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COMPANY REGISTRATION NUMBER: NI615872
Crosshill Energy
Filleted Unaudited Financial Statements
31 December 2024
Crosshill Energy
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
269,854
287,322
Current assets
Debtors
6
90,671
100,320
Cash at bank and in hand
34,916
7,399
---------
---------
125,587
107,719
Creditors: amounts falling due within one year
7
87,144
67,677
---------
---------
Net current assets
38,443
40,042
---------
---------
Total assets less current liabilities
308,297
327,364
Creditors: amounts falling due after more than one year
8
177,156
197,415
Provisions
Taxation including deferred tax
67,463
54,558
---------
---------
Net assets
63,678
75,391
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
63,578
75,291
--------
--------
Shareholders funds
63,678
75,391
--------
--------
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 .
Crosshill Energy
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 J Kerr
Director
Company registration number: NI615872
Crosshill Energy
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 17 Aghnaglea Road, Sixmilecross, Omagh, County 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
Fixtures and fittings
-
25% reducing balance
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. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
402,328
2,277
404,605
Additions
2,249
741
2,990
---------
-------
---------
At 31 December 2024
404,577
3,018
407,595
---------
-------
---------
Depreciation
At 1 January 2024
115,182
2,101
117,283
Charge for the year
20,229
229
20,458
---------
-------
---------
At 31 December 2024
135,411
2,330
137,741
---------
-------
---------
Carrying amount
At 31 December 2024
269,166
688
269,854
---------
-------
---------
At 31 December 2023
287,146
176
287,322
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
48,817
55,997
Amounts owed by group undertakings and undertakings in which the company has a participating interest
41,854
35,060
Other debtors
9,263
--------
---------
90,671
100,320
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
42,346
42,346
Trade creditors
6,774
2,283
Corporation tax
32,885
20,499
Social security and other taxes
4,552
2,549
Other creditors
587
--------
--------
87,144
67,677
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
177,156
197,415
---------
---------
9. Directors' advances, credits and guarantees
During the year the director provided loans to the company totalling £112,044. Cash withdrawn and personal expenses paid by the company on behalf of the director totalled £102,194. The balance owed to the director at 31 December 2024 was £587 (2023 balance owed to company: £9,263).
10. Related party transactions
The company was under the control of Mr J Kerr and Mrs C Kerr throughout the current year. During the year Crosshill Energy advanced interest free loans to Augnaglea Energy totaling £6,794. The balance outstanding at 31 December 2024 is £41,211.(2023: £34,417) During the year there were no repayments made to Crosshill Energy in respect of the interest free loan to Remackan Energy. The balance outstanding at 31 December 2024 is £643. (2023: £643)