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REGISTERED NUMBER: 09141043 (England and Wales)

















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 January 2024

for

PLJ Energy Ltd

PLJ Energy Ltd (Registered number: 09141043)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


PLJ Energy Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr C Edmonds
Ms L M Edmonds





REGISTERED OFFICE: Elizabeth House
Latimer Way
Sherwood Energy Village
Ollerton
Nottinghamshire
NG22 9QW





REGISTERED NUMBER: 09141043 (England and Wales)





AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

PLJ Energy Ltd (Registered number: 09141043)

Group Strategic Report
for the Year Ended 31 January 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS
PLJ Energy Ltd has experienced a dynamic year, delivering significant projects and maintaining strong relationships with key clients. We successfully completed large-scale projects across multiple portfolios, including ongoing collaborations with prominent clients such as HWB, NHS, and Center Parcs. This year's accomplishments reflect our commitment to delivering high-quality energy engineering solutions and sustaining our reputation as a reliable contractor in the industry.

PRINCIPAL RISKS AND UNCERTAINTIES
The primary risks faced by the group include:

- Material Costs Uncertainty: The volatility in material costs poses a significant challenge. To mitigate this risk, we have established robust supplier partnerships, ensuring cost certainty for our clients and maintaining our competitive edge.

- Skill Shortages: The renewable energy sector continues to face a shortage of skilled professionals. To address this, we have invested in dedicated in-house training programs for estimators, designers, and engineers. This strategy not only meets our current needs but also positions us for sustainable growth by building a skilled workforce internally.

KEY PERFORMANCE INDICATORS (KPI'S)
Financial KPI

- Revenue Growth: Aim for a 5-10% increase in annual turnover.

- Turnover: Turnover was down by 18.78% during the year, falling from £19.6m to £15.9m in 2024. The decrease in turnover is due to a significant reduction in the cost of solar panels, which fell by approximately 35% between March 2022 and March 2023. This price drop, while impacting overall revenue, has positively positioned us to offer more competitive pricing to our clients, ultimately strengthening our market position and driving long-term growth potential.

- Gross Profit Margin: Despite the decrease in turnover, the gross profit margin was up from 12.58% in 2023 to 37.53% in these financial statements.

- Net Profit Margin: As well as the gross profit margin increasing, the net profit margin also increased from 5.8% to 27.2% in 2024.


Non-Financial KPI

- Increase Post-Installation Customer Engagement: Our focus is on enhancing post-installation support and continued care. We aim to provide an enhanced aftercare service that includes comprehensive support and educational resources for our customers. This initiative is designed to foster longer-term relationships with our customer partners, ensuring their systems operate efficiently and effectively while promoting loyalty and repeat business.


PLJ Energy Ltd (Registered number: 09141043)

Group Strategic Report
for the Year Ended 31 January 2024

FUTURE PLANS AND STRATEGIC DIRECTION
Looking ahead, PLJ Energy Ltd is poised for continued growth and success. Our strategic priorities for the coming year include:

- Market Expansion: We aim to expand our market presence by targeting new customer segments, leveraging our expertise in large-scale rooftop solar projects to penetrate further into commercial and industrial markets.

- Innovation and Technology: Investment in cutting-edge technology and innovation remains a priority. We look to continue to develop and integrate AI and automation into our offerings, enhancing operational efficiency and providing advanced analytics and monitoring for our clients.

- Workforce Development: Recognising the critical importance of skilled personnel, we will continue to enhance our in-house training programs. Our goal is to attract and retain top talent, ensuring we have the expertise needed to support our growth and maintain our high standards of service delivery.

- Sustainability Initiatives: We will intensify our efforts to reduce our carbon footprint and promote sustainable practices both within our company and among our clients. This includes increasing the use of eco-friendly materials and promoting energy-efficient solutions.

- Customer Engagement: Enhancing post-installation customer engagement will be a significant focus. By implementing comprehensive follow-up procedures and providing ongoing support and education, we aim to foster long-term relationships and ensure customer satisfaction.

- Financial Performance: Our financial strategy is centred on maintaining robust growth and profitability. We aim for a 5-10% increase in annual turnover while ensuring efficient cost management and operational excellence.

CONCLUSION
PLJ Energy Ltd is well-positioned to capitalise on emerging opportunities in the renewable energy sector. By focusing on market expansion, innovation, workforce development, sustainability, and customer engagement, we aim to deliver sustained value to our stakeholders and achieve our strategic goals.

