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COMPANY REGISTRATION NUMBER: SC539715
Voltair Energy Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2025
Voltair Energy Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
357,690
355,867
Investments
6
100
100
---------
---------
357,790
355,967
Current assets
Stocks
73,006
68,678
Debtors
7
1,605,449
1,019,157
Cash at bank and in hand
763,945
419,437
------------
------------
2,442,400
1,507,272
Creditors: amounts falling due within one year
8
990,865
637,494
------------
------------
Net current assets
1,451,535
869,778
------------
------------
Total assets less current liabilities
1,809,325
1,225,745
Creditors: amounts falling due after more than one year
9
169,129
202,955
Provisions
89,423
88,967
------------
------------
Net assets
1,550,773
933,823
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,550,673
933,723
------------
---------
Shareholders funds
1,550,773
933,823
------------
---------
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 March 2025 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 .
Voltair Energy Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 7 August 2025 , and are signed on behalf of the board by:
Mr Christopher Whitehead
Director
Company registration number: SC539715
Voltair Energy Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Workspace 3, Suite 3.17, 17 Fullarton Road, Glasgow, G31 8YL.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
8% straight line
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2024: 19 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2024
189,500
34,184
373,493
15,472
612,649
Additions
105,328
13,214
118,542
Disposals
( 64,847)
( 64,847)
---------
--------
---------
--------
---------
At 31 March 2025
189,500
34,184
413,974
28,686
666,344
---------
--------
---------
--------
---------
Depreciation
At 1 April 2024
63,167
13,088
170,456
10,071
256,782
Charge for the year
15,791
3,165
72,248
6,143
97,347
Disposals
( 45,475)
( 45,475)
---------
--------
---------
--------
---------
At 31 March 2025
78,958
16,253
197,229
16,214
308,654
---------
--------
---------
--------
---------
Carrying amount
At 31 March 2025
110,542
17,931
216,745
12,472
357,690
---------
--------
---------
--------
---------
At 31 March 2024
126,333
21,096
203,037
5,401
355,867
---------
--------
---------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2024 and 31 March 2025
100
----
Impairment
At 1 April 2024 and 31 March 2025
----
Carrying amount
At 31 March 2025
100
----
At 31 March 2024
100
----
7. Debtors
2025
2024
£
£
Trade debtors
206,109
77,017
Amounts owed by group undertakings and undertakings in which the company has a participating interest
226,133
218,133
Other debtors
1,173,207
724,007
------------
------------
1,605,449
1,019,157
------------
------------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
38,333
38,333
Trade creditors
566,803
392,144
Corporation tax
275,686
119,381
Social security and other taxes
23,489
18,051
Other creditors
86,554
69,585
---------
---------
990,865
637,494
---------
---------
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
15,973
54,306
Other creditors
153,156
148,649
---------
---------
169,129
202,955
---------
---------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2025
2024
£
£
Mr Fraser McKenzie
( 2,713)
( 2,713)
Mr Christopher Whitehead
( 1,153)
( 1,153)
-------
-------
( 3,866)
( 3,866)
-------
-------
11. Related party transactions
During the year, the company issued management charges of £151,575 (2024: £133,796) to Sustainable Asset Management Limited, a company under common control. The company also received invoices for goods and services totalling £97,157 during the year from Sustainable Asset Management Limited. The company also incurred management charges of £116,193 (2024: £150,285) during the year from Voltair Systems Limited, a company in which C. Whitehead and F. Mackenzie are directors and shareholders. The company, during the year to 31 March 2025, paid aggregate director salaries of £16,080 (2024: £16,080) and aggregate dividends of £189,000 (2024: £202,000).