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REGISTERED NUMBER: 08283531 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

New Stream Renewables Limited

New Stream Renewables Limited (Registered number: 08283531)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


New Stream Renewables Limited (Registered number: 08283531)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £ £
Fixed assets
Tangible assets 5 1,383 1,787

Current assets
Debtors 6 1,727,161 1,337,105
Cash at bank 464,688 104,646
2,191,849 1,441,751
Creditors
Amounts falling due within one year 7 (1,178,604 ) (368,284 )
Net current assets 1,013,245 1,073,467
Total assets less current liabilities 1,014,628 1,075,254

Creditors
Amounts falling due after more than
one year

8

(19,170

)

(29,170

)

Provisions for liabilities (346 ) (340 )
Net assets 995,112 1,045,744

New Stream Renewables Limited (Registered number: 08283531)

Balance Sheet - continued
30 November 2023

30.11.23 30.11.22
Notes £ £
Capital and reserves
Called up share capital 210 210
Retained earnings 994,902 1,045,534
995,112 1,045,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





Mr C P Ward - Director


New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. Statutory information

New Stream Renewables Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08283531

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Going Concern
The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and have therefore accordingly prepared these financial statements on a going concern basis.

New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued

Critical accounting judgements and key estimates
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See notes to the accounts for the carrying amount of tangible assets and the useful economic lives for each class of assets.

(ii) Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with the previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

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

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is stated net of discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover from a sale can be recognised:

Turnover from the sale of electricity and gas is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods), the amount of turnover can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover from the provision of energy consultancy and reporting related services is recognised when the service has been completed according to the job requirement, whereby at this point, the turnover can be measured reliably, it is probable that economic benefits will flow to the entity and the costs in respect of the transaction can be measured reliably.

New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% p.a. reducing balance
Computer equipment - 25% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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

4. Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 December 2022
and 30 November 2023 872 7,271 8,143
Depreciation
At 1 December 2022 436 5,920 6,356
Charge for year 65 339 404
At 30 November 2023 501 6,259 6,760
Net book value
At 30 November 2023 371 1,012 1,383
At 30 November 2022 436 1,351 1,787

6. Debtors: amounts falling due within one year
30.11.23 30.11.22
£ £
Trade debtors 324,001 77,073
Other debtors 1,403,160 1,260,032
1,727,161 1,337,105

7. Creditors: amounts falling due within one year
30.11.23 30.11.22
£ £
Bank loans and overdrafts 10,000 10,001
Trade creditors 7,435 29,679
Taxation and social security 885,173 324,956
Other creditors 275,996 3,648
1,178,604 368,284

8. Creditors: amounts falling due after more than one year
30.11.23 30.11.22
£ £
Bank loans 19,170 29,170

New Stream Renewables Limited (Registered number: 08283531)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.23 30.11.22
£ £
Within one year 7,010 7,010
Between one and five years 4,081 11,091
11,091 18,101

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£ £
Mr G Goodall
Balance outstanding at start of year 633,262 490,428
Amounts advanced 13,765 182,633
Amounts repaid (42,917 ) (39,799 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 604,110 633,262

Mr C P Ward
Balance outstanding at start of year 535,068 404,561
Amounts advanced 11,139 193,893
Amounts repaid (99,394 ) (63,386 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 446,813 535,068

Interest has been charged at the official rate of interest on the balance of the directors loan accounts, there is no fixed date for repayment.

11. Related party disclosures

No transactions were undertaken with the directors or related parties such as are required to be disclosed under the Financial Reporting Standard 102, Section 1A.