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Registered number: 11780032
Microgrid Foundry Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 11780032
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 17,500
- 17,500
CURRENT ASSETS
Debtors 5 198 44,248
Cash at bank and in hand 2,753 57,697
2,951 101,945
Creditors: Amounts Falling Due Within One Year 6 (360 ) (12,244 )
NET CURRENT ASSETS (LIABILITIES) 2,591 89,701
TOTAL ASSETS LESS CURRENT LIABILITIES 2,591 107,201
NET ASSETS 2,591 107,201
CAPITAL AND RESERVES
Called up share capital 7 1,667 1,667
Share premium account 118,333 118,333
Profit and Loss Account (117,409 ) (12,799 )
SHAREHOLDERS' FUNDS 2,591 107,201
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Damon Rand
Director
08/02/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 April 2022 1,667 118,333 (7,638 ) 112,362
Loss for the year and total comprehensive income - - (5,161 ) (5,161)
As at 31 March 2023 and 1 April 2023 1,667 118,333 (12,799 ) 107,201
Loss for the year and total comprehensive income - - (14,610 ) (14,610)
Dividends paid - - (90,000) (90,000)
As at 31 March 2024 1,667 118,333 (117,409 ) 2,591
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Microgrid Foundry Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11780032 . The registered office is c/o Bristol Energy Cooperative, Brunswick Square , Bristol, BS2 8PE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets relate to the purchase of rights, model and business plan for the development and sale of Community Microgrids. They are amortised to the profit and loss account over the agreed economic life of ten years.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 29,167
Disposals (29,167 )
As at 31 March 2024 -
Amortisation
As at 1 April 2023 11,667
...CONTINUED
Page 4
Page 5
Provided during the period 2,541
Disposals (14,208 )
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 17,500
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 198 26,919
Prepayments and accrued income - 255
Other debtors - 10,000
VAT - 7,074
198 44,248
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 11,344
Accruals and deferred income 360 900
360 12,244
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,667 1,667
Page 5