Green Energy Trading Limited Accounts

GREEN ENERGY TRADING LIMITED - Company Information






Green Energy Trading Limited
	Company No. 08840086
		Information for Filing with The Registrar
		31 March 2018

The Directors present their report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was production of renewable energy.




Directors

The Directors who served at any time during the year were as follows:

R.N. Foster
D.S. Gallwey
K.G. Hunter

































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D.S. Gallwey
Director
30 June 2018

at	31 March 2018

Company No.		08840086	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	5,522,009	5,645,673


				5,522,009	5,645,673
Current assets

	Debtors		3	389,245	329,052

	Cash at bank and in hand			95,953	363,083
				485,198	692,135
Creditors: Amount falling due within one year			4	(17,255)	(125,817)
Net current assets				467,943	566,318
Total assets less current liabilities				5,989,952	6,211,991

Provisions for liabilities
	Deferred taxation		5	-	-

Net assets				5,989,952	6,211,991

Capital and reserves
	Called up share capital			68,067	66,544
	Share premium account		6	6,637,151	6,488,651


	Profit and loss account		6	(715,266)	(343,204)

Total equity				5,989,952	6,211,991


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 30 June 2018

And signed on its behalf by:

D.S. Gallwey
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).
Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

2	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2017	5,646,439	5,646,439
		Additions	367,686	367,686



		At 31 March 2018	6,014,125	6,014,125
		Depreciation
		At 1 April 2017	766	766
		Charge for the year	491,350	491,350



		At 31 March 2018	492,116	492,116
		Net book values
		At 31 March 2018	5,522,009	5,522,009
		At 31 March 2017	5,645,673	5,645,673

3	Debtors
			2018	2017
			£	£
		Trade debtors	1,043	121,688


		Deferred tax asset (see note 5)	120,613	49,932


		Other debtors	80,688	157,432
		Prepayments and accrued income	186,901	-
			389,245	329,052

4	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	5,283	71,327




		Other creditors	-	54,490
		Accruals and deferred income	11,972	-
			17,255	125,817

5	Provisions for liabilities
		Deferred taxation

			Accelerated capital allowances, losses and other timing differences	Arising from revaluation	Total
			£	£	£
		At 1 April 2017	(49,932)	-	(49,932)
		Charge to the profit and loss account for the period	(70,681)		(70,681)

		At 31 March 2018	(120,613)	-	(120,613)

		Deferred tax asset (see note 3)

			2018		2017
			£		£
		Accelerated capital allowances	383,376		279,139
		Tax losses	(503,989)		(329,071)


			(120,613)		(49,932)

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

08840086

Its registered office is:

Beeston Lodge

Beeston Lane

Spixworth

Norwich

NR10 3TN