REGISTERED NUMBER: |
Struthers Energy & Power Limited |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30th June 2024 |
REGISTERED NUMBER: |
Struthers Energy & Power Limited |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30th June 2024 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Contents of the Financial Statements |
for the year ended 30th June 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 |
Struthers Energy & Power Limited |
Company Information |
for the year ended 30th June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Struthers Energy & Power Limited (Registered number: 12434583) |
Strategic Report |
for the year ended 30th June 2024 |
The directors present their strategic report for the year ended 30th June 2024. |
PRINCIPAL ACTIVITIES |
The principal activities of the company during the period are that of marketing, design, supply , project management and commissioning of Offshore Waste Heat Recovery Units (WHRU) to the worldwide offshore oil and gas market. |
The company also design and construct Waste to Energy plants (WtE) and are focussing initially on UK markets. |
REVIEW OF BUSINESS |
The Directors again report pleasing growth in line with predictions. Turnover having increased during the period by 22% and margins have been maintained. The business continues to run a lean operating philosophy so as to remain competitive . Product is manufactured wholly in the UK and the Directors report that the client base continue to praise that concept .A key indicator of great project performance being the ongoing repeat business with Major Oil and Gas and EPC Companies. |
Forecast looks increasingly optimistic, the company carries over a healthy order book. The web of agents now covering most areas Worldwide is providing an increased flow of projects. The product itself is fast becoming the ''favoured'' technology and on that basis the Directors are confident that order intake during the next financial period will again increase significantly . |
Further recruitment is underway and the company are now planning to increase the office space to accommodate the continuous increase in business activity and head count. |
The company realises that the market for WHRU is competitive , but have no immediate intention of moving manufacture to the ''Low cost'' countries in line with most competitors. Our client base is becoming more aware of ''right first time'', ''on time'' and ''high levels of quality'' together with low carbon footprint from the UK build, something the company is particularly proud of. The Directors report incredibly positive feedback from existing customers on completed projects enjoying the economic benefits of having the design and build under one roof. The Struthers designs being increasingly adopted by a growing client base . |
Although the companies Patented designs are well proven research and development continues and a continuous improvement programme refines the already excellent WHRU design. |
During the period the Directors report much R&D work has also been afforded to its patented WtE design. |
A reference plant is currently under construction having gone through extensive design review and further innovative additions. |
The Directors can confirm their continued commitment to health and safety together with ongoing support to the companies quality control regime including successful re accreditation to ISO 9001:2015. |
GOING CONCERN. |
The directors believe the company is well placed to manage its business risks successfully despite the uncertainties surrounding current economic environment and accordingly continue to adopt the going concern basis in preparing the annual report and accounts |
PRINCIPAL RISKS AND UNCERTAINTIES |
Key risks to the business can be mitigated as they arise, the Directors are confident that the company has the ability to do so not least though further diversification and commercial management together with the support of its parent company. |
KEY PERFORMANCE INDICATORS |
The Directors report that performance in each area of the business is constantly monitored. Adjustments are made along with improvements as required against performance reporting. |
Struthers Energy & Power Limited (Registered number: 12434583) |
Strategic Report |
for the year ended 30th June 2024 |
FINANCIAL RISK MANAGEMENT |
Finances are monitored daily/weekly with cash flow prediction and strong credit control in hand to ensure financial stability. |
ON BEHALF OF THE BOARD: |
Struthers Energy & Power Limited (Registered number: 12434583) |
Report of the Directors |
for the year ended 30th June 2024 |
The directors present their report with the financial statements of the company for the year ended 30th June 2024. |
DIVIDENDS |
No dividends will be distributed for the year ended 30th June 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Struthers Energy & Power Limited |
Opinion |
We have audited the financial statements of Struthers Energy & Power Limited (the 'company') for the year ended 30th June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Struthers Energy & Power Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Struthers Energy & Power Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we: |
- | performed analytical procedures to identify any unusual or unexpected relationships; |
- | tested journal entries to identify unusual transactions; |
- | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
- | investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- | agreeing financial statement disclosures to underlying supporting documentation; |
- | enquiring of management as to actual and potential litigation and claims; and |
- | reviewing correspondence with relevant regulators the company's legal advisors. |
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Struthers Energy & Power Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Struthers Energy & Power Limited (Registered number: 12434583) |
Income Statement |
for the year ended 30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Distribution costs |
Administrative expenses |
348,065 | 315,360 |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit | 6 | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Struthers Energy & Power Limited (Registered number: 12434583) |
Balance Sheet |
30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Struthers Energy & Power Limited (Registered number: 12434583) |
Statement of Changes in Equity |
