0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,790,709 8,665 1,799,374 445,560 89,969 535,529 1,263,845 1,345,149 xbrli:pure xbrli:shares iso4217:GBP SC510658 2023-08-01 2024-07-31 SC510658 2024-07-31 SC510658 2023-07-31 SC510658 2022-08-01 2023-07-31 SC510658 2023-07-31 SC510658 2022-07-31 SC510658 core:PlantMachinery 2023-08-01 2024-07-31 SC510658 bus:Director1 2023-08-01 2024-07-31 SC510658 core:PlantMachinery 2023-07-31 SC510658 core:PlantMachinery 2024-07-31 SC510658 core:WithinOneYear 2024-07-31 SC510658 core:WithinOneYear 2023-07-31 SC510658 core:AfterOneYear 2024-07-31 SC510658 core:AfterOneYear 2023-07-31 SC510658 core:ShareCapital 2024-07-31 SC510658 core:ShareCapital 2023-07-31 SC510658 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC510658 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC510658 core:PlantMachinery 2023-07-31 SC510658 bus:SmallEntities 2023-08-01 2024-07-31 SC510658 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC510658 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC510658 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC510658 bus:FullAccounts 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: SC510658
Ormiston Energy Ltd
Filleted Unaudited Financial Statements
31 July 2024
Ormiston Energy Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
1,263,845
1,345,149
Current assets
Debtors
5
133,607
80,716
Cash at bank and in hand
307,870
478,131
---------
---------
441,477
558,847
Creditors: amounts falling due within one year
6
1,296,685
1,569,310
------------
------------
Net current liabilities
855,208
1,010,463
------------
------------
Total assets less current liabilities
408,637
334,686
Creditors: amounts falling due after more than one year
7
12,038
20,536
---------
---------
Net assets
396,599
314,150
---------
---------
Capital and reserves
Called up share capital
3
3
Profit and loss account
396,596
314,147
---------
---------
Shareholders funds
396,599
314,150
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ormiston Energy Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 17 January 2025 , and are signed on behalf of the board by:
Mr A W Simmers
Director
Company registration number: SC510658
Ormiston Energy Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mains of Bogfechel, Whiterashes, Aberdeen, AB21 0QU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5% straight line
4. Tangible assets
Plant and machinery
£
Cost
At 1 August 2023
1,790,709
Additions
8,665
------------
At 31 July 2024
1,799,374
------------
Depreciation
At 1 August 2023
445,560
Charge for the year
89,969
------------
At 31 July 2024
535,529
------------
Carrying amount
At 31 July 2024
1,263,845
------------
At 31 July 2023
1,345,149
------------
5. Debtors
2024
2023
£
£
Trade debtors
76,735
36,606
Other debtors
56,872
44,110
---------
--------
133,607
80,716
---------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,498
8,498
Trade creditors
3,908
9,172
Social security and other taxes
2,864
Scotfarms loan
240,310
240,310
Other creditors
1,043,969
1,308,466
------------
------------
1,296,685
1,569,310
------------
------------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,038
20,536
--------
--------