Tuxford Renewable Energy Limited 09221776 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Renewable energy Digita Accounts Production Advanced 6.30.9574.0 true true true 09221776 2023-04-01 2024-03-31 09221776 2024-03-31 09221776 core:RetainedEarningsAccumulatedLosses 2024-03-31 09221776 core:ShareCapital 2024-03-31 09221776 core:CurrentFinancialInstruments 2024-03-31 09221776 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09221776 core:FurnitureFittingsToolsEquipment 2024-03-31 09221776 bus:SmallEntities 2023-04-01 2024-03-31 09221776 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09221776 bus:FilletedAccounts 2023-04-01 2024-03-31 09221776 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09221776 bus:RegisteredOffice 2023-04-01 2024-03-31 09221776 bus:Director1 2023-04-01 2024-03-31 09221776 bus:Director2 2023-04-01 2024-03-31 09221776 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09221776 bus:Agent1 2023-04-01 2024-03-31 09221776 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09221776 core:PlantMachinery 2023-04-01 2024-03-31 09221776 1 2023-04-01 2024-03-31 09221776 countries:EnglandWales 2023-04-01 2024-03-31 09221776 2023-03-31 09221776 core:FurnitureFittingsToolsEquipment 2023-03-31 09221776 2022-04-01 2023-03-31 09221776 2023-03-31 09221776 core:RetainedEarningsAccumulatedLosses 2023-03-31 09221776 core:ShareCapital 2023-03-31 09221776 core:CurrentFinancialInstruments 2023-03-31 09221776 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09221776 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09221776

Tuxford Renewable Energy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Tuxford Renewable Energy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tuxford Renewable Energy Limited

Company Information

Directors

P M Ducksbury

Mrs H M Brown

Registered office

Hawksley Farm
Upton
RETFORD
Nottinghamshire
DN22 0QZ

Bankers

Barclays Bank plc
Knightsbridge Intl Banking
PO Box 69999
1 Churchill Place
Canary Wharf
LONDON
E14 1QE

 

Tuxford Renewable Energy Limited

(Registration number: 09221776)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,298,519

2,292,942

Current assets

 

Stocks

5

84,796

47,582

Debtors

6

653,406

611,178

Cash at bank and in hand

 

405,177

-

 

1,143,379

658,760

Creditors: Amounts falling due within one year

7

(5,958,104)

(5,148,446)

Net current liabilities

 

(4,814,725)

(4,489,686)

Net liabilities

 

(2,516,206)

(2,196,744)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(2,516,207)

(2,196,745)

Shareholders' deficit

 

(2,516,206)

(2,196,744)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 March 2025 and signed on its behalf by:
 

.........................................
P M Ducksbury
Director

.........................................
Mrs H M Brown
Director

 

Tuxford Renewable Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hawksley Farm
Upton
RETFORD
Nottinghamshire
DN22 0QZ

These financial statements were authorised for issue by the Board on 10 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The company was subject to a takeover in June 2024 which included a restructure of debt between the company and what was it's parent company at the time. The incoming directors have taken the operating and management of the plant in house which is expected to have a positive impact on the profitability of the company going forward.

The directors have considered the future cashflow requirements and consider adequate resource to be in place to continue to operate as a going concern.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Tuxford Renewable Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

4% and 5% per annum on a straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Stocks relate to feedstock purchased prior to it's use in the energy generation process.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

Tuxford Renewable Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,498,531

3,498,531

Additions

183,602

183,602

At 31 March 2024

3,682,133

3,682,133

Depreciation

At 1 April 2023

1,205,589

1,205,589

Charge for the year

178,025

178,025

At 31 March 2024

1,383,614

1,383,614

Carrying amount

At 31 March 2024

2,298,519

2,298,519

At 31 March 2023

2,292,942

2,292,942

5

Stocks

2024
£

2023
£

Other inventories

84,796

47,582

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

-

30,105

Prepayments

 

61,406

-

Other debtors

 

592,000

581,073

   

653,406

611,178

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

289,745

45,814

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

5,266,474

4,734,940

Taxation and social security

 

-

2,908

Accruals and deferred income

 

401,885

-

Other creditors

 

-

364,784

 

5,958,104

5,148,446

 

Tuxford Renewable Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £21,696 (2023 - £44,054).

9

Parent and ultimate parent undertaking

B.D.E Holdings Limited purchased the entire share capital of the company from former parent Bellevue Renewable Limited, a company registered in Scotland, on 28 June 2024.

 The Company's immediate parent is B.D.E. Holdings Limited, incorporated in England and Wales.