ON BEHALF OF THE BOARD:





Mr C Edmonds - Director


31 October 2024

PLJ Energy Ltd (Registered number: 09141043)

Report of the Directors
for the Year Ended 31 January 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of installation and supply of renewable energy products.

DIVIDENDS
No dividends will be distributed for the year ended 31 January 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
Mr C Edmonds has held office during the whole of the period from 1 February 2023 to the date of this report.

DONATIONS
During the year, the group made multiple donations totalling £2,900.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

PLJ Energy Ltd (Registered number: 09141043)

Report of the Directors
for the Year Ended 31 January 2024


AUDITORS
The auditors, Sutton McGrath Hartley, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr C Edmonds - Director


31 October 2024

Report of the Independent Auditors to the Members of
PLJ Energy Ltd

Opinion
We have audited the financial statements of PLJ Energy Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
PLJ Energy Ltd


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
PLJ Energy Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment of the susceptibility to material misstatement, whether by fraud or error, is made in a risk based
approach.

In this approach, laws and regulations applicable to the entity, such as the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102, the relevant tax compliance regulations within the UK, employment law, and Health and Safety law is considered, and the policies and controls the entity has in place to comply with these laws are reviewed, by discussion, reviews of correspondence and registrations monitored by external bodies. The engagement team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Policies and controls relating to the risk of material misstatement as a result of fraud are also considered. These are
assessed by obtaining an understanding of the company's operations and control environment. The policies and
controls have been reviewed by discussion, review and sample testing of accounting entries, challenging assumptions and investments, income recognition and cut off are also tested.

We have ensured that the engagement team have appropriate levels of competence and experience to effectively
monitor these risks and carry out work relevant to our assessment of each risk, including consideration of the industry the company operates in and its size and complexity.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters which we are required to address
The comparative figures have not been audited as the audit exemption was taken. As far as we are aware, there is no material misstatement in those figures.

Report of the Independent Auditors to the Members of
PLJ Energy Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




James Salim FCCA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

31 October 2024

PLJ Energy Ltd (Registered number: 09141043)

Consolidated
Income Statement
for the Year Ended 31 January 2024

2024 2023
Notes £ £ £ £

TURNOVER 3 15,941,812 19,628,312

Cost of sales 9,958,584 17,159,415
GROSS PROFIT 5,983,228 2,468,897

Distribution costs 1,211,337 863,512
Administrative expenses 493,415 444,670
1,704,752 1,308,182
4,278,476 1,160,715

Other operating income - 104
OPERATING PROFIT 5 4,278,476 1,160,819

Interest receivable and similar income 2,604 1,668
4,281,080 1,162,487
Gain/loss on revaluation of tangible assets 70,585 -
4,351,665 1,162,487

Interest payable and similar expenses 6 21,797 15,320
PROFIT BEFORE TAXATION 4,329,868 1,147,167

Tax on profit 7 1,094,236 221,203
PROFIT FOR THE FINANCIAL YEAR 3,235,632 925,964
Profit attributable to:
Owners of the parent 3,235,632 925,964

PLJ Energy Ltd (Registered number: 09141043)

Consolidated
Other Comprehensive Income
for the Year Ended 31 January 2024

2024 2023
Notes £ £

PROFIT FOR THE YEAR 3,235,632 925,964


OTHER COMPREHENSIVE INCOME
Gain on revaluation 70,585 -
Income tax relating to other comprehensive
income

(17,646

)

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

52,939

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

3,288,571

925,964

Total comprehensive income attributable to:
Owners of the parent 3,288,571 925,964

PLJ Energy Ltd (Registered number: 09141043)

Consolidated Balance Sheet
31 January 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 7,574 14,306
Tangible assets 11 659,929 541,387
Investments 12 - -
Investment property 13 - -
667,503 555,693

CURRENT ASSETS
Stocks 14 23,207 51,249
Debtors 15 2,607,381 4,978,955
Cash at bank and in hand 6,772,450 1,253,760
9,403,038 6,283,964
CREDITORS
Amounts falling due within one year 16 3,238,995 3,293,203
NET CURRENT ASSETS 6,164,043 2,990,761
TOTAL ASSETS LESS CURRENT LIABILITIES 6,831,546 3,546,454

CREDITORS
Amounts falling due after more than one year 17 (323,330 ) (307,370 )

