Registration number:
Exceed NRG UK Limited
for the Period from 2 May 2023 to 31 May 2024
Exceed NRG UK Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Exceed NRG UK Limited
Company Information
Directors |
Mr D Smith Mr J Barbara |
Registered office |
|
Exceed NRG UK Limited
(Registration number: 14839856)
Balance Sheet as at 31 May 2024
Note |
2024 |
|
Fixed assets |
||
Tangible assets |
|
|
Current assets |
||
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Total assets less current liabilities |
( |
|
Provisions for liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
100 |
|
Retained earnings |
(3,304) |
|
Shareholders' deficit |
(3,204) |
For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Exceed NRG UK Limited
(Registration number: 14839856)
Balance Sheet as at 31 May 2024
......................................... |
......................................... |
Exceed NRG UK Limited
Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 entity.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
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.
Exceed NRG UK Limited
Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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:
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.
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Exceed NRG UK Limited
Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Exceed NRG UK Limited
Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024
Tangible assets |
Motor vehicles |
Other tangible assets |
Total |
|
Cost or valuation |
|||
Additions |
|
|
|
At 31 May 2024 |
|
|
|
Depreciation |
|||
Charge for the period |
|
|
|
At 31 May 2024 |
|
|
|
Carrying amount |
|||
At 31 May 2024 |
|
|
|
Stocks |
2024 |
|
Other inventories |
|
Debtors |
Current |
2024 |
Trade debtors |
|
Other debtors |
|
|
Exceed NRG UK Limited
Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
|
Due within one year |
|
Trade creditors |
|
Taxation and social security |
|
Accruals and deferred income |
|
Other creditors |
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
||
No. |
£ |
|
100 Ordinary shares of £1 each |
100 |
100 |
Related party transactions |
Other transactions with directors |
At the balance sheet date, the company owed £8,964 to Mr J Barbara, a director of the company. This loan is interest free and repayable on demand.
At the balance sheet date, the company owed £8,836 to Mr D Smith, a director of the company. This loan is interest free and repayable on demand.