asset

4. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

5. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 February 2023
and 31 January 2024 303,347
Depreciation
At 1 February 2023 78,418
Charge for year 11,246
At 31 January 2024 89,664
Net book value
At 31 January 2024 213,683
At 31 January 2023 224,929

Deeping Energy Limited (Registered number: 10553645)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 100 934
VAT 11 -
Deferred tax asset - 25,067
Prepayments and accrued income 139 144
250 26,145

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 227 62
Amounts owed to group undertakings 359,275 355,275
VAT - 191
Accruals and deferred income 2,405 2,405
361,907 357,933

8. Secured debts

Included in creditors are obligations under financial leases and hire purchase contracts which are secured on the assets to which they relate.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary share £1 100 100