IRIS Accounts Production v25.1.0.734 SC345129 director 1.8.23 31.7.24 31.7.24 28/4/2025 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3451292023-07-31SC3451292024-07-31SC3451292023-08-012024-07-31SC3451292022-07-31SC3451292022-08-012023-07-31SC3451292023-07-31SC345129ns15:Scotland2023-08-012024-07-31SC345129ns14:PoundSterling2023-08-012024-07-31SC345129ns10:Director12023-08-012024-07-31SC345129ns10:CompanyLimitedByGuarantee2023-08-012024-07-31SC345129ns10:SmallEntities2023-08-012024-07-31SC345129ns10:Audited2023-08-012024-07-31SC345129ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC345129ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC345129ns10:FullAccounts2023-08-012024-07-31SC34512912023-08-012024-07-31SC345129ns10:RegisteredOffice2023-08-012024-07-31SC345129ns5:CurrentFinancialInstruments2024-07-31SC345129ns5:CurrentFinancialInstruments2023-07-31SC345129ns5:Non-currentFinancialInstruments2024-07-31SC345129ns5:Non-currentFinancialInstruments2023-07-31SC345129ns5:RetainedEarningsAccumulatedLosses2024-07-31SC345129ns5:RetainedEarningsAccumulatedLosses2023-07-31SC345129ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31SC345129ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-08-012024-07-31SC345129ns5:PlantMachinery2023-08-012024-07-31SC345129ns5:FurnitureFittings2023-08-012024-07-31SC345129ns5:MotorVehicles2023-08-012024-07-31SC345129ns5:IntangibleAssetsOtherThanGoodwill2023-07-31SC345129ns5:IntangibleAssetsOtherThanGoodwill2024-07-31SC345129ns5:IntangibleAssetsOtherThanGoodwill2023-07-31SC345129ns5:LandBuildings2023-07-31SC345129ns5:PlantMachinery2023-07-31SC345129ns5:FurnitureFittings2023-07-31SC345129ns5:MotorVehicles2023-07-31SC345129ns5:LandBuildings2023-08-012024-07-31SC345129ns5:LandBuildings2024-07-31SC345129ns5:PlantMachinery2024-07-31SC345129ns5:FurnitureFittings2024-07-31SC345129ns5:MotorVehicles2024-07-31SC345129ns5:LandBuildings2023-07-31SC345129ns5:PlantMachinery2023-07-31SC345129ns5:FurnitureFittings2023-07-31SC345129ns5:MotorVehicles2023-07-31SC345129ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC345129ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC345129ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-31SC345129ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-31SC345129ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-31SC345129ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-31SC345129ns5:Non-currentFinancialInstruments2023-08-012024-07-31SC345129ns5:DeferredTaxation2023-07-31SC345129ns5:DeferredTaxation2024-07-31
REGISTERED NUMBER: SC345129 (Scotland)











ENERGY TECHNOLOGY CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 9


ENERGY TECHNOLOGY CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: J F Bingham





REGISTERED OFFICE: Rankine Avenue
Scottish Enterprise Technology Park
East Kilbride
G75 0QF





REGISTERED NUMBER: SC345129 (Scotland)





AUDITORS: Azets Audit Services
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 45,938 36,688
Tangible assets 6 1,090,171 1,146,340
1,136,109 1,183,028

CURRENT ASSETS
Debtors 7 38,031 107,336
Cash at bank and in hand 56,609 151,651
94,640 258,987
CREDITORS
Amounts falling due within one year 8 185,652 201,174
NET CURRENT (LIABILITIES)/ASSETS (91,012 ) 57,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,045,097

1,240,841

CREDITORS
Amounts falling due after more than one
year

9

(1,040,988

)

(1,123,968

)

PROVISIONS FOR LIABILITIES 11 (25,452 ) (59,808 )
NET (LIABILITIES)/ASSETS (21,343 ) 57,065

RESERVES
Income and expenditure account (21,343 ) 57,065
(21,343 ) 57,065

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





J F Bingham - Director


ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Energy Technology Centre Limited is a private company, limited by guarantee, registered in Scotland. The company's registered number is SC345129 and registered office address is Rankine Avenue, Scottish Enterprise Technology Park, East Kilbride, G75 0QF.

The nature of the company's operations and its principal activities are that of engineering projects in support of the low carbon technology sector.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

At the balance sheet date, the company had net liabilities amounting to £21,343. The director has prepared cash flow projections which demonstrate that the company will be able to trade within its facility limits. The director therefore believes that it remains appropriate to prepare the accounts on the going concern basis.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the director has made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Rental income is included in the period which it is earned.

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.

Intangible assets comprise of payments made to acquire intellectual property and development costs. The costs of acquiring intellectual property have been fully amortised in previous accounting periods and development costs are being amortised over a period of 7 years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 33% on cost

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Government grants
Government grants received in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.
An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023 67,303
Additions 18,140
At 31 July 2024 85,443
AMORTISATION
At 1 August 2023 30,615
Charge for year 8,890
At 31 July 2024 39,505
NET BOOK VALUE
At 31 July 2024 45,938
At 31 July 2023 36,688

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 1,012,551 727,507 10,615 8,500 1,759,173
Additions - 2,265 - - 2,265
At 31 July 2024 1,012,551 729,772 10,615 8,500 1,761,438
DEPRECIATION
At 1 August 2023 404,941 188,777 10,615 8,500 612,833
Charge for year 40,502 17,932 - - 58,434
At 31 July 2024 445,443 206,709 10,615 8,500 671,267
NET BOOK VALUE
At 31 July 2024 567,108 523,063 - - 1,090,171
At 31 July 2023 607,610 538,730 - - 1,146,340

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,614 71,480
Other debtors 17,519 12,000
VAT - 4,890
Prepayments and accrued income 8,898 18,966
38,031 107,336

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 59,557
Trade creditors 46,014 71,566
Social security and other taxes 3,868 6,426
VAT 7,840 -
Accruals and deferred income 42,950 28,645
Deferred government grants 34,980 34,980
185,652 201,174

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 37,500 87,500
Other creditors 498,751 496,751
Deferred government grants 454,737 489,717
1,040,988 1,123,968

One of the bank loans is repayable at 8% per annum over ten years. The balance outstanding on this loan at the year end was £nil (2023 - £9,557).

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 9,558

The bank loan is secured with a standard security over freehold property and a floating charge over all assets of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 25,452 59,808

Deferred
tax
£   
Balance at 1 August 2023 59,808
Originating and reversal of (19,054 )
timing differences
Effect of changes in tax rates (15,302 )
Balance at 31 July 2024 25,452

ENERGY TECHNOLOGY CENTRE LIMITED (REGISTERED NUMBER: SC345129)
(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William Vernall BA CA (Senior Statutory Auditor)
for and on behalf of Azets Audit Services

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 34,890

14. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. LIABILITY OF MEMBERS

The company is limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1.