ACCOUNTS - Final Accounts preparation

ENREN TECHNOLOGIES LTD - Company Information

Registered Number:SC542949

ENREN TECHNOLOGIES LTD

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020


ENREN TECHNOLOGIES LTD

COMPANY INFORMATION

Directors	John Jones
	Grant Leslie


Registered number	SC542949


Registered office	17-19 Innovation Centre
	Aberdeen Science and Energy Park
	Bridge of Don
	Aberdeen
	AB23 8GX


Independent auditor	Anderson Anderson & Brown Audit LLP
	Kingshill View
	Prime Four Business Park
	Kingswells
	Aberdeen
	AB15 8PU


ENREN TECHNOLOGIES LTD

CONTENTS

	Page
Directors' responsibilities statement	1
Balance sheet	2
Notes to the financial statements	3 - 5


ENREN TECHNOLOGIES LTD

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2020

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ENREN TECHNOLOGIES LTD REGISTERED NUMBER:SC542949

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£


Current assets
Cash at bank and in hand	4	388		394
		388		394
Creditors: amounts falling due within one year	5	(32,268)		(32,268)
Net current liabilities			(31,880)		(31,874)
Total assets less current liabilities			(31,880)		(31,874)

Net liabilities			(31,880)		(31,874)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(31,980)	(31,974)
	(31,880)	(31,874)

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

John Jones

Director

Date: 1 July 2021

The notes on pages 3 to 5 form part of these financial statements.

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ENREN TECHNOLOGIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

The company is a private limited company registered in the United Kingdom. The registered office is 17-19 Innovation Centre, Aberdeen Science and Energy Park, Bridge of Don, Aberdeen, AB23 8GX.
The principal activity of the company is the research and development of environmentally friendly waste solution products.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company has net liabilities at the year end of £31,880 (2019 - £31,874). Included within creditors is £30,510 due to a fellow group company, who has confirmed that it shall not seek repayment of the amount due to the detriment of other creditors.
The company no longer trades as all future trading is through SEM Energy Limited, a fellow subsidiary company. The wider group are involved in the development of environmentally friendly waste management products and have a number of opportunities in the pipeline. The directors have prepared forecasts which reflect several significant contracts being secured resulting in a positive cash generating position. The directors believe that together with the funding available, the group has the operating platform available for future growth and for the group to continue as a going concern. The group has obtained a letter of support from the private equity investor and the directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the group will have adequate resources to continue in operational existence for the foreseeable future.

2.3

Research and development

All costs incurred in relation to research and development are written off to the Statement of comprehensive income as incurred.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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ENREN TECHNOLOGIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly employees during the year, excluding directors, was 0 (2019 - 0).

4.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	388	394
	388	394

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ENREN TECHNOLOGIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Amounts owed to group undertakings	30,510	30,509
Accruals and deferred income	1,758	1,759
	32,268	32,268

6.	Related party transactions
	The company is a wholly owned subsidiary of SEM Energy (Holdings) Limited and has taken advantage of the exemption given by section 1AC.35 of FRS 102, which allows exemption from disclosure of related party transactions with other group companies on the basis that the company is a 100% subsidiary.

7.	Controlling party

The immediate controlling party is SEM Energy (Holdings) Limited. There is no ultimate controlling part of SEM Energy (Holdings) Limited.

8.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2020 was unqualified.

The audit report was signed on 1 July 2021 by Derek Mair (Senior statutory auditor) on behalf of Anderson Anderson & Brown Audit LLP.

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