Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 700,113 | 734,101 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 204,513 | 205,707 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (81,194) | (201,567) | ||
| Total assets less current liabilities | 618,919 | 532,534 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of UK Renewable Energy Developments Ltd (registered number:
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Mr Thomas Beasley-Suffolk
Director |
Mr Timothy Dart
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
UK Renewable Energy Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Creagh Lodge Timbercombe Lane, Charlton Kings, Cheltenham, GL53 8EE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
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| Fixtures and fittings |
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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 the Statement of Income and Retained Earnings as described below.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
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| Monthly average number of persons employed by the Company during the year, including directors |
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| Plant and machinery | Fixtures and fittings | Office equipment | Total | ||||
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| Cost | |||||||
| At 01 November 2023 |
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| At 31 October 2024 |
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| Accumulated depreciation | |||||||
| At 01 November 2023 |
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| Charge for the financial year |
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| At 31 October 2024 |
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| Net book value | |||||||
| At 31 October 2024 |
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| At 31 October 2023 |
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Other creditors |
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| £ | £ | ||
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Other related party transactions
Timothy Dart Limited
This company owns 50% of the shares in the UK Renewable Energy Developments Limited. During the year funds were advanced to this company. At the year end the company was owed £108,000 (2023 (£107,000) The loan is interest free and repayable on demand.