0 false false false false false false false false false false true false false false false false false 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 198,052 68,266 9,903 78,169 119,883 129,786 xbrli:pure xbrli:shares iso4217:GBP NI634277 2024-01-01 2024-12-31 NI634277 2024-12-31 NI634277 2023-12-31 NI634277 2023-01-01 2023-12-31 NI634277 2023-12-31 NI634277 2022-12-31 NI634277 core:PlantMachinery 2024-01-01 2024-12-31 NI634277 bus:Director2 2024-01-01 2024-12-31 NI634277 core:PlantMachinery 2023-12-31 NI634277 core:PlantMachinery 2024-12-31 NI634277 core:WithinOneYear 2024-12-31 NI634277 core:WithinOneYear 2023-12-31 NI634277 core:AfterOneYear 2024-12-31 NI634277 core:AfterOneYear 2023-12-31 NI634277 core:ShareCapital 2024-12-31 NI634277 core:ShareCapital 2023-12-31 NI634277 core:RetainedEarningsAccumulatedLosses 2024-12-31 NI634277 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI634277 core:PlantMachinery 2023-12-31 NI634277 bus:Director1 2024-01-01 2024-12-31 NI634277 bus:SmallEntities 2024-01-01 2024-12-31 NI634277 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 NI634277 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI634277 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI634277 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: NI634277
Aughnaglea Energy Ltd
Filleted Unaudited Financial Statements
31 December 2024
Aughnaglea Energy Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
119,883
129,786
Current assets
Debtors
5
21,725
21,026
Cash at bank and in hand
30,173
568
--------
--------
51,898
21,594
Creditors: amounts falling due within one year
6
60,333
67,422
--------
--------
Net current liabilities
8,435
45,828
---------
---------
Total assets less current liabilities
111,448
83,958
Creditors: amounts falling due after more than one year
7
1,273
3,804
Provisions
22,599
17,538
---------
--------
Net assets
87,576
62,616
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
87,476
62,516
--------
--------
Shareholders funds
87,576
62,616
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Aughnaglea Energy Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 9 July 2025 , and are signed on behalf of the board by:
Mr Jason Kerr
Director
Company registration number: NI634277
Aughnaglea Energy Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 28 Aghnaglea Road, Sixmilecross, OMAGH, Co Tyrone, BT79 9NP. The principal activity of the company during the year was the production of electricity.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Plant and machinery
£
Cost
At 1 January 2024 and 31 December 2024
198,052
---------
Depreciation
At 1 January 2024
68,266
Charge for the year
9,903
---------
At 31 December 2024
78,169
---------
Carrying amount
At 31 December 2024
119,883
---------
At 31 December 2023
129,786
---------
5. Debtors
2024
2023
£
£
Trade debtors
20,997
18,611
Other debtors
728
2,415
--------
--------
21,725
21,026
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,662
2,662
Trade creditors
3,541
8,718
Amounts owed to group undertakings and undertakings in which the company has a participating interest
53,705
56,042
Social security and other taxes
425
--------
--------
60,333
67,422
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,273
3,804
-------
-------
8. Directors' advances, credits and guarantees
The balance owed to the director at 31 December 2024 was £NIL (2023:£NIL).
9. Related party transactions
The company was under the control of Mr Jason Kerr and Mrs Clare Kerr throughout the year. During the year Aughnaglea Energy received £6,794 from an interest free loan from Crosshill Energy. The total amount outstanding at the year end was £41,211 (2023:£34,417).