BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of Gaia Smart Energy (NI) Limited is plumbing, heat and air-conditioning installation. 31 March 2025 1 1 NI679695 2024-06-30 NI679695 2023-06-30 NI679695 2022-06-30 NI679695 2023-07-01 2024-06-30 NI679695 2022-07-01 2023-06-30 NI679695 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI679695 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI679695 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI679695 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI679695 uk-bus:Director1 2023-07-01 2024-06-30 NI679695 uk-bus:Agent1 2023-07-01 2024-06-30 NI679695 uk-core:ShareCapital 2024-06-30 NI679695 uk-core:ShareCapital 2023-06-30 NI679695 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI679695 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI679695 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI679695 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI679695 uk-bus:FRS102 2023-07-01 2024-06-30 NI679695 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI679695 uk-core:MotorVehicles 2023-07-01 2024-06-30 NI679695 uk-core:CostValuation 2024-06-30 NI679695 uk-core:CurrentFinancialInstruments 2024-06-30 NI679695 uk-core:CurrentFinancialInstruments 2023-06-30 NI679695 uk-core:WithinOneYear 2024-06-30 NI679695 uk-core:WithinOneYear 2023-06-30 NI679695 uk-core:WithinOneYear 2024-06-30 NI679695 uk-core:WithinOneYear 2023-06-30 NI679695 uk-core:AfterOneYear 2024-06-30 NI679695 uk-core:AfterOneYear 2023-06-30 NI679695 uk-core:BetweenOneTwoYears 2024-06-30 NI679695 uk-core:BetweenOneTwoYears 2023-06-30 NI679695 uk-core:BetweenTwoFiveYears 2024-06-30 NI679695 uk-core:BetweenTwoFiveYears 2023-06-30 NI679695 uk-core:EmployeeBenefits 2023-06-30 NI679695 uk-core:EmployeeBenefits 2023-07-01 2024-06-30 NI679695 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI679695 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI679695 uk-core:OtherDeferredTax 2024-06-30 NI679695 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI679695 uk-core:EmployeeBenefits 2024-06-30 NI679695 2023-07-01 2024-06-30 NI679695 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI679695
 
 
Gaia Smart Energy (NI) Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024



Gaia Smart Energy (NI) Limited
DIRECTOR AND OTHER INFORMATION

 
Director Joseph McKee
 
 
Company Registration Number NI679695
 
 
Business Address 2 Woodstock Link
Belfast
BT6 8PD
Nothern Ireland
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
United Kingdom
 
 
Bankers Starling Bank
  3rd Floor
  2 Finsbury Avenue
  London
  EC2M 2PP
  United Kingdom



Gaia Smart Energy (NI) Limited
Company Registration Number: NI679695
STATEMENT OF FINANCIAL POSITION
as at 30 June 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 5 21,234 20,142
Property, plant and equipment 6 13,086 13,663
Financial assets 7 1 1
───────── ─────────
Non-Current Assets 34,321 33,806
───────── ─────────
 
Current Assets
Inventories 8 22,444 21,550
Receivables 9 17,652 6,864
Cash and cash equivalents 1,814 6,858
───────── ─────────
41,910 35,272
───────── ─────────
Payables: amounts falling due within one year 10 (59,705) (56,327)
───────── ─────────
Net Current Liabilities (17,795) (21,055)
───────── ─────────
Total Assets less Current Liabilities 16,526 12,751
 
Payables:
amounts falling due after more than one year 11 (18,785) (9,683)
 
Provisions for liabilities 13 (2,486) (2,596)
───────── ─────────
Net (Liabilities)/Assets (4,745) 472
═════════ ═════════
 
Equity
Called up share capital 1 1
Retained earnings (4,746) 471
───────── ─────────
Equity attributable to owners of the company (4,745) 472
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 31 March 2025
           
           
________________________________          
Joseph McKee          
Director          
           



Gaia Smart Energy (NI) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Gaia Smart Energy (NI) Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI679695. The registered office of the company is. The principal activity of Gaia Smart Energy (NI) Limited is plumbing, heat and air-conditioning installation. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight Line
  Motor vehicles - 20% Straight Line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the financial year in which it is receivable.
 
