Company registration number 13225539 (England and Wales)
Smart Energy Plus Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Pages For Filing With Registrar
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
Smart Energy Plus Limited
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Smart Energy Plus Limited
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF SMART ENERGY PLUS LIMITED
- 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 Smart Energy Plus Limited for the year ended 29 February 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
Our work has been undertaken solely to prepare for your approval the financial statements of Smart Energy Plus Limited and state those matters that we have agreed to state to the board of directors of Smart Energy Plus Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smart Energy Plus Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Smart Energy Plus 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 profit of Smart Energy Plus Limited. You consider that Smart Energy Plus 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 Smart Energy Plus 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.
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
30 October 2024
Smart Energy Plus Limited
BALANCE SHEET
As At 29 February 2024
- 2 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,215
36,691
Current assets
Debtors
4
28,021
81,408
Cash at bank and in hand
7,706
16,961
35,727
98,369
Creditors: amounts falling due within one year
5
(34,851)
(72,153)
Net current assets
876
26,216
Total assets less current liabilities
61,091
62,907
Creditors: amounts falling due after more than one year
6
(46,764)
(19,442)
Net assets
14,327
43,465
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
14,227
43,365
Total equity
14,327
43,465
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 year ended 29 February 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 members have not required the company to obtain an audit of its financial statements for the year 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 30 October 2024
..............................................
Mr C Ward
Director
Company registration number 13225539 (England and Wales)
Smart Energy Plus Limited
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024
- 3 -
1
Accounting policies
Company information
Smart Energy Plus Limited is a private company limited by shares incorporated in England and Wales. The registered office is Handel House, 95 High Street, Edgware, HA8 7DB.
1.1
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Fixtures and fittings
20% Straight line
Motor vehicles
20% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Basic financial assets
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.
1.5
Taxation
Smart Energy Plus Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 29 February 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.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 March 2023
5,967
48,995
54,962
Additions
1,948
41,198
43,146
At 29 February 2024
7,915
90,193
98,108
Depreciation and impairment
At 1 March 2023
2,073
16,198
18,271
Depreciation charged in the year
1,583
18,039
19,622
At 29 February 2024
3,656
34,237
37,893
Carrying amount
At 29 February 2024
4,259
55,956
60,215
At 28 February 2023
3,894
32,797
36,691
Smart Energy Plus Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 29 February 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,996
81,408
Other debtors
3,025
28,021
81,408
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
14,549
8,567
Corporation tax
5,072
24,286
Other taxation and social security
11,939
14,916
Other creditors
3,291
23,734
Accruals and deferred income
650
34,851
72,153
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
46,764
19,442
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
20,660
3,306