PROVISIONS FOR LIABILITIES 21 (33,500 ) -
NET ASSETS 6,474,716 3,239,084

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 23 6,474,616 3,238,984
SHAREHOLDERS' FUNDS 6,474,716 3,239,084

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mr C Edmonds - Director


PLJ Energy Ltd (Registered number: 09141043)

Company Balance Sheet
31 January 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 276,390 276,390
Investment property 13 500,000 429,415
776,390 705,805

CURRENT ASSETS
Debtors 15 1,843,498 1,577,757
Cash at bank 1,030,628 55,636
2,874,126 1,633,393
CREDITORS
Amounts falling due within one year 16 64,380 50,936
NET CURRENT ASSETS 2,809,746 1,582,457
TOTAL ASSETS LESS CURRENT LIABILITIES 3,586,136 2,288,262

CREDITORS
Amounts falling due after more than one year 17 (266,187 ) (275,806 )

PROVISIONS FOR LIABILITIES 21 (17,646 ) -
NET ASSETS 3,302,303 2,012,456

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 3,302,203 2,012,356
SHAREHOLDERS' FUNDS 3,302,303 2,012,456

Company's profit for the financial year 1,289,847 904,678

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mr C Edmonds - Director


PLJ Energy Ltd (Registered number: 09141043)

Consolidated Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 February 2022 100 2,487,500 2,487,600

Changes in equity
Dividends - (174,480 ) (174,480 )
Total comprehensive income - 925,964 925,964
Balance at 31 January 2023 100 3,238,984 3,239,084

Changes in equity
Total comprehensive income - 3,235,632 3,235,632
Balance at 31 January 2024 100 6,474,616 6,474,716

PLJ Energy Ltd (Registered number: 09141043)

Company Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 February 2022 100 1,282,158 1,282,258

Changes in equity
Dividends - (174,480 ) (174,480 )
Total comprehensive income - 904,678 904,678
Balance at 31 January 2023 100 2,012,356 2,012,456

Changes in equity
Total comprehensive income - 1,289,847 1,289,847
Balance at 31 January 2024 100 3,302,203 3,302,303

PLJ Energy Ltd (Registered number: 09141043)

Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 6,046,892 778,659
Interest paid (20,985 ) (14,742 )
Interest element of hire purchase payments
paid

(812

)

(578

)
Tax paid (321,203 ) (300,968 )
Net cash from operating activities 5,703,892 462,371

Cash flows from investing activities
Purchase of tangible fixed assets (87,787 ) (18,495 )
Sale of tangible fixed assets 34,293 -
Interest received 2,604 1,668
Net cash from investing activities (50,890 ) (16,827 )

Cash flows from financing activities
New HP's in year 48,756 -
Capital repayments in year (23,560 ) (21,659 )
Amount introduced by directors 3,430 177,840
Amount withdrawn by directors (162,938 ) (195,175 )
Equity dividends paid - (174,480 )
Net cash from financing activities (134,312 ) (213,474 )

Increase in cash and cash equivalents 5,518,690 232,070
Cash and cash equivalents at beginning of
year

2

1,253,760

1,021,690

Cash and cash equivalents at end of year 2 6,772,450 1,253,760

PLJ Energy Ltd (Registered number: 09141043)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£ £
Profit before taxation 4,329,868 1,147,167
Depreciation charges 36,350 35,566
Profit on disposal of fixed assets (24,081 ) -
Gain on revaluation of fixed assets (70,585 ) -
Finance costs 21,797 15,320
Finance income (2,604 ) (1,668 )
4,290,745 1,196,385
Decrease/(increase) in stocks 28,042 (45,528 )
Decrease/(increase) in trade and other debtors 2,531,082 (1,531,207 )
(Decrease)/increase in trade and other creditors (802,977 ) 1,159,009
Cash generated from operations 6,046,892 778,659

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31/1/24 1/2/23
£ £
Cash and cash equivalents 6,772,450 1,253,760
Year ended 31 January 2023
31/1/23 1/2/22
£ £
Cash and cash equivalents 1,253,760 1,021,690


PLJ Energy Ltd (Registered number: 09141043)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/2/23 Cash flow At 31/1/24
£ £ £
Net cash
Cash at bank and in hand 1,253,760 5,518,690 6,772,450
1,253,760 5,518,690 6,772,450
Debt
Finance leases (4,469 ) (43,271 ) (47,740 )
Debts falling due within 1 year (15,777 ) (1,516 ) (17,293 )
Debts falling due after 1 year (307,370 ) 19,591 (287,779 )
(327,616 ) (25,196 ) (352,812 )
Total 926,144 5,493,494 6,419,638

