| Green Energy Trading Limited |
| Registered number: |
08840086 |
| Balance Sheet |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
5,645,673 |
|
|
4,037,926 |
|
| Current assets |
| Debtors |
3 |
|
329,052 |
|
|
95,736 |
| Cash at bank and in hand |
|
|
363,083 |
|
|
2,062,278 |
|
|
|
692,135 |
|
|
2,158,014 |
|
| Creditors: amounts falling due within one year |
4 |
|
(125,817) |
|
|
(16,203) |
|
| Net current assets |
|
|
|
566,318 |
|
|
2,141,811 |
|
| Total assets less current liabilities |
|
|
|
6,211,991 |
|
|
6,179,737 |
|
|
| Provisions for liabilities |
|
|
|
- |
|
|
(46,464) |
|
|
| Net assets |
|
|
|
6,211,991 |
|
|
6,133,273 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
6 |
|
|
66,544 |
|
|
66,544 |
| Share premium |
|
|
|
6,488,651 |
|
|
6,488,651 |
| Profit and loss account |
|
|
|
(343,204) |
|
|
(421,922) |
|
| Shareholders' funds |
|
|
|
6,211,991 |
|
|
6,133,273 |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Dayrell Shane Gallwey |
| Director |
| Approved by the board on 11 October 2017 |
|
| Green Energy Trading Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 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).
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The Company transitioned to FRS 102 (section 1A) as at 1 April 2015.
In preparing the accounts, the Directors have considered whether in applying the accounting policies required by FRS 102, a restatement of comparatives was needed. No restatements were required. |
|
The accounts have been prepared on a going concern basis as the directors believe there will be sufficient cash to continue operations for the foreseeable future. |
|
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
5% straight line (Depreciation not charged in the year of addition. No depreciation charged on assets under construction). |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
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. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
Plant and machinery |
|
Assets under construction |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2016 |
7,650 |
|
4,030,659 |
|
4,038,309 |
|
Additions |
1,608,130 |
|
- |
|
1,608,130 |
|
Reclassification |
4,030,659 |
|
(4,030,659) |
|
- |
|
At 31 March 2017 |
5,646,439 |
|
- |
|
5,646,439 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2016 |
383 |
|
- |
|
383 |
|
Charge for the year |
383 |
|
- |
|
383 |
|
At 31 March 2017 |
766 |
|
- |
|
766 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
5,645,673 |
|
- |
|
5,645,673 |
|
At 31 March 2016 |
7,267 |
|
4,030,659 |
|
4,037,926 |
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
121,688 |
|
- |
|
Deferred tax asset (see note 5) |
|
|
|
|
49,932 |
|
- |
|
Other debtors |
157,432 |
|
95,736 |
|
|
|
|
|
|
329,052 |
|
95,736 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
71,327 |
|
6,496 |
|
Other creditors |
54,490 |
|
9,707 |
|
|
|
|
|
|
125,817 |
|
16,203 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Deferred tax |
2017 |
|
2016 |
| £ |
£ |
|
|
|
Accelerated capital allowances |
279,139 |
|
161,453 |
|
Tax losses carried forward |
(329,071) |
|
(114,989) |
|
|
|
|
|
|
(49,932) |
|
46,464 |
|
|
|
|
|
|
|
|
|
|
At 1 April |
46,464 |
|
80,952 |
|
Deferred tax charge in profit and loss |
(96,396) |
|
(34,488) |
|
At 31 March |
(49,932) |
|
46,464 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
Nominal |
|
2017 |
|
2017 |
|
2016 |
| value |
Number |
£ |
£ |
|
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£0.01 each |
6,554,393 |
|
65,544 |
|
65,544 |
|
A Ordinary shares |
£0.01 each |
100,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
66,544 |
|
66,544 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
2017 |
|
2016 |
|
James Rowe |
|
Director |
|
Director's fees |
|
|
|
|
4000 |
|
4000 |
|
Amount due from (to) the related party |
(1,000) |
|
(1,000) |
|
|
|
|
|
|
|
| 8 |
Ultimate Controlling Party |
|
|
There is no ultimate controlling party. |
|
|
| 9 |
Other information |
|
|
Green Energy Trading Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
38 Temple Avenue |
|
London |
|
N20 9EH |
