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REGISTERED NUMBER: SC332271 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

NRG Well Management Limited

NRG Well Management Limited (Registered number: SC332271)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

NRG Well Management Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A S Mackay
D Mackay





REGISTERED OFFICE: 1 St. Devenicks Place
Cults
ABERDEEN
AB15 9LN





REGISTERED NUMBER: SC332271 (Scotland)





ACCOUNTANTS: Atholl Scott
Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB

NRG Well Management Limited (Registered number: SC332271)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Debtors 6 707,151 515,267
Cash at bank 54,030 97,111
761,181 612,378
CREDITORS
Amounts falling due within one
year

7

(417,801

)

(490,361

)
NET CURRENT ASSETS 343,380 122,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,380

122,017

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 342,880 121,517
SHAREHOLDERS' FUNDS 343,380 122,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 November 2024 and were signed on its behalf by:




A S Mackay - Director



D Mackay - Director


NRG Well Management Limited (Registered number: SC332271)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

NRG Well Management Limited is a private company, limited by shares , registered in Scotland. 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 represents amounts receivable for services rendered during the year, exclusive of value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


NRG Well Management Limited (Registered number: SC332271)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 May 2023
and 30 April 2024 64,022
AMORTISATION
At 1 May 2023
and 30 April 2024 64,022
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023
and 30 April 2024 4,102
DEPRECIATION
At 1 May 2023
and 30 April 2024 4,102
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 600,414 515,267
Amounts owed by group undertakings 106,737 -
707,151 515,267

NRG Well Management Limited (Registered number: SC332271)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 278,365 330,279
Amounts owed to group undertakings 120,000 140,000
VAT 19,435 20,081
Accrued expenses 1 1
417,801 490,361



8. RELATED PARTY DISCLOSURES

During the year NRG Holdings Limited (parent company) decreased the amount loaned to the company by £20,000 leaving a balance of £120,000 (2023 £140,000). This loan is unsecured, interest free and repayable on demand.

During the year the company (director) made a loan to NRG Well Examination Ltd (a company under common control) of £33,737 and the balance at the year end was £33,737 This loan is unsecured, interest free and repayable on demand.

During the year the company (director) made a loan to NRG Well Management International Ltd (a company under common control) of £73,000 and the balance at the year end was £73,000. This loan is unsecured, interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is NRG Holdings Limited.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
NRG Well Management Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 NRG Well Management Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of NRG Well Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NRG Well Management Limited and state those matters that we have agreed to state to the Board of Directors of NRG Well Management Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NRG Well Management 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 NRG Well Management Limited. You consider that NRG Well Management 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 NRG Well Management 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.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.






Atholl Scott
Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB


14 November 2024