PLJ Energy Ltd (Registered number: 09141043)

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

1. STATUTORY INFORMATION

PLJ Energy Ltd 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PLJ Energy Ltd (Registered number: 09141043)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

PLJ Energy Ltd (Registered number: 09141043)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work,claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given
period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£ £
PV and Electrical 13,153,278 15,996,426
Mechanical 2,566,260 3,349,225
Maintenance 222,274 96,238
Design and Management Services - 186,423
15,941,812 19,628,312

PLJ Energy Ltd (Registered number: 09141043)

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

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

2024 2023
£ £
United Kingdom 15,941,812 19,628,312
15,941,812 19,628,312

4. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 1,201,462 859,490
Social security costs 401 219
Other pension costs 21,949 15,678
1,223,812 875,387

The average number of employees during the year was as follows:
2024 2023

Management 5 5
Office staff 14 8
Directly employed engineers 8 8
27 21

2024 2023
£ £
Directors' remuneration 11,904 11,514

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£ £
Depreciation - owned assets 25,469 26,391
Depreciation - assets on hire purchase contracts 4,149 2,443
Loss on disposal of fixed assets 1,936 -
Goodwill amortisation 6,732 6,733
Auditors' remuneration 12,000 -

PLJ Energy Ltd (Registered number: 09141043)

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

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Bank loan interest 921 1,157
Mortgage 20,064 13,585
Hire purchase 812 578
21,797 15,320

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 1,060,736 221,203

Deferred tax 33,500 -
Tax on profit 1,094,236 221,203

UK corporation tax has been charged at 25 % .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
Profit before tax 4,329,868 1,147,167
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

1,082,467

217,962

Effects of:
Expenses not deductible for tax purposes 38,116 3,184
Depreciation in excess of capital allowances 16,465 57
Change in tax rates (42,812 ) -
Total tax charge 1,094,236 221,203

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£ £ £
Gain on revaluation 70,585 (17,646 ) 52,939

PLJ Energy Ltd (Registered number: 09141043)

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

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£ £
Ordinary shares of £1 each
Interim - 174,480

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
COST
At 1 February 2023
and 31 January 2024 67,323
AMORTISATION
At 1 February 2023 53,017
Amortisation for year 6,732
At 31 January 2024 59,749
NET BOOK VALUE
At 31 January 2024 7,574
At 31 January 2023 14,306

PLJ Energy Ltd (Registered number: 09141043)

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

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST OR VALUATION
At 1 February 2023 429,415 40,745 25,315
Additions - 13,055 3,812
Disposals - (427 ) (353 )
Revaluations 70,585 - -
At 31 January 2024 500,000 53,373 28,774
DEPRECIATION
At 1 February 2023 - 33,214 12,625
Charge for year - 3,316 2,969
Eliminated on disposal - (381 ) (280 )
At 31 January 2024 - 36,149 15,314
NET BOOK VALUE
At 31 January 2024 500,000 17,224 13,460
At 31 January 2023 429,415 7,531 12,690

Motor Computer
vehicles equipment Totals
£ £ £
COST OR VALUATION
At 1 February 2023 98,854 66,790 661,119
Additions 64,594 6,326 87,787
Disposals (23,859 ) (9,654 ) (34,293 )
Revaluations - - 70,585
At 31 January 2024 139,589 63,462 785,198
DEPRECIATION
At 1 February 2023 44,623 29,270 119,732
Charge for year 15,263 8,070 29,618
Eliminated on disposal (16,041 ) (7,379 ) (24,081 )
At 31 January 2024 43,845 29,961 125,269
NET BOOK VALUE
At 31 January 2024 95,744 33,501 659,929
At 31 January 2023 54,231 37,520 541,387

PLJ Energy Ltd (Registered number: 09141043)

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

11. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 January 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Valuation in 2024 70,585 - -
Cost 429,415 53,373 28,774
500,000 53,373 28,774

Motor Computer
vehicles equipment Totals
£ £ £
Valuation in 2024 - - 70,585
Cost 139,589 63,462 714,613
139,589 63,462 785,198

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 429,415 429,415
Aggregate depreciation (12,882 ) (8,588 )

Freehold land and buildings were valued on an open market basis on 31 January 2024 by the director .

