QUASAR ENERGY LTD - Filleted accounts

Registered number

09887811

QUASAR ENERGY LTD

Filleted Accounts

31 December 2024

QUASAR ENERGY LTD
Registered number:		09887811
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Project in progress	3		1,031,405			-

Current assets
Debtors	4	61,911			100
Cash at bank and in hand		10,938			-
		72,849			100

Creditors: amounts falling due within one year	5	(1,501)			-

Net current assets			71,348			100

Total assets less current liabilities			1,102,753			100

Creditors: amounts falling due after more than one year	6		(1,103,279)			-



Net (liabilities)/assets			(526)			100

Capital and reserves
Called up share capital			1,000			100
Profit and loss account			(1,526)			-

Shareholders' funds			(526)			100

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Nitin Jayant Madhvani
Director
Approved by the board on 20 October 2025

QUASAR ENERGY LTD
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Going concern
	The financial statements have been prepared on a going concern basis in view of the fact that the directors have indicated that they will provide sufficient funding to the company to enable it to meet its liabilities as they fall due, for at least the next twelve months.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	0		0


3	Project in progress


Project in progress
£
	Cost
	Additions			1,031,405

	At 31 December 2024			1,031,405


4	Debtors	2024		2023
£			£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest	60,911		-
	Other debtors	1,000		100
		61,911		100


5	Creditors: amounts falling due within one year	2024		2023
£			£

	Other creditors	1,501		-


6	Creditors: amounts falling due after one year	2024		2023
£			£

	Other creditors	1,103,279		-
		1,103,279		-
	At the balance sheet date, the company had an above outstanding balance due to a shareholder, which is presented under long-term creditors. The loan is unsecured, interest-free; however, the director has confirmed their intention not to demand repayment within the next twelve months. Subsequent to the year end, the director has confirmed their intention to convert this loan balance into equity in the next financial year. Accordingly, the balance has been classified as a long-term liability at the year-end date.




7	Other information

	QUASAR ENERGY LTD is a private company limited by shares and incorporated in England. Its registered office is:
	Argyle House
	3rd Floor Northside
	Joel Street, Northwood Hills
	Middlesex
	HA6 1NW