for the year ended 30th June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1st July 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 30th June 2023 |
Changes in equity |
Total comprehensive income | - |
Balance at 30th June 2024 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Cash Flow Statement |
for the year ended 30th June 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
Tax paid |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Net cash from investing activities | ( |
) | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
955,715 |
Cash and cash equivalents at end of year |
2 |
1,044,616 |
245,168 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Cash Flow Statement |
for the year ended 30th June 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Depreciation charges |
652,802 | 638,059 |
Decrease/(increase) in stocks | ( |
) |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30th June 2024 |
30/6/24 | 1/7/23 |
£ | £ |
Cash and cash equivalents | 1,044,616 | 245,168 |
Year ended 30th June 2023 |
30/6/23 | 1/7/22 |
£ | £ |
Cash and cash equivalents | 245,168 | 955,715 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/7/23 | Cash flow | At 30/6/24 |
£ | £ | £ |
Net cash |
Cash at bank | 245,168 | 799,448 | 1,044,616 |
245,168 | 1,044,616 |
Total | 245,168 | 799,448 | 1,044,616 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements |
for the year ended 30th June 2024 |
1. | STATUTORY INFORMATION |
Struthers Energy & Power Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on a going concern basis which the directors consider appropriate.The directors are confident that the company's relations with its customers and suppliers, and its current trading, leave the company well placed to manage its business risk successfully. |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirement of paragraph 33.7. |
Significant judgements and estimates |
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include: |
In respect of long term contracts there is inevitably some uncertainty on the anticipated costs to completion. However, only in those cases where, in the directors opinion, those can be estimated reliably is any attributable profit accounted for. |
Turnover |
Revenue represents sales to outside customers, net of VAT and trade discounts, in the ordinary course of business for goods supplied as a principle and for services provided. |
Sales of products are recognised when the significant risks and rewards of ownership are transferred to the customer and they have a legally binding obligation to settle under the terms of the contract. |
In the case of long term contracts providing that the outcome can be assessed with reasonable certainty, the revenues and costs on such contracts are recognised based on stage of completion and overall contract profitability. |
Full provision is made for any estimated losses on completion of contracts having regard for the overall substance of the arrangements. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Contract work in progress is included in debtors stated at net realisable value. Cumulative turnover (i.e. the total turnover recorded in respect of the contract in the profit and loss accounts of all accounting periods since inception of the contract) is compared with total payments on account. If turnover exceeds payments on account an "amount recoverable on contracts" is established and separately disclosed within debtors. If payments on account are greater than turnover to date, the excess is classified within creditors. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. |
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2024 | 2023 |
£ | £ |
United Kingdom |
Rest of the world | 4,191,284 | 4,099,766 |
The turnover and profit before tax are attributable to the principal activity of the company. The total amount of contract revenue recognised in the period was £5,615,682 (2023 £4,620,801). |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Salaries | 159,775 | 188,040 |
Social security costs | 18,166 | 23,045 |
Other pension costs | 2,216 | 3,436 |
180,157 | 214,521 |
The average number of employees during the year was as follows: |
2024 | 2023 |
Management | 3 | 4 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Other intangible assets amortisation |
Auditors' remuneration |
Foreign exchange differences |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
6. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Prior year overprovision | (99,380 | ) | (44,826 | ) |
Group relief | - | 15,663 |
Total current tax | ( |
) |
Deferred tax | ( |
) |
Tax on profit | ( |
) |
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Utilisation of tax losses | ( |
) |
Adjustments to tax charge in respect of previous periods | ( |
) | ( |
) |
Change in tax rate | - | (18,672 | ) |
Group relief | - | (15,663 | ) |
Deferred tax overprovided in previous year | (52,583 | ) | - |
R&D claim | (152,964 | ) | - |
Total tax (credit)/charge | (159,255 | ) | 55,875 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
7. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
AMORTISATION |
At 1st July 2023 |
Amortisation for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
8. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st July 2023 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
9. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on long term contracts |
Corporation tax |
Other taxes |
Deferred tax asset |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
12. | PROVISIONS FOR LIABILITIES |
2023 |
£ |
Deferred tax | 71 |
Deferred |
tax |
£ |
Balance at 1st July 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 30th June 2024 | ( |
) |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 500,000 | 500,000 |
Struthers Energy & Power Limited (Registered number: 12434583) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
14. | RESERVES |
Retained |
earnings |
£ |
At 1st July 2023 |
Profit for the year |
At 30th June 2024 |
15. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
16. | ULTIMATE CONTROLLING PARTY |
The immediate parent undertaking is C F Struthers Limited. The ultimate parent undertaking is C F Struthers (Holdings) Limited for which group financial statements are prepared. The registered office of the ultimate parent company is Millennium Works, Valletta Street, Hedon Road, Hull, East Yorkshire, HU9 5NP. Copies of the C F Struthers (Holdings) Limited's financial statements can be obtained from Companies House. |
The ultimate controlling party is N Burton. |