2 2 Acacia Energy Ltd 07377580 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is energy consultants. Digita Accounts Production Advanced 6.30.9574.0 true true 07377580 2023-04-01 2024-03-31 07377580 2024-03-31 07377580 bus:OrdinaryShareClass1 2024-03-31 07377580 bus:OrdinaryShareClass2 2024-03-31 07377580 core:CurrentFinancialInstruments 2024-03-31 07377580 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07377580 core:Non-currentFinancialInstruments 2024-03-31 07377580 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07377580 core:FurnitureFittingsToolsEquipment 2024-03-31 07377580 bus:SmallEntities 2023-04-01 2024-03-31 07377580 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07377580 bus:FilletedAccounts 2023-04-01 2024-03-31 07377580 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07377580 bus:RegisteredOffice 2023-04-01 2024-03-31 07377580 bus:Director2 2023-04-01 2024-03-31 07377580 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07377580 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 07377580 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07377580 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07377580 core:VehiclesPlantMachinery 2023-04-01 2024-03-31 07377580 countries:EnglandWales 2023-04-01 2024-03-31 07377580 2022-04-01 2023-03-31 07377580 2023-03-31 07377580 bus:OrdinaryShareClass1 2023-03-31 07377580 bus:OrdinaryShareClass2 2023-03-31 07377580 core:CurrentFinancialInstruments 2023-03-31 07377580 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07377580 core:Non-currentFinancialInstruments 2023-03-31 07377580 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07377580

Acacia Energy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Acacia Energy Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Acacia Energy Ltd

(Registration number: 07377580)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,492

-

Current assets

 

Debtors

5

39,523

-

Cash at bank and in hand

 

55,215

138,890

 

94,738

138,890

Creditors: Amounts falling due within one year

6

(226,184)

(186,926)

Net current liabilities

 

(131,446)

(48,036)

Total assets less current liabilities

 

(106,954)

(48,036)

Creditors: Amounts falling due after more than one year

6

(9,454)

(13,519)

Net liabilities

 

(116,408)

(61,555)

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

(116,508)

(61,655)

Shareholders' deficit

 

(116,408)

(61,555)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
A Apter
Director

 

Acacia Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Great Queen Street
Covent Garden
London
WC2B 5AH
United Kingdom

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

 

Acacia Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has received a letter of financial support from its ultimate beneficial owner confirming that financial support will continue for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved.

Revenue recognition

Turnover comprises 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 shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Acacia Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Acacia Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

35,200

35,200

At 31 March 2024

35,200

35,200

Depreciation

Charge for the year

10,708

10,708

At 31 March 2024

10,708

10,708

Carrying amount

At 31 March 2024

24,492

24,492

5

Debtors

Current

2024
£

2023
£

Other debtors

39,523

-

 

39,523

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,654

6,489

Taxation and social security

 

236

3,668

Accruals and deferred income

 

2,800

2,800

Other creditors

 

217,494

173,969

 

226,184

186,926

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

9,454

13,519

 

Acacia Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

70

70

70

70

Ordinary B Shares of £1 each

30

30

30

30

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,454

13,519

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,654

6,489


Bank borrowings
The company has a loan of £15,108 (2023:£20,008) under the Bounce Back Loan Scheme. The loan is repayable by 2026 and incurs a fixed rate of interest of 2.5% per annum. The interest for the first 12 months is covered by the Business Interruption Payment.