Budget Power & Energy Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00494552

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Budget Power & Energy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Bailey

J Shinton

SECRETARY:

J Shinton

REGISTERED OFFICE:

Nagington Grange

Childs Ercall

Market Drayton

Shropshire

TF9 2TW

REGISTERED NUMBER:

00494552

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Tangible assets

4

282,504

277,999

Investments

5

191,930

191,930

474,434

469,929

CURRENT ASSETS

Debtors

6

42,512

53,903

Cash at bank

78,785

455,041

121,297

508,944

CREDITORS

Amounts falling due within one year

7

400,884

525,406

NET CURRENT LIABILITIES

(279,587

)

(16,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

194,847

453,467

CREDITORS

Amounts falling due after more than one year

8

-

(9,334

)

PROVISIONS FOR LIABILITIES

(696

)

(1,182

)

NET ASSETS

194,151

442,951

CAPITAL AND RESERVES

Called up share capital

26,000

26,000

Revaluation reserve

10

167,000

167,000

Retained earnings

10

1,151

249,951

SHAREHOLDERS' FUNDS

194,151

442,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 12 December 2017 and were signed on its behalf by:

R Bailey - Director

1.	STATUTORY INFORMATION

Budget Power & Energy Limited is a private company, limited by shares , registered in Not specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

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

Freehold property

-

5% on cost

Motor vehicles

-

25% on cost

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 1 .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 July 2016

272,509

11,900

284,409

Additions

7,580

-

7,580

At 30 June 2017

280,089

11,900

291,989

DEPRECIATION

At 1 July 2016

3,435

2,975

6,410

Charge for year

100

2,975

3,075

At 30 June 2017

3,535

5,950

9,485

NET BOOK VALUE

At 30 June 2017

276,554

5,950

282,504

At 30 June 2016

269,074

8,925

277,999

Cost or valuation at 30 June 2017 is represented by:

Freehold

Motor

property

vehicles

Totals

£

£

£

Valuation in 1996

167,000

-

167,000

Cost

113,089

11,900

124,989

280,089

11,900

291,989

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2016

and 30 June 2017

191,930

NET BOOK VALUE

At 30 June 2017

191,930

At 30 June 2016

191,930

Investments include an investment in the £2.50 ordinary shares of Shrewsbury Town Football Club plc, a

company registered in England and Wales together with interests in certain fishing rights.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Loan to associated company

9,024

18,356

Directors' loan accounts

33,112

23,502

Prepayments

376

12,045

42,512

53,903

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other loans

9,024

9,022

Tax

14,109

100,037

Social security and other taxes

1,828

710

Other creditors

8,342

-

Loan from associated company

363,825

410,954

Accrued expenses

3,756

4,683

400,884

525,406

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Other loans - 1-2 years

-

9,334

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Other loan

9,024

18,356

The company borrowed funds from the Trustees of the Bates & Hunt (Petroleum) Ltd Special pension Scheme.

The loan is repayable over the next five years and interest is chargeable at a fixed rate of 3%. The loan is secured

by a personal guarantee from Mr R Bailey, director of the company.

10.

RESERVES

The difference between the Profit and Loss Account Reserves brought forward and carried forward is the result

of the profit for the year and dividends.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and

30 June 2016:

30.6.17

30.6.16

£

£

R Bailey

Balance outstanding at start of year

(23,502

)

(13,316

)

Amounts advanced

5,058

4,570

Amounts repaid

(14,668

)

(14,756

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(33,112

)

(23,502

)

12.	RELATED PARTY DISCLOSURES

13.	FIRST TIME ADOPTION OF FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit and loss.