Company registration number 06785709 (England and Wales)
Energy Plus Management Ltd
Unaudited financial statements
For the year ended 31 December 2023
Energy Plus Management Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Energy Plus Management Ltd
Statement of financial position
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
448
2,615
Current assets
Debtors
4
37,281
4,777
Cash at bank and in hand
5,208
18,501
42,489
23,278
Creditors: amounts falling due within one year
5
(51,957)
(22,401)
Net current (liabilities)/assets
(9,468)
877
Total assets less current liabilities
(9,020)
3,492
Creditors: amounts falling due after more than one year
6
(19,318)
(22,619)
Provisions for liabilities
(262)
Net liabilities
(28,338)
(19,389)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(28,438)
(19,489)
Total equity
(28,338)
(19,389)
Energy Plus Management Ltd
Statement of financial position (continued)
As at 31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 13 November 2024 and are signed on its behalf by:
Mr P N Dickinson
Director
Company registration number 06785709 (England and Wales)
Energy Plus Management Ltd
Notes to the financial statements
For the year ended 31 December 2023
- 3 -
1
Accounting policies
Company information
Energy Plus Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 537 Halifax Road, Liversedge, West Yorkshire, England, WF15 8HL.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements show a loss in the current year and the balance sheet has net liabilities. The directors however have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The truefinancial statements are therefore prepared on the going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance
Fixtures and fittings
25% Reducing balance
Computers
33% 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.
Energy Plus Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Classification of financial liabilities
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 company after deducting all of its liabilities.
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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Energy Plus Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Leases
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.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
4,784
Additions
416
Disposals
(4,047)
At 31 December 2023
1,153
Depreciation and impairment
At 1 January 2023
2,169
Depreciation charged in the year
307
Eliminated in respect of disposals
(1,771)
At 31 December 2023
705
Carrying amount
At 31 December 2023
448
At 31 December 2022
2,615
Energy Plus Management Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
26,650
2,190
Other debtors
10,631
2,587
37,281
4,777
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,300
10,845
Trade creditors
41,987
8,525
Taxation and social security
434
Other creditors
6,670
2,597
51,957
22,401
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,318
22,619
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
6,118
9,418
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:
2023
2022
£
£
7,390
14,639