2
5 March 2025
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
12,543,717
185,544
12,729,261
418,124
501,749
919,873
11,809,388
12,125,593
xbrli:pure
xbrli:shares
iso4217:GBP
09065561
2023-05-01
2024-04-30
09065561
2024-04-30
09065561
2023-04-30
09065561
2022-05-01
2023-04-30
09065561
2023-04-30
09065561
2022-04-30
09065561
core:PlantMachinery
2023-05-01
2024-04-30
09065561
bus:OrdinaryShareClass1
2023-05-01
2024-04-30
09065561
bus:Director10
2023-05-01
2024-04-30
09065561
core:PlantMachinery
2023-04-30
09065561
core:PlantMachinery
2024-04-30
09065561
core:WithinOneYear
2024-04-30
09065561
core:WithinOneYear
2023-04-30
09065561
core:ShareCapital
2024-04-30
09065561
core:ShareCapital
2023-04-30
09065561
core:RetainedEarningsAccumulatedLosses
2024-04-30
09065561
core:RetainedEarningsAccumulatedLosses
2023-04-30
09065561
core:BetweenOneFiveYears
2024-04-30
09065561
core:BetweenOneFiveYears
2023-04-30
09065561
core:MoreThanFiveYears
2024-04-30
09065561
core:MoreThanFiveYears
2023-04-30
09065561
core:PlantMachinery
2023-04-30
09065561
bus:SmallEntities
2023-05-01
2024-04-30
09065561
bus:Audited
2023-05-01
2024-04-30
09065561
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
09065561
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
09065561
bus:FullAccounts
2023-05-01
2024-04-30
09065561
bus:OrdinaryShareClass1
2024-04-30
09065561
bus:OrdinaryShareClass1
2023-04-30
COMPANY REGISTRATION NUMBER:
09065561
FILLETED FINANCIAL STATEMENTS |
|
30 April 2024
Fixed assets
Tangible assets |
5 |
|
11,809,388 |
|
12,125,593 |
|
|
|
|
|
|
Current assets
Debtors |
6 |
489,714 |
|
344,147 |
|
Cash at bank and in hand |
63,690 |
|
1,418,698 |
|
|
-------- |
|
----------- |
|
|
553,404 |
|
1,762,845 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
10,608,592) |
|
(
13,448,816) |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
(
10,055,188) |
|
(
11,685,971) |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
1,754,200 |
|
439,622 |
|
|
|
|
|
|
Provisions
Taxation including deferred tax |
(
284,649) |
|
(
111,389) |
|
Other provisions |
(
185,543) |
|
– |
|
|
-------- |
|
-------- |
|
|
|
(470,192) |
|
(111,389) |
|
|
----------- |
|
-------- |
Net assets |
|
1,284,008 |
|
328,233 |
|
|
----------- |
|
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
8 |
|
250 |
|
250 |
Profit and loss account |
|
1,283,758 |
|
327,983 |
|
|
----------- |
|
-------- |
Shareholders funds |
|
1,284,008 |
|
328,233 |
|
|
----------- |
|
-------- |
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
5 March 2025
, and are signed on behalf of the board by:
Company registration number:
09065561
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 APRIL 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.
Going concern
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Turnover comprises the value of electricity generated of which the value of sales are fixed by contracts with the purchaser setting out the price which will be paid for each unit of electricity generated. Revenue from sales of electricity are recognised in the period in which the output is delivered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
4% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Basic financial assets, which include trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 May 2023 |
12,543,717 |
Additions |
185,544 |
|
------------ |
At 30 April 2024 |
12,729,261 |
|
------------ |
Depreciation |
|
At 1 May 2023 |
418,124 |
Charge for the year |
501,749 |
|
------------ |
At 30 April 2024 |
919,873 |
|
------------ |
Carrying amount |
|
At 30 April 2024 |
11,809,388 |
|
------------ |
At 30 April 2023 |
12,125,593 |
|
------------ |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
489,714 |
130,509 |
Other debtors |
– |
213,638 |
|
-------- |
-------- |
|
489,714 |
344,147 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
67,815 |
1,476,619 |
Amounts owed to other related entities |
10,319,272 |
11,964,797 |
Corporation tax |
143,698 |
– |
Social security and other taxes |
70,083 |
– |
Other creditors |
7,724 |
7,400 |
|
------------ |
------------ |
|
10,608,592 |
13,448,816 |
|
------------ |
------------ |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 0.05 each |
5,000 |
250 |
5,000 |
250 |
|
------ |
---- |
------ |
---- |
|
|
|
|
|
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
Not later than 1 year |
33,667 |
33,667 |
Later than 1 year and not later than 5 years |
134,668 |
134,668 |
Later than 5 years |
1,099,792 |
1,133,459 |
|
----------- |
----------- |
|
1,268,127 |
1,301,794 |
|
----------- |
----------- |
|
|
|
10.
Summary audit opinion
The auditor's report dated
5 March 2025
was
unqualified
.
The senior statutory auditor was
W J E Kerr
, for and on behalf of
Xeinadin Audit Limited
.