Principal Risks
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Nature and Impact
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Mitigation
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Strategic risk
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Government regulation changes to the effect that a different funding model is developed for tackling fuel poverty and energy efficiency that does not play to the Company’s strengths, or funding is ceased or withdrawn in key areas.
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Continuous communication with government and relevant stakeholders including DESNZ and Ofgem, as well as diversification of funding partners and operations.
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Key-person dependency in senior management and other critical areas of the business.
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Active succession planning, resource planning, investment in training and development.
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Commercial risk
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Key customer goes out of business or ceases to work with the Group.
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Diversification of customer base, diversification of operations, strong relationship management, robust contractual terms.
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Supplier market price movements result in margin pressure.
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Back-to-back contracting, monitoring market intelligence, ensuring contracts are appropriate length.
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Operational risk
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Data breach or mishandling of customer data.
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Clear data handling policy established and regularly reviewed, and compliance monitoring.
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IT security or systems failure.
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Staff training, investment in IT
support, penetration testing, external reviews.
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Director
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31 October 2024
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Resigned |
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Resigned |
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Appointed |
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Appointed |
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||
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||
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Resigned |
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Appointed |
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Appointed |
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Director
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for and on behalf of
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|
The Mill
Pury Hill Business Park
Towcester
NN12 7LS
|
31 March 2024 | 30 September 2023 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER |
|
|
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
OPERATING (LOSS)/PROFIT |
( |
|
||
Exceptional items | (186,847) | (645,000) | ||
Income from Shares in group undertakings |
|
|
||
Interest payable and similar charges | 6 |
( |
( |
|
PROFIT BEFORE TAXATION |
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||
Tax on Profit | 7 |
|
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE PERIOD | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
|
|
||
31 March 2024 | 30 September 2023 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 8 |
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||
|
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||||
CURRENT ASSETS | |||||
Debtors | 9 |
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||
Cash at bank and in hand |
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|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 10 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 11 |
( |
( |
||
NET ASSETS |
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|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 13 |
|
|
||
Share premium account |
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|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 11,479,721 | 14,461,896 | |||
Director
|
Director
|
|
Share Capital | Share Premium | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 October 2022 |
|
|
|
12,262,547 |
Profit for the year and total comprehensive income | - | - |
|
2,199,349 |
As at 30 September 2023 and 1 October 2023 |
|
|
|
14,461,896 |
Profit for the period and total comprehensive income | - | - |
|
2,017,825 |
Dividends paid | - | - | (5,000,000) | (5,000,000) |
As at 31 March 2024 |
|
|
|
11,479,721 |
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Dividends from shares in subsidiaries |
|
|
|
Interest from subsidiaries |
|
|
|
3,141,019 | 3,823,013 | ||
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Interest payable to group undertakings |
|
|
|
Preference share dividends (interest) |
|
|
|
577,382 | 1,000,273 | ||
The tax charge on the profit for the period was as follows:
|
|||||
Tax Rate | 31 March 2024 | 30 September 2023 | |||
---|---|---|---|---|---|
31 March 2024 | 30 September 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 22.0% |
|
|
|
Prior period adjustment |
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|
|||
|
|
||||
Total tax charge for the period |
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|
|||
The actual charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
|
|||||
31 March 2024 | 30 September 2023 | ||||
£ | £ | ||||
Profit before tax | 2,017,825 | 2,231,926 | |||
Tax on profit at 25% (UK standard rate) |
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|
|||
Expenses not deductible for tax purposes |
|
|
|||
Prior period adjustment |
|
|
|||
Dividends from companies |
( |
( |
|||
Group relief |
|
|
|||
Total tax charge for the period | - | 32,577 | |||
Subsidiaries | |
---|---|
£ | |
Cost | |
As at 1 October 2023 |
|
As at 31 March 2024 |
|
Provision | |
As at 1 October 2023 |
|
As at 31 March 2024 |
|
Net Book Value | |
As at 31 March 2024 |
|
As at 1 October 2023 |
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
Abel Smith House Gunnels Wood Road Stevenage SG1 2ST |
|
|
- |
|
Abel Smith House Gunnels Wood Road Stevenage SG1 2ST |
|
|
100.00% |
|
Abel Smith House Gunnels Wood Road Stevenage SG1 2ST |
|
|
100.00% |
|
Abel Smith House Gunnels Wood Road Stevenage SG1 2ST |
|
|
100.00% |
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Amounts owed by group undertakings | 3,500 | 2,293 | |
Other debtors | 12,698 | 25,961 | |
|
|
||
Due after more than one year | |||
Amounts owed by group undertakings | 1,089,117 | 1,073,098 | |
|
|
||
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Trade creditors | - |
|
|
Amounts owed to group undertakings |
|
|
|
Amounts owed to participating interests |
|
|
|
Other creditors | 291,294 | - | |
Corporation tax |
|
|
|
Taxation and social security | 53,943 | 4,208 | |
Accruals and deferred income | - |
|
|
|
|
||
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Redeemable preference shares |
|
|
|
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
Amounts falling due between one and five years: | |||
Other loans |
|
|
|
31 March 2024 | 30 September 2023 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|