BGN Energy Ltd iXBRL

Company Registration Number: 14657784

BGN Energy Ltd

Unaudited Financial Statements

for the financial year ended 31 December 2024

BGN Energy Ltd

Company Registration Number: 14657784

BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	$	$

Fixed Assets

Tangible assets

934,616

511,486

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Current Assets

Debtors

130,629

2,242

Cash and cash equivalents

332,349

476,930

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462,978

479,172

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Creditors: amounts falling due within one year

(1,890,028)

(108,481)

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Net Current (Liabilities)/Assets

(1,427,050)

370,691

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Total Assets less Current Liabilities

(492,434)

882,177

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Capital and Reserves

Called up share capital

1,011,120

1,011,120

Retained earnings

(1,503,554)

(128,943)

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Equity attributable to owners of the company

(492,434)

882,177

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 25 September 2025 and signed on its behalf by

________________________________

Bryan John Greenwood

Director

________________________________

SHEHZAD HAQ

Director

BGN Energy Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

BGN Energy Ltd is a company limited by shares incorporated in the United Kingdom. The registered office of the company is 26 Bruton Street, London, W1J 6QL which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in US Dollar ($) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets

Tangible assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold Improvements

5 years

Plant and machinery

5 years straight Line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 0, (2023 - 0).


4.	Tangible assets
		Leasehold	Plant and	Total
		Improvements	machinery

		$	$	$
	Cost
	At 1 January 2024	511,486	-	511,486
	Additions	111,202	494,045	605,247
		─────────	─────────	─────────
	At 31 December 2024	622,688	494,045	1,116,733
		─────────	─────────	─────────
	Depreciation
	At 1 January 2024	-	-	-
	Charge for the financial year	102,080	80,037	182,117
		─────────	─────────	─────────
	At 31 December 2024	102,080	80,037	182,117
		─────────	─────────	─────────
	Net book value
	At 31 December 2024	520,608	414,008	934,616
		═════════	═════════	═════════
	At 31 December 2023	511,486	-	511,486
		═════════	═════════	═════════


5.	Debtors	2024	2023
		$	$

	Other debtors	130,629	2,242
		═════════	═════════


6.	Creditors	2024	2023
	Amounts falling due within one year	$	$

	Trade creditors	12,375	15,981
	Other creditors	1,877,653	92,500
		─────────	─────────
		1,890,028	108,481
		═════════	═════════

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.