Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3143false2023-04-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13208286 2023-04-01 2024-03-31 13208286 2022-04-01 2023-03-31 13208286 2024-03-31 13208286 2023-03-31 13208286 c:Director1 2023-04-01 2024-03-31 13208286 d:CurrentFinancialInstruments 2024-03-31 13208286 d:CurrentFinancialInstruments 2023-03-31 13208286 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13208286 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13208286 d:RetainedEarningsAccumulatedLosses 2024-03-31 13208286 d:RetainedEarningsAccumulatedLosses 2023-03-31 13208286 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 13208286 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 13208286 c:FRS102 2023-04-01 2024-03-31 13208286 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13208286 c:FullAccounts 2023-04-01 2024-03-31 13208286 c:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 13208286 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 13208286














UNDERGROUND ENERGY STORAGE OPERATORS LIMITED
(A Company Limited by Guarantee)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
UNDERGROUND ENERGY STORAGE OPERATORS LIMITED
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:13208286

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note

  

Current assets
  

Cash at bank and in hand
 4 
20,064
1,645

  

Creditors: amounts falling due within one year
 5 
(13,741)
(823)

Net current assets
  
 
 
6,323
 
 
822

Net assets
  
£6,323
£822


Capital and reserves
  

Profit and loss account
  
6,323
822

  
£6,323
£822


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 July 2024.




___________________________
Mr N M Wye
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
UNDERGROUND ENERGY STORAGE OPERATORS LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Underground Energy Storage Operators Limited is a private limited company by guarantee, incorporated in England and Wales. The company registration number is 13208286.
The registered office and principal place of business of the company is 13 Thornton Hill, London, SW19 4HU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
UNDERGROUND ENERGY STORAGE OPERATORS LIMITED
 
(A Company Limited by Guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
20,064
1,645

£20,064
£1,645


Page 3

 
UNDERGROUND ENERGY STORAGE OPERATORS LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Creditors: Amounts falling due within one year

2024
2023

Corporation tax
1,290
193

Accruals and deferred income
12,451
630

£13,741
£823



6.


Financial instruments

2024
2023

Financial assets


Financial assets measured at fair value through profit or loss
£20,064
£1,645




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.



7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


Page 4