Registered number: 05691393
Energys Group Limited
Unaudited
Financial statements
Information for filing with the registrar
For the year ended 30 June 2024
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Energys Group Limited
Registered number: 05691393
Balance sheet
As at 30 June 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 statement of income and retained earnings 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:
The notes on pages 3 to 6 form part of these financial statements.
Page 1
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Energys Group Limited
Registered number: 05691393
Balance sheet (continued)
As at 30 June 2024
Page 2
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Energys Group Limited
Notes to the financial statements
For the year ended 30 June 2024
The company is a private company, limited by share capital, and incorporated in England and Wales. The address of the registered office is New Kings Court Tollgate, Chandler's Ford, Eastleigh, Hampshire, SO53 3LG. The registered number of the company is 05691393. The principal place of business is Franklyn House, Daux Road, Billingshurst, West Sussex, RH14 9SJ. The principal activity of the company is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling which is the functional currency of the company and are rounded to the nearest whole £.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis as the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
Page 3
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Energys Group Limited
Notes to the financial statements
For the year ended 30 June 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities.
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, 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, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
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Investments in subsidiary companies
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Page 4
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Energys Group Limited
Notes to the financial statements
For the year ended 30 June 2024
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The following were subsidiary undertakings of the company:
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Energy Conservation Solutions Limited
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Supply and installation of energy efficient technologies
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The aggregate of the share capital and reserves as at 30 June 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Energy Conservation Solutions Limited
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Energys Services Limited ^
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^ Energys Services Limited figures above relate to the year ended 31 March 2024 as this is their financial year end.
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Included within Energy Conservation Solutions Limited's creditors is an amount of £666,055 (2023: £621,729) on which security has been given by the company by way of cross guarantee. The amount is secured by fixed and floating charges over the company's assets, as well as similar charges over the assets of other group companies.
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Page 5
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Energys Group Limited
Notes to the financial statements
For the year ended 30 June 2024
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Allotted, called up and fully paid
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38,078,981 (2023 - 38,078,981) Ordinary shares of £0.01 each
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Related party transactions
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The company has taken advantage of the exemption in Section 33.1A of FRS102 'Related Party Disclosures' from disclosing transactions with other wholly owned members of the group.
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The company's immediate parent company is Energys Group Holding Limited, incorporated in the British Virgin Islands. The company's ultimate parent company is Sky Shadow Limited, incorporated in the British Virgin Islands.
The ultimate controlling party is M Lau, by virtue of his majority shareholding in Sky Shadow Limited.
Page 6
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