2023-06-012024-05-312024-05-31false12633968NERG HOLDINGS 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NERG HOLDINGS LTD

Registered Number
12633968
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

NERG HOLDINGS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Mr S C Robertson
Mrs J Robertson

Registered Address

Willow Tree Farm Water Lane
Bassingham
Lincoln
LN5 9LA

Registered Number

12633968 (England and Wales)
NERG HOLDINGS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets310,00911,775
Investments4796,773796,773
806,782808,548
Current assets
Debtors511,253-
Cash at bank and on hand1,777,0961,056,448
1,788,3491,056,448
Creditors amounts falling due within one year6(1,398,921)(832,018)
Net current assets (liabilities)389,428224,430
Total assets less current liabilities1,196,2101,032,978
Net assets1,196,2101,032,978
Capital and reserves
Called up share capital1,0001,000
Other reserves230,794230,794
Profit and loss account964,416801,184
Shareholders' funds1,196,2101,032,978
The financial statements were approved and authorised for issue by the Board of Directors on 24 February 2025, and are signed on its behalf by:
Mr S C Robertson
Director
Registered Company No. 12633968
NERG HOLDINGS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from rendering of services
Revenue 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.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. The Company has two 100% owned subsidiaries NerG Limited and Midlands Energy Solutions Limited. The registered offices for both subsidiaries is 12 Tentercroft Street, Lincoln, LN5 7DB. NerG Limited- The principal activity is the provision of commercial biomass boilers, heater and combined heat and power installation, servicing and fuel supply. Midland Energy Solutions Limited- The principal activity is a dormant Company.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 June 2312,00012,000
At 31 May 2412,00012,000
Depreciation and impairment
At 01 June 23225225
Charge for year1,7661,766
At 31 May 241,9911,991
Net book value
At 31 May 2410,00910,009
At 31 May 2311,77511,775
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 June 23796,773796,773
At 31 May 24796,773796,773
Net book value
At 31 May 24796,773796,773
At 31 May 23796,773796,773

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Other debtors11,253-
Total11,253-
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security-72,365
Other creditors1,398,921759,653
Total1,398,921832,018