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Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Applied Energy Limited

Applied Energy Limited (Registered number: 03252269)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Applied Energy Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: G Peters
T King





SECRETARY: T King





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 03252269 (England and Wales)





ACCOUNTANTS: Williams & Co
Chartered Accountants
8/10 South Street
Epsom
Surrey
KT18 7PF

Applied Energy Limited (Registered number: 03252269)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 42,482 51,322
Investments 5 20,847 21,220
63,329 72,542

CURRENT ASSETS
Stocks 39,451 39,451
Debtors 6 522,764 458,756
Cash at bank 480,971 658,249
1,043,186 1,156,456
CREDITORS
Amounts falling due within one year 7 617,088 346,350
NET CURRENT ASSETS 426,098 810,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

489,427

882,648

CREDITORS
Amounts falling due after more than one
year

8

(100,000

)

(180,000

)

PROVISIONS FOR LIABILITIES 11 (1,275 ) (294 )
NET ASSETS 388,152 702,354

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 387,152 701,354
SHAREHOLDERS' FUNDS 388,152 702,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Applied Energy Limited (Registered number: 03252269)

Balance Sheet - continued
30 September 2024


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 Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:





T King - Director


Applied Energy Limited (Registered number: 03252269)

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


1. STATUTORY INFORMATION

Applied Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
Financial instruments
The valuation of the equity instruments held has been impaired down to the nominal value of the shares invested in. This is following a review of the latest accounts for the company in which they're held.

The valuation of the investment portfolio is based upon the market values provided by the fund managers which the directors deem appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Applied Energy Limited (Registered number: 03252269)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial Assets
Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial Liabilities
Basic financial liabilities, including trade and other creditors, bank loans, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as noncurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Applied Energy Limited (Registered number: 03252269)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 91,363 2,301 8,135 26,942 128,741
Additions - - - 6,770 6,770
At 30 September 2024 91,363 2,301 8,135 33,712 135,511
DEPRECIATION
At 1 October 2023 54,817 1,621 6,112 14,869 77,419
Charge for year 9,136 169 505 5,800 15,610
At 30 September 2024 63,953 1,790 6,617 20,669 93,029
NET BOOK VALUE
At 30 September 2024 27,410 511 1,518 13,043 42,482
At 30 September 2023 36,546 680 2,023 12,073 51,322

5. FIXED ASSET INVESTMENTS

2024 2023
£ £
Investment portfolio 18,069 18,442
Equity investment 2,778 2,778
20,847 21,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 474,378 421,656
Other debtors 2,400 2,400
Prepayments 45,986 34,700
522,764 458,756

Applied Energy Limited (Registered number: 03252269)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 80,000 80,000
Trade creditors 41,844 1,746
Tax 123,566 65,626
VAT 77,911 64,622
Other creditors 9,243 3,294
PAYE & Other Taxes 24,161 22,417
Pensions 1,940 1,910
Directors' current accounts 150,740 47,269
Accrued expenses 107,683 59,466
617,088 346,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 100,000 180,000

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,000 80,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 100,000 180,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 180,000 260,000

The bank loan is secured by way of a fixed and floating charges covering all the property or undertaking of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,275 294

Deferred
tax
£   
Balance at 1 October 2023 294
Provided during year 981
Balance at 30 September 2024 1,275

Applied Energy Limited (Registered number: 03252269)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. ULTIMATE CONTROLLING PARTY

The company is under the control of G.Peters and T.King who between them hold 100% of the share capital.