REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024 |
FOR |
VERDENERGY (YORKSHIRE) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024 |
FOR |
VERDENERGY (YORKSHIRE) LTD |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 APRIL 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
BALANCE SHEET |
29 APRIL 2024 |
29.4.24 | 29.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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. |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
BALANCE SHEET - continued |
29 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 APRIL 2024 |
1. | STATUTORY INFORMATION |
Verdenergy (Yorkshire) Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 APRIL 2024 |
2. | 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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Plant and | Motor | Computer |
improvements | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 30 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 April 2024 |
DEPRECIATION |
At 30 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 April 2024 |
NET BOOK VALUE |
At 29 April 2024 |
At 29 April 2023 |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 APRIL 2024 |
5. | DEBTORS |
29.4.24 | 29.4.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Directors' current accounts | 7,000 | 7,000 |
Tax |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.4.24 | 29.4.23 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts (see note 8) |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' current accounts | 98,000 | 98,000 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.4.24 | 29.4.23 |
£ | £ |
Bank loans - 1-5 years |
Other loans - 1-5 years |
Hire purchase contracts (see note 8) |
VERDENERGY (YORKSHIRE) LTD (REGISTERED NUMBER: 09563853) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 APRIL 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
29.4.24 | 29.4.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
29.4.24 | 29.4.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
A director owed the company £7,000 (2023: £7,000) as at 29 April 2024. There are no repayment terms and no interest is charged by the company. |
10. | RELATED PARTY DISCLOSURES |
During the year the company made and received loans with connected companies under common ownership and control. These loans were of a short term nature and did not carry an interest charge, During the year, connected companies under common ownership and control recharged elements of shared costs to the company, these recharges amounted to £737,124 (2023: £596,684). |
During the year the company made sales to and purchases from a connected company under common control and ownership. The value of sales to this company amounted to £242,841 (2023: £268,924) and the total value of purchases from this company amounted to £1,417,873 (2023: £4,422,487). |
Balances due (to)/from related parties at the balance sheet date are shown below: |
29.4.24 | 29.4.23 |
Amounts due to related parties | £ | £ |
Amounts owed to connected companies | 440,681 | 1,145,736 |
Loans from shareholders | 98,000 | 98,000 |
======= | ======= |
Amounts due from related parties |
Amounts owed by connected companies | 950,940 | 1,300,764 |
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