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Registered Number: 13409957
England and Wales

 

 

 

CREATE ENERGY LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors Stewart Richardson
Simon Hunter
Registered Number 13409957
Registered Office Unit 12A Dockray Mill
Dockray Mill Estate
Kendal
Cumbria
LA9 4RU
Accountants Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 68,882    51,780 
68,882    51,780 
Current assets      
Stocks 4 108,650    14,200 
Debtors 5 173,821    250,783 
Cash at bank and in hand 101,470    173,103 
383,941    438,086 
Creditors: amount falling due within one year 6 (362,278)   (415,557)
Net current assets 21,663    22,529 
 
Total assets less current liabilities 90,545    74,309 
Provisions for liabilities 7 (17,220)   (12,945)
Net assets 73,325    61,364 
 

Capital and reserves
     
Called up share capital 8 300    300 
Profit and loss account 73,025    61,064 
Shareholders' funds 73,325    61,364 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 May 2025 and were signed on its behalf by:


-------------------------------
Stewart Richardson
Director
2
General Information
Create Energy Ltd is a private company, limited by shares, registered in England and Wales, registration number 13409957, registration address Unit 12A Dockray Mill, Dockray Mill Estate, Kendal, Cumbria, LA9 4RU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 12 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 September 2023 2,400    64,694    1,947    69,041 
Additions 18,250    21,812      40,062 
Disposals      
At 31 August 2024 20,650    86,506    1,947    109,103 
Depreciation
At 01 September 2023 600    16,174    487    17,261 
Charge for year 5,012    17,583    365    22,960 
On disposals      
At 31 August 2024 5,612    33,757    852    40,221 
Net book values
Closing balance as at 31 August 2024 15,038    52,749    1,095    68,882 
Opening balance as at 01 September 2023 1,800    48,520    1,460    51,780 


4.

Stocks

2024
£
  2023
£
Stocks & Work in Progress 108,650    14,200 
108,650    14,200 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 119,594    180,247 
Other Debtors 12,067    2,590 
VAT 42,160    67,946 
173,821    250,783 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 75,138    95,074 
Corporation Tax 867    5,127 
Accrued Expenses 2,840    2,860 
Other Creditors   57,747 
Other Creditors - Create Solar UK Limited 58,063    49,083 
Other Creditors - Create Electrical Kendal Ltd 191,792    191,792 
Other Creditors - Create Fire & Security Ltd   8,000 
Directors' Current Accounts 33,578    5,874 
362,278    415,557 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 17,220    12,945 
17,220    12,945 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £0.10 each 100    100 
1,000 Class B shares of £0.10 each 100    100 
1,000 Class C shares of £0.10 each 100    100 
300    300 

9.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Create Electrical Kendal Ltd(365,000)(191,792)(191,792)
Create Solar UK Limited(8,980)(69,000)(58,063)(49,083)

During the year the Company did not undertake any works with Create Electrical Kendal Ltd. (2023 - £365,000).
During the year the Company was charged for equipment and office costs by Create Solar UK Limited the Holding Company to the value of £8,980 (2023 - £69,000).
3