Company registration number 06038008 (England and Wales)
ENERGY SYSTEMS (SW) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
ENERGY SYSTEMS (SW) LIMITED
COMPANY INFORMATION
Directors
Mr S Fice
Mrs N Fice
Secretary
Mrs N Fice
Company number
06038008
Registered office
Unit 5
Dunsmore
Silverton
Exeter
Devon
EX5 4DU
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
ENERGY SYSTEMS (SW) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ENERGY SYSTEMS (SW) LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
86,893
61,096
Current assets
Stocks
20,338
22,917
Debtors
4
109,868
116,037
Cash at bank and in hand
59,796
154,589
190,002
293,543
Creditors: amounts falling due within one year
5
(136,927)
(218,419)
Net current assets
53,075
75,124
Total assets less current liabilities
139,968
136,220
Creditors: amounts falling due after more than one year
6
(34,222)
(17,137)
Provisions for liabilities
(16,510)
(14,260)
Net assets
89,236
104,823
Capital and reserves
Called up share capital
100
100
Retained earnings
89,136
104,723
Total equity
89,236
104,823
ENERGY SYSTEMS (SW) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 February 2025 and are signed on its behalf by:
Mr S Fice
Mrs N Fice
Director
Director
Company Registration No. 06038008
ENERGY SYSTEMS (SW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Energy Systems (SW) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5, Dunsmore, Silverton, Exeter, Devon, EX5 4DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% on cost
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% on cost
Motor vehicles
25% reducing balance
ENERGY SYSTEMS (SW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ENERGY SYSTEMS (SW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
10
ENERGY SYSTEMS (SW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2023
4,955
176,891
181,846
Additions
-
0
55,465
55,465
At 31 May 2024
4,955
232,356
237,311
Depreciation and impairment
At 1 June 2023
4,855
115,895
120,750
Depreciation charged in the year
37
29,631
29,668
At 31 May 2024
4,892
145,526
150,418
Carrying amount
At 31 May 2024
63
86,830
86,893
At 31 May 2023
100
60,996
61,096
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50,223
76,663
Other debtors
59,645
39,374
109,868
116,037
ENERGY SYSTEMS (SW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,151
7,997
Trade creditors
42,806
76,978
Taxation and social security
21,307
75,935
Other creditors
64,663
57,509
136,927
218,419
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,615
17,137
Other creditors
23,607
-
0
34,222
17,137
7
Related party transactions

Included in other creditors are amounts owed to the directors of £14,590. The loans are interest free and carry no fixed terms of repayment.

2024-05-312023-06-01false24 February 2025CCH SoftwareCCH Accounts Production 2024.210The principal activity during the year was that of energy equipment installation.
Mr S FiceMrs N FiceMrs N Ficefalsefalse
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