PLJ Energy Ltd (Registered number: 09141043)

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

11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST OR VALUATION
At 1 February 2023 23,859
Additions 64,594
Disposals (23,859 )
At 31 January 2024 64,594
DEPRECIATION
At 1 February 2023 14,086
Charge for year 4,149
Eliminated on disposal (16,041 )
At 31 January 2024 2,194
NET BOOK VALUE
At 31 January 2024 62,400
At 31 January 2023 9,773

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1 February 2023
and 31 January 2024 276,390
NET BOOK VALUE
At 31 January 2024 276,390
At 31 January 2023 276,390


PLJ Energy Ltd (Registered number: 09141043)

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

13. INVESTMENT PROPERTY - continued

13. INVESTMENT PROPERTY
Company
Total
£
FAIR VALUE
At 1 February 2023 429,415
Revaluations 70,585
At 31 January 2024 500,000
NET BOOK VALUE
At 31 January 2024 500,000
At 31 January 2023 429,415

Fair value at 31 January 2024 is represented by:
£
Valuation in 2024 70,585
Cost 429,415
500,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 429,415 429,415
Aggregate depreciation (12,882 ) (8,588 )

The investment property was valued on an open market basis on 31 January 2024 by the director .

14. STOCKS

Group
2024 2023
£ £
Stocks 23,207 51,249

PLJ Energy Ltd (Registered number: 09141043)

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

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Trade debtors 1,591,053 3,778,297 - -
Amounts owed by group undertakings - - 1,269,145 1,250,124
Other debtors 387,512 305,000 387,212 300,000
Directors' current accounts 187,141 27,633 187,141 27,633
Prepayments and accrued income 441,675 868,025 - -
2,607,381 4,978,955 1,843,498 1,577,757

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans and overdrafts (see note 18) 17,293 15,777 7,320 6,050
Hire purchase contracts (see note 19) 12,189 4,469 - -
Trade creditors 1,491,237 2,504,314 - -
Tax 960,736 221,203 43,305 36,300
Social security and other taxes 25,968 22,562 - -
CIS tax creditor 29,243 9,805 - -
VAT 131,592 295,449 6,954 6,787
Credit card 7,400 16,788 - -
Other creditors 4,715 8,775 - -
Accrued expenses 558,622 194,061 6,801 1,799
3,238,995 3,293,203 64,380 50,936

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans (see note 18) 287,779 307,370 266,187 275,806
Hire purchase contracts (see note 19) 35,551 - - -
323,330 307,370 266,187 275,806

PLJ Energy Ltd (Registered number: 09141043)

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

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£ £ £ £
Amounts falling due within one year or on demand:
Bank loans 17,293 15,777 7,320 6,050
Amounts falling due between one and two years:
Bank loans - 1-2 years 18,169 15,977 7,943 6,004
Amounts falling due between two and five years:
Bank loans - 2-5 years 39,490 42,847 28,124 21,256
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 230,120 248,546 230,120 248,546

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 12,189 4,469
Between one and five years 35,551 -
47,740 4,469

PLJ Energy Ltd (Registered number: 09141043)

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

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans 305,072 - 273,507 281,856
Hire purchase contracts 47,740 - - -
352,812 - 273,507 281,856

The loan is secured against the property held.

The Hire Purchase amounts which are owed are secured against the assets they relate to.

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£ £ £ £
Deferred tax 33,500 - 17,646 -

Group
Deferred tax
£
Charge to Income Statement during year 33,500
Balance at 31 January 2024 33,500

Company
Deferred tax
£
Provided during year 17,646
Balance at 31 January 2024 17,646

22. CALLED UP SHARE CAPITAL

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

PLJ Energy Ltd (Registered number: 09141043)

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

23. RESERVES

Group
Retained
earnings
£

At 1 February 2023 3,238,984
Profit for the year 3,235,632
At 31 January 2024 6,474,616

Company
Retained
earnings
£

At 1 February 2023 2,012,356
Profit for the year 1,289,847
At 31 January 2024 3,302,203


24. RELATED PARTY DISCLOSURES

At the year end, £300 (2023: NIL) was owed from a company under the common control of Mr C Edmonds.

25. POST BALANCE SHEET EVENTS

After the year end, an employee owned trust - Wes Employee Ownership Trustee Limited, acquired the shares in PLJ Energy Ltd.

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr C Edmonds.