Inventories
Inventories are valued at the lower of cost and net realisable value. Inventories are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
As at 30th June 2024, the balance sheet showed a deficiency of assets of £4,745. The company remains reliant upon the support of its director and inter-company.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 1.
 
  2024 2023
  Number Number
 
Employee 1 1
  ═════════ ═════════
       
5. Intangible assets
     
    Total
  £ £
Cost
At 1 July 2023 22,380 22,380
Additions 3,700 3,700
  ───────── ─────────
At 30 June 2024 26,080 26,080
  ───────── ─────────
Amortisation
At 1 July 2023 2,238 2,238
Charge for financial year 2,608 2,608
  ───────── ─────────
At 30 June 2024 4,846 4,846
  ───────── ─────────
Carrying amount
At 30 June 2024 21,234 21,234
  ═════════ ═════════
At 30 June 2023 20,142 20,142
  ═════════ ═════════
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
         
6. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost or Valuation
At 1 July 2023 12,625 8,000 20,625
Additions 4,435 - 4,435
  ───────── ───────── ─────────
At 30 June 2024 17,060 8,000 25,060
  ───────── ───────── ─────────
Depreciation
At 1 July 2023 3,762 3,200 6,962
Charge for the financial year 3,412 1,600 5,012
  ───────── ───────── ─────────
At 30 June 2024 7,174 4,800 11,974
  ───────── ───────── ─────────
Carrying amount
At 30 June 2024 9,886 3,200 13,086
  ═════════ ═════════ ═════════
At 30 June 2023 8,863 4,800 13,663
  ═════════ ═════════ ═════════
       
7. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
 
At 30 June 2024 1 1
  ───────── ─────────
Carrying amount
At 30 June 2024 1 1
  ═════════ ═════════
At 30 June 2023 1 1
  ═════════ ═════════
       
8. Inventories 2024 2023
  £ £
 
Finished goods and goods for resale 22,444 21,550
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
9. Receivables 2024 2023
  £ £
 
Trade receivables 10,863 1,844
Amounts owed by connected parties (Note 15) 31 2,167
Taxation  (Note 12) 4,483 679
Prepayments and accrued income 2,275 2,174
  ───────── ─────────
  17,652 6,864
  ═════════ ═════════
       
10. Payables 2024 2023
Amounts falling due within one year £ £
 
Bank loan 6,408 4,680
Trade payables 6,961 12,583
Taxation  (Note 12) 148 2,092
Director's current account 41,698 31,811
Other creditors 2,990 3,661
Accruals 1,500 1,500
  ───────── ─────────
  59,705 56,327
  ═════════ ═════════
       
11. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 18,785 9,683
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 10) 6,408 4,680
Repayable between one and two years 6,408 4,680
Repayable between two and five years 12,377 5,003
  ───────── ─────────
  25,193 14,363
  ═════════ ═════════
 
       
12. Taxation 2024 2023
  £ £
 
Receivables:
VAT 4,483 679
  ═════════ ═════════
Payables:
Corporation tax - 2,042
PAYE / NI 148 50
  ───────── ─────────
  148 2,092
  ═════════ ═════════
         
13. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 2,596 2,596 -
Charged to profit and loss (110) (110) 2,596
  ───────── ───────── ─────────
At financial year end 2,486 2,486 2,596
  ═════════ ═════════ ═════════
       
14. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 June 2024.
           
15. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Gaia Smart Energy (Ireland) Limited 31 (2,136) 2,167 2,167
  ───────── ───────── ───────── ═════════
 
Gaia Smart Energy (Ireland) Limited
Gaia Smart Energy (NI) Limited is the sole shareholder of Gaia Smart Energy (Ireland) Limited. As at 30 June 2023 regarding intercompany transactions, Gaia Smart Energy (Ireland) Limited owed Gaia Smart Energy (NI) Limited £2,167. During the year there was a net movement of £2,136. As at 30 June 2024, Gaia Smart Energy (Ireland) Limited owed Gaia Smart Energy (NI) Limited £31.
   
16. Director's advances, credits and guarantees
 
During the financial year, the director made a loan to the company amounting to £41,698. This loan is interest free and payable on demand.
   
17. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.