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Registration number: 12631552

Outsourced Energy Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Outsourced Energy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Outsourced Energy Limited

Company Information

Directors

Mrs J M Knight

Mr J P Knight

Mr S C Ashcroft-Lark

Registered office

62 Cranford Avenue
Exmouth
Devon
EX8 2QF

Accountants

Redwoods
Chartered Certified Accountants2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

Outsourced Energy Limited

(Registration number: 12631552)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

199,547

231,475

Tangible assets

5

38,315

16,600

 

237,862

248,075

Current assets

 

Stocks

6

36,661

48,174

Debtors

7

134,422

94,403

Cash at bank and in hand

 

56,257

148,910

 

227,340

291,487

Creditors: Amounts falling due within one year

8

(189,356)

(343,458)

Net current assets/(liabilities)

 

37,984

(51,971)

Total assets less current liabilities

 

275,846

196,104

Creditors: Amounts falling due after more than one year

8

-

(100,000)

Net assets

 

275,846

96,104

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

275,746

96,004

Shareholders' funds

 

275,846

96,104

For the financial year ending 30 September 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 and 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 26 March 2025 and signed on its behalf by:
 

.........................................
Mrs J M Knight
Director

   
     
 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
62 Cranford Avenue
Exmouth
Devon
EX8 2QF

These financial statements were authorised for issue by the Board on 26 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 accounts are prepared in £ sterling and are rounded to £1.

Disclosure of long or short period

The company's previous accounting period was extended to 30th September 2023. The comparative figures, where shown, are for fifteen months.

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 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet 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 apportioned pro-rata in respect of all additions during the period.
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

20% straight line

Office equipment

33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 3).

 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

319,277

319,277

At 30 September 2024

319,277

319,277

Amortisation

At 1 October 2023

87,802

87,802

Amortisation charge

31,928

31,928

At 30 September 2024

119,730

119,730

Carrying amount

At 30 September 2024

199,547

199,547

At 30 September 2023

231,475

231,475

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

12,528

7,971

-

20,499

Additions

7,500

582

20,000

28,082

Disposals

(650)

(100)

-

(750)

At 30 September 2024

19,378

8,453

20,000

47,831

Depreciation

At 1 October 2023

1,670

2,229

-

3,899

Charge for the year

2,736

2,656

333

5,725

Eliminated on disposal

(86)

(22)

-

(108)

At 30 September 2024

4,320

4,863

333

9,516

Carrying amount

At 30 September 2024

15,058

3,590

19,667

38,315

At 30 September 2023

10,858

5,742

-

16,600

6

Stocks

 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Work in progress

5,000

7,500

Other inventories

31,661

40,674

36,661

48,174

7

Debtors

Current

2024
£

2023
£

Trade debtors

113,812

85,235

Prepayments

4,510

818

Other debtors

16,100

8,350

 

134,422

94,403

 

Outsourced Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

102,023

93,535

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

43,633

-

Taxation and social security

 

41,700

23,048

Accruals and deferred income

 

2,000

1,875

Other creditors

 

-

225,000

 

189,356

343,458

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

-

100,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

100,000