Anglesey Energy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12083139 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2021

for

Anglesey Energy Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E W Bastow

A L Caston

REGISTERED OFFICE:

80 Guildhall Street

Bury St Edmunds

Suffolk

IP33 1QB

REGISTERED NUMBER:

12083139 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Intangible assets

4

3

3

Tangible assets

5

245,804

257,727

245,807

257,730

CURRENT ASSETS

Stocks

59,274

1,000

Debtors

202,110

7,824

Cash at bank

307,747

30,683

569,131

39,507

CREDITORS

Amounts falling due within one year

955,772

375,195

NET CURRENT LIABILITIES

(386,641

)

(335,688

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(140,834

)

(77,958

)

CAPITAL AND RESERVES

Called up share capital

6

10

10

Retained earnings

(140,844

)

(77,968

)

SHAREHOLDERS' FUNDS

(140,834

)

(77,958

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2022 and were signed on its behalf by:

E W Bastow - Director

1.	STATUTORY INFORMATION

Anglesey Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The director considers that the company's operations for the period ended 31 July 2021 and onwards indicate that the operations are planned to be cash flow positive. The director notes that there are net liabilities as at the year end, due to a significant loan due to unconnected third party of £308,000. The director expects continued support from the loan provider to enable the company to meet financial obligations as they fall due. After the year end the loans were swapped to equity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery- 25% reducing balance and 15 years straight line

Freehold land- Not depreciated

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2020

and 31 July 2021

3

NET BOOK VALUE

At 31 July 2021

3

At 31 July 2020

3

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2020

and 31 July 2021

271,096

DEPRECIATION

At 1 August 2020

13,369

Charge for year

11,923

At 31 July 2021

25,292

NET BOOK VALUE

At 31 July 2021

245,804

At 31 July 2020

257,727

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

10

Ordinary

£1

10

10

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. E W Bastow by virtue of a 100 percent controlling interest in the company.