Company No: 09100680 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	376,194		388,925
		376,194		388,925
Current assets
Stocks		20,000		0
Debtors	5	2,659,224		927,495
Cash at bank and in hand		179,883		628,674
		2,859,107		1,556,169
Creditors: amounts falling due within one year	6	( 1,400,180)		( 672,839)
Net current assets		1,458,927		883,330
Total assets less current liabilities		1,835,121		1,272,255
Creditors: amounts falling due after more than one year	7	( 4,409)		( 14,806)
Provision for liabilities	8	( 139,666)		( 8,041)
Net assets		1,691,046		1,249,408
Capital and reserves
Called-up share capital		100		100
Profit and loss account		1,690,946		1,249,308
Total shareholder's funds		1,691,046		1,249,408

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of IEC Energy Limited (registered number: 09100680) were approved and authorised for issue by the Director on 01 December 2025. They were signed on its behalf by:

Mr K Wilson Director

1. Accounting policies

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.

General information and basis of accounting

IEC Energy Limited (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 IEC House, Old Springs Farm, Market Drayton, Shropshire, TF9 2PG , United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services. Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

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 Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Income from Contracts

In calculating income from contracts, the company makes certain estimates as to the stage of completion of those contracts. In doing so, the company estimates the remaining time and external costs to be incurred in completing contract. These estimates depend upon the outcome of future events and may need to be revised as circumstances change.

Warranty Claims

The company from time to time receives claims in respect of the installation of equipment. It contests such claims where appropriate but makes provision for the probable amounts considered likely to be payable in the future based on previous experience and claims to date. Inevitably, these estimates depend on the outcome and timing of future events and may need to be revised as circumstances change. A different assessment of the likely outcome for each claim or of the possible cost involved may result in a different level of provision recognised.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 January 2024	338,000		277,619		615,619
At 31 December 2024	338,000		277,619		615,619
Accumulated depreciation
At 01 January 2024	0		226,694		226,694
Charge for the financial year	0		12,731		12,731
At 31 December 2024	0		239,425		239,425
Net book value
At 31 December 2024	338,000		38,194		376,194
At 31 December 2023	338,000		50,925		388,925

Included within the net book value of land and buildings above is £338,000 (2023: £338,000) in respect of long leasehold land and buildings.

5. Debtors

	2024		2023
	£		£
Trade debtors	320,721		63,960
Amounts owed by related parties	997,860		857,509
Prepayments and accrued income	1,340,643		6,026
	2,659,224		927,495

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,397		10,140
Amounts owed to related parties	145,000		0
Amounts owed to director	100		100
Accruals and deferred income	987,480		547,672
Corporation tax	150,921		1,556
Other taxation and social security	61,770		113,371
Other creditors	44,512		0
	1,400,180		672,839

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,409		14,806

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	7,785		8,041
Product warranty provision	131,881		0
	139,666		8,041

Product warranties

The provision for product warranties relates to expected warranty claims on products sold in the last five years. It is expected that the majority of this expenditure will be incurred in the next financial year and that all will be incurred within five years of the balance sheet date.