Company Registration No. 08146223 (England and Wales)
Onsen Energy Group Limited
Unaudited accounts
for the year ended 30 June 2024
Onsen Energy Group Limited
Unaudited accounts
Contents
Onsen Energy Group Limited
Company Information
for the year ended 30 June 2024
Directors
BERRY, Gareth James
IRISH, Ian Alexander Robert
Company Number
08146223 (England and Wales)
Accountants
Surrey Hills Accountancy Limited
The Old Workshop
Longfrey Cottage
Dorking Road
Chilworth
GU4 8RH
Onsen Energy Group Limited
Statement of financial position
as at 30 June 2024
Tangible assets
25,884
34,167
Cash at bank and in hand
97,092
87,983
Creditors: amounts falling due within one year
(44,231)
(22,446)
Net current assets
529,718
547,188
Total assets less current liabilities
555,602
581,355
Creditors: amounts falling due after more than one year
(307,719)
(323,082)
Net assets
247,883
258,273
Called up share capital
100
100
Profit and loss account
247,783
258,173
Shareholders' funds
247,883
258,273
For the year ending 30 June 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by
BERRY, Gareth James
Director
Company Registration No. 08146223
Onsen Energy Group Limited
Notes to the Accounts
for the year ended 30 June 2024
Onsen Energy Group Limited is a private company, limited by shares, registered in England and Wales, registration number 08146223.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Onsen Energy Group Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2023
5,829
56,588
62,417
At 30 June 2024
5,829
56,870
62,699
At 1 July 2023
1,457
26,793
28,250
Charge for the year
1,093
7,472
8,565
At 30 June 2024
2,550
34,265
36,815
At 30 June 2024
3,279
22,605
25,884
At 30 June 2023
4,372
29,795
34,167
Amounts falling due within one year
Accrued income and prepayments
9,578
-
Amounts falling due after more than one year
Amounts due from group undertakings etc.
459,065
459,065
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
3,277
3,277
Trade creditors
25,416
8,219
Taxes and social security
4,506
341
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
25,402
28,679
Loans from directors
282,317
294,403
Onsen Energy Group Limited
Notes to the Accounts
for the year ended 30 June 2024
8
Transactions with related parties
As of 30 June 2024, the balance of the loan made to Onsen Energy Limited stood at £459,065.44 (2023: £459,065.44). This loan remains unchanged from the prior year. The terms and conditions of the loan are consistent with those previously disclosed, and no new transactions or adjustments have been made during the financial year.
Dividends Paid to Directors:
Dividends were paid to directors amounting to £20,400. These payments relate to their shareholdings in the company and were made on the same terms as those available to all other shareholders.
Salaries Paid to Directors:
During the tax year 2023/24, salaries paid to directors of the company amounted to £12,570 per director. These payments were made as compensation for their services and are in line with the company's standard remuneration policy.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).