Company registration number 07538431 (England and Wales)
POSEDAY ENERGY MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
POSEDAY ENERGY MANAGEMENT LTD
COMPANY INFORMATION
Director
Mr P Elonge
Company number
07538431
Registered office
14 Abell Way
Springfield
Chelmsford
Essex
CM2 6WU
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank Limited
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
POSEDAY ENERGY MANAGEMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
POSEDAY ENERGY MANAGEMENT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF POSEDAY ENERGY MANAGEMENT LTD FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Poseday Energy Management Ltd for the year ended 28 February 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Poseday Energy Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Poseday Energy Management Ltd and state those matters that we have agreed to state to the board of directors of Poseday Energy Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poseday Energy Management Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Poseday Energy Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Poseday Energy Management Ltd. You consider that Poseday Energy Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Poseday Energy Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
22 May 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
POSEDAY ENERGY MANAGEMENT LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,902
18,363
Current assets
Debtors
4
63,848
102,120
Cash at bank and in hand
947
2,803
64,795
104,923
Creditors: amounts falling due within one year
5
(48,681)
(32,245)
Net current assets
16,114
72,678
Total assets less current liabilities
30,016
91,041
Creditors: amounts falling due after more than one year
6
(22,035)
(87,782)
Provisions for liabilities
8
(2,642)
(3,490)
Net assets/(liabilities)
5,339
(231)
Capital and reserves
Called up share capital
9
3
3
Profit and loss reserves
5,336
(234)
Total equity
5,339
(231)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
POSEDAY ENERGY MANAGEMENT LTD
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 22 May 2025
Mr P Elonge
Director
Company registration number 07538431 (England and Wales)
POSEDAY ENERGY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information
Poseday Energy Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 14 Abell Way, Springfield, Chelmsford, Essex, CM2 6WU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
20% on reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
POSEDAY ENERGY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
POSEDAY ENERGY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2024
3,698
7,481
61,898
73,077
Additions
300
300
At 28 February 2025
3,698
7,781
61,898
73,377
Depreciation and impairment
At 1 March 2024
3,470
4,820
46,424
54,714
Depreciation charged in the year
56
1,610
3,095
4,761
At 28 February 2025
3,526
6,430
49,519
59,475
Carrying amount
At 28 February 2025
172
1,351
12,379
13,902
At 29 February 2024
228
2,661
15,474
18,363
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
57,972
96,244
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
5,876
5,876
Total debtors
63,848
102,120
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
12,622
Trade creditors
2
Taxation and social security
20,343
25,358
Other creditors
15,716
6,885
48,681
32,245
POSEDAY ENERGY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 7 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,986
51,893
Other creditors
18,049
35,889
22,035
87,782
7
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Hire purchase contracts
26,969
35,889
Bank loans
16,608
51,893
43,577
87,782
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company and a government-backed guarentee.
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
2,642
3,490
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
POSEDAY ENERGY MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
10
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan account
-
96,244
(96,244)
-
96,244
(96,244)
-
11
Ultimate controlling party
The ultimate controlling party is Mr P Elonge.
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