Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
103,009 | 104,795 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
2,025 | 4,408 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (98,920) | (93,734) | ||
Total assets less current liabilities | 4,089 | 11,061 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Share premium account |
|
|
||
Profit and loss account | (
|
(
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of IonizingEnergy Limited (registered number:
D J Leeming
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
IonizingEnergy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company is developing renewable technology to convert waste product into fuel. The technology is currently still under development. The company is being financed by loans from the directors and companies under common control. The directors have confirmed that further funding will continue to be available for at least 12 months from the date of signing these financial statements and until finalisation of the technology. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Other intangible assets | not amortised |
Plant and machinery etc. |
|
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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
|
|
|
At 30 April 2024 |
|
|
|
Accumulated amortisation | |||
At 01 May 2023 |
|
|
|
At 30 April 2024 |
|
|
|
Net book value | |||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
|
|
|
At 30 April 2024 |
|
|
|
Accumulated depreciation | |||
At 01 May 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 30 April 2024 |
|
|
|
Net book value | |||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Other debtors |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Other creditors |
|
|
|
|
|
Transactions with the entity's directors
Advances
At 1 May 2023, the balance owed by a director was £404. During the year, £Nil was advanced to the director, and £404 was repaid by the director. At 30 April 2024, the balance owed by the director was £Nil.
At 1 May 2022, the balance owed by a director was £404. During the year, £Nil was advanced to the director, and £Nil was repaid by the director. At 30 April 2023, the balance owed by the director was £404.