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Company Registration No. 11896372 (England and Wales)
X-Grid Energy Limited Unaudited accounts for the year ended 31 December 2024
X-Grid Energy Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
X-Grid Energy Limited Company Information for the year ended 31 December 2024
Directors
Stephen Kellar John Gallacher Marcus Stafani
Company Number
11896372 (England and Wales)
Registered Office
Metropolitan House Station Road, Cheadle Hulme Cheadle Cheshire SK8 7AZ England
- 3 -
X-Grid Energy Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Called up share capital not paid
1,500 
1,500 
Fixed assets
Tangible assets
4
46,516 
70,080 
Investments
5
266,000 
100,000 
312,516 
170,080 
Current assets
Debtors
6
10,993 
7,395 
Cash at bank and in hand
4,898 
5,606 
15,891 
13,001 
Creditors: amounts falling due within one year
7
(157,076)
(11,461)
Net current (liabilities)/assets
(141,185)
1,540 
Total assets less current liabilities
172,831 
173,120 
Creditors: amounts falling due after more than one year
8
(144,116)
(172,685)
Net assets
28,715 
435 
Capital and reserves
Share premium
1,500 
1,500 
Fair value reserve
99,999 
99,999 
Profit and loss account
(72,784)
(101,064)
Shareholders' funds
28,715 
435 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by
Stephen Kellar Director Company Registration No. 11896372
- 4 -
X-Grid Energy Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
X-Grid Energy Limited is a private company, limited by shares, registered in England and Wales, registration number 11896372. The registered office is Metropolitan House, Station Road, Cheadle Hulme, Cheadle, Cheshire, SK8 7AZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years
Investments
Investments in shares are included at fair value. The company has revalued their investment in XGE Renewables. The fair value is based on the directors valuation.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
X-Grid Energy Limited Notes to the Accounts for the year ended 31 December 2024
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
93,034 
2,814 
95,848 
At 31 December 2024
93,034 
2,814 
95,848 
Depreciation
At 1 January 2024
23,259 
2,509 
25,768 
Charge for the year
23,259 
305 
23,564 
At 31 December 2024
46,518 
2,814 
49,332 
Net book value
At 31 December 2024
46,516 
- 
46,516 
At 31 December 2023
69,775 
305 
70,080 
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
100,000 
Additions
166,000 
Valuation at 31 December 2024
266,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,632 
270 
Other debtors
8,361 
7,125 
10,993 
7,395 
- 6 -
X-Grid Energy Limited Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19,834 
19,861 
Obligations under finance leases and hire purchase contracts
20,796 
8,707 
Trade creditors
- 
13,167 
Amounts owed to group undertakings and other participating interests
136,418 
- 
Taxes and social security
90,450 
34,790 
Other creditors
100,259 
87,370 
Loans from directors
(210,681)
(152,434)
157,076 
11,461 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
92,576 
95,107 
Obligations under finance leases and hire purchase contracts
51,540 
77,578 
144,116 
172,685 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors loan account
40,137 
23,478 
60,000 
3,615 
Directors loan account
58,636 
12,089 
60,000 
10,725 
Directors loan account
53,661 
10,300 
60,000 
3,961 
152,434 
45,867 
180,000 
18,301 
The above balances will be repaid in the next financial year.
10
Transactions with related parties
The following amounts are held within Other Creditors At 31 December 2024 the company owed £12,100 (31 December 2023: £17,254) to Acorn Capital Resources Limited, a company controlled by Robert Ian Templeton, a director at the time. At 31 December 2024 the company was owed £8,361 (31 December 2023: £6,001 from) from Reset Eco Limited (formally Optimized Energy Limited), a company under common ownership and control. At 31 December 2024 the company owed £75,560 (31 December 2023: £69,897) to XG Turbine Services Limited, a company under common ownership and control. At 31 December 2024 the company owed £136,419 to (31 December 2023: £1,114 from) XGE Renewables Limited, a subsidiary.
11
Controlling party
The company is controlled by the directors.
- 7 -
X-Grid Energy Limited Notes to the Accounts for the year ended 31 December 2024
12
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 8 -