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Company registration number: 7114707
ECO NRG LTD
Unaudited filleted financial statements
31 December 2024
ECO NRG LTD
Contents
Directors and other information
Balance sheet
Statement of changes in equity
Notes to the financial statements
ECO NRG LTD
Directors and other information
Directors Mr N Skelley
Mrs K Skelley
Company number 7114707
Registered office Unit 10C
New Mill's Industrial Estate
Modbury
PL21 0TP
Business address Unit 10C
New Mill's Industrial Estate
Modbury
PL21 0TP
Accountants Franklins Accountants LLP
Astor House
2 Alexandra Road
Mutley Plain
Plymouth
PL4 7JR
ECO NRG LTD
Balance sheet
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 177,412 187,616
_______ _______
177,412 187,616
Current assets
Stocks 125,120 59,820
Debtors 7 260,008 229,112
Cash at bank and in hand 266,548 438,864
_______ _______
651,676 727,796
Creditors: amounts falling due
within one year 8 ( 347,346) ( 451,756)
_______ _______
Net current assets 304,330 276,040
_______ _______
Total assets less current liabilities 481,742 463,656
Creditors: amounts falling due
after more than one year 9 ( 63,410) ( 79,569)
Provisions for liabilities ( 21,456) ( 23,706)
_______ _______
Net assets 396,876 360,381
_______ _______
Capital and reserves
Called up share capital 100 100
Capital redemption reserve 1 1
Profit and loss account 396,775 360,280
_______ _______
Shareholders funds 396,876 360,381
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mr N Skelley
Director
Company registration number: 7114707
ECO NRG LTD
Statement of changes in equity
Year ended 31 December 2024
Called up share capital Capital redemption reserve Profit and loss account Total
£ £ £ £
At 1 January 2023 100 1 283,523 283,624
Profit for the year 186,757 186,757
_______ _______ _______ _______
Total comprehensive income for the year - - 186,757 186,757
Dividends paid and payable ( 110,000) ( 110,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 110,000) ( 110,000)
_______ _______ _______ _______
At 31 December 2023 and 1 January 2024 100 1 360,276 360,377
Profit for the year 150,499 150,499
_______ _______ _______ _______
Total comprehensive income for the year - - 150,499 150,499
Dividends paid and payable ( 114,000) ( 114,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 114,000) ( 114,000)
_______ _______ _______ _______
At 31 December 2024 100 1 396,775 396,876
_______ _______ _______ _______
ECO NRG LTD
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is ECO NRG LTD, Unit 10C, New Mill's Industrial Estate, Modbury, PL21 0TP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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 - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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 the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 15 ).
5. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 52,027 56,814
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 2,250) 37
_______ _______
Tax on profit 49,777 56,851
_______ _______
6. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 92,790 10,910 68,493 158,868 331,061
Additions - - 1,345 19,525 20,870
Disposals - - - ( 23,498) ( 23,498)
_______ _______ _______ _______ _______
At 31 December 2024 92,790 10,910 69,838 154,895 328,433
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 - 9,168 48,164 86,113 143,445
Charge for the year - 261 3,251 21,573 25,085
Disposals - - - ( 17,509) ( 17,509)
_______ _______ _______ _______ _______
At 31 December 2024 - 9,429 51,415 90,177 151,021
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2024 92,790 1,481 18,423 64,718 177,412
_______ _______ _______ _______ _______
At 31 December 2023 92,790 1,742 20,329 72,755 187,616
_______ _______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 196,671 76,500
Other debtors 63,337 152,612
_______ _______
260,008 229,112
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,512 8,220
Trade creditors 133,377 160,016
Corporation tax 52,027 56,814
Social security and other taxes 10,679 13,826
Other creditors 140,751 212,880
_______ _______
347,346 451,756
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 27,483 34,697
Other creditors 35,927 44,872
_______ _______
63,410 79,569
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ - (2023 £ 1,817 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr N Skelley 39,550 17,067 ( 57,000) ( 383)
Mrs K Skelley 39,550 17,067 ( 57,000) ( 383)
_______ _______ _______ _______
79,100 34,134 ( 114,000) ( 766)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr N Skelley ( 1,400) 95,950 ( 55,000) 39,550
Mrs K Skelley ( 1,400) 95,950 ( 55,000) 39,550
_______ _______ _______ _______
( 2,800) 191,900 ( 110,000) 79,100
_______ _______ _______ _______
11. Related party transactions
The directors have loaned the company £765.26 at the year end date. The loan is interest free and repayable in less than 1 year.During the year dividends were voted to the shareholders of £114,000.
12. Controlling party
The company is controlled and owned by the directors and shareholders Mr N Skelley and Mrs K Skelley .