COMPANY REGISTRATION NUMBER:
15446693
|
The National Geothermal Centre Limited |
|
|
Company Limited by Guarantee |
|
|
Filleted Unaudited Financial Statements |
|
|
The National Geothermal Centre Limited |
|
|
Company Limited by Guarantee |
|
|
Statement of Financial Position |
|
31 January 2025
Current assets
|
Cash at bank and in hand |
84,969 |
|
|
|
Creditors: amounts falling due within one year |
5 |
86,449 |
|
-------- |
|
Net current liabilities |
1,480 |
|
------- |
|
Total assets less current liabilities |
(
1,480) |
|
------- |
|
|
|
Capital and reserves
|
Profit and loss account |
(
1,480) |
|
------- |
|
Members deficit |
(
1,480) |
|
------- |
|
|
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 period ending 31st January 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 period 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
21 October 2025
, and are signed on behalf of the board by:
Company registration number:
15446693
|
The National Geothermal Centre Limited |
|
|
Company Limited by Guarantee |
|
|
Notes to the Financial Statements |
|
Period from 27th January 2024 to 31st January 2025
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Netpark Research Institute, Joseph Swan Road, Sedgefield, Stockton on Tees, TS21 3FB.
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.
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 that the company is expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Government
grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Company limited by guarantee
University of Durham
Shift Geothermal Limited
Net Zero Technology Centre Limited.
5.
Creditors:
amounts falling due within one year
|
31 Jan 25 |
|
£ |
|
Other creditors |
86,449 |
|
-------- |
|
|