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Registered number: 02742195










CG BIOGAS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
CG BIOGAS LTD
REGISTERED NUMBER:02742195

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
374,929
374,929

Current assets
  

Cash at bank and in hand
  
5
5

Creditors: amounts falling due within one year
 5 
(47,687)
(47,687)

Net current liabilities
  
 
 
(47,682)
 
 
(47,682)

Total assets less current liabilities
  
327,247
327,247

Creditors: amounts falling due after more than one year
 6 
(373,131)
(373,131)

  

Net liabilities
  
(45,884)
(45,884)


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
(46,384)
(46,384)

  
(45,884)
(45,884)


Page 1

 
CG BIOGAS LTD
REGISTERED NUMBER:02742195
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

For the year ended 31 May 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr N J Collett
Director

Date: 27 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CG BIOGAS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

CG Biogas Ltd (“the Company”) is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information.
The functional and presentational currency of the company is pounds sterling (£) and rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

  
2.2

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost.
The company’s freehold property is held for sale and consequently it is stated in the financial statements at the lower of amortised cost and its estimated realisable value. No depreciation is charged on the property as it is held for resale.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors, parent company and related companies. The financial statements do not include any adjustments that would result if such support is not continuing.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
CG BIOGAS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Profit and Loss Account if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CG BIOGAS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property

£



Cost 


At 1 June 2023
569,474



At 31 May 2024

569,474



Depreciation


At 1 June 2023
194,545



At 31 May 2024

194,545



Net book value



At 31 May 2024
374,929



At 31 May 2023
374,929


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,500
1,500

Other creditors
46,187
46,187

47,687
47,687


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 5

 
CG BIOGAS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
373,131
373,131

373,131
373,131


Amounts owed to group undertakings are unsecured and interest free.


7.


Contingent liabilities

The company is part of a cross guarantee, granted in favour of National Westminster Bank Plc, together with Collmart Growers Limited and DJC Farms Limited.


8.


Related party transactions

At the year end the company owed £7,067 (2023: £7,067) to DJC Farms Limited, a company with directors in common. This balance is included in other creditors, is interest free and is repayable on demand.


9.


Controlling party

The company's immediate and ultimate parent company is Collmart Growers Limited, a company incorporated in England & Wales, and holding all of the issued shares in this company. The registered office of Collmart Growers Limited is Farcet Road Pondersbridge, Ramsey, Huntingdon, PE26 2TP.

Page 6