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REGISTERED NUMBER: NI642629 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Glenhoy Energy Limited

Glenhoy Energy Limited (Registered number: NI642629)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glenhoy Energy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs A Robson
Mr J Robson





REGISTERED OFFICE: 27 Glenhoy Road
AUGHER
Co. Tyrone
BT77 0DG





REGISTERED NUMBER: NI642629 (Northern Ireland)





ACCOUNTANTS: Gildernew & Co Ltd
Six Northland Row
DUNGANNON
Co. Tyrone
BT71 6AW

Glenhoy Energy Limited (Registered number: NI642629)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 341,577 298,190

CURRENT ASSETS
Debtors 5 29,356 86,701
Cash at bank and in hand 17,530 2,098
46,886 88,799
CREDITORS
Amounts falling due within one year 6 123,637 229,163
NET CURRENT LIABILITIES (76,751 ) (140,364 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,826

157,826

CREDITORS
Amounts falling due after more than one
year

7

301,879

291,142
NET LIABILITIES (37,053 ) (133,316 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (37,253 ) (133,516 )
(37,053 ) (133,316 )

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

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

The directors acknowledge their 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.

Glenhoy Energy Limited (Registered number: NI642629)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




Mrs A Robson - Director



Mr J Robson - Director


Glenhoy Energy Limited (Registered number: NI642629)

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


1. STATUTORY INFORMATION

Glenhoy Energy Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 each asset over its estimated useful life.
-Plant and machinery - 5% straight line
-Motor vehicle - 20% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Glenhoy Energy Limited (Registered number: NI642629)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 299,000 19,083 318,083
Additions 2,500 88,131 90,631
Disposals - (19,083 ) (19,083 )
At 31 March 2024 301,500 88,131 389,631
DEPRECIATION
At 1 April 2023 16,076 3,817 19,893
Charge for year 14,352 17,626 31,978
Eliminated on disposal - (3,817 ) (3,817 )
At 31 March 2024 30,428 17,626 48,054
NET BOOK VALUE
At 31 March 2024 271,072 70,505 341,577
At 31 March 2023 282,924 15,266 298,190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,813 47,301
Other debtors 5,543 39,400
29,356 86,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,921 9,687
Hire purchase contracts 69,620 40,951
Trade creditors 30 38,434
Amounts owed to related parties 43,066 -
VAT - 4,241
Other creditors - 135,000
Accrued expenses 1,000 850
123,637 229,163

Glenhoy Energy Limited (Registered number: NI642629)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 13,310 9,687
Bank loans - 2-5 years - 13,780
Hire purchase contracts 109,623 92,836
Directors' loan accounts 178,946 174,839
301,879 291,142