Hydrosense Renewables Limited 31/03/2018 iXBRL

Hydrosense Renewables Limited 31/03/2018 iXBRL

HYDROSENSE RENEWABLES LIMITED - Company Information

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Company registration number: 8240953
Hydrosense Renewables Limited
Unaudited filleted financial statements
31 March 2018
HYDROSENSE RENEWABLES LIMITED
Contents
Statement of financial position
Notes to the financial statements
HYDROSENSE RENEWABLES LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2018
2018 2017
Note £ £ £ £
Fixed assets
Investments 5 1 1
_______ _______
1 1
Current assets
Stocks 797,257 227,129
Debtors 6 547,281 17,683
Cash at bank and in hand 1,731 516
_______ _______
1,346,269 245,328
Creditors: amounts falling due
within one year 7 ( 1,504,694) ( 358,682)
_______ _______
Net current liabilities ( 158,425) ( 113,354)
_______ _______
Total assets less current liabilities ( 158,424) ( 113,353)
_______ _______
Net liabilities ( 158,424) ( 113,353)
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 8 ( 158,428) ( 113,357)
_______ _______
Shareholders deficit ( 158,424) ( 113,353)
_______ _______
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 March 2019 , and are signed on behalf of the board by:
Mr Pete Kibel
Director
Company registration number: 8240953
HYDROSENSE RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 26-28 Southernhay East, Exeter, Devon, EX1 1NS.
Principal activity
The principal activity of the company is obtaining consents for sites that will generate electricity.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
Financial instruments
Basic financial instruments are recognised at cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2017: 4 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2017 and 31 March 2018 1 1
_______ _______
Impairment
At 1 April 2017 and 31 March 2018 - -
_______ _______
Carrying amount
At 31 March 2018 1 1
_______ _______
At 31 March 2017 1 1
_______ _______
6. Debtors
2018 2017
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 505,579 -
Other debtors 41,702 17,683
_______ _______
547,281 17,683
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts 275,000 -
Trade creditors 34,648 81,158
Accruals and deferred income 30,819 18,197
Other creditors 1,164,227 259,327
_______ _______
1,504,694 358,682
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2018 2017
£ £
Mr Ben Kibel 296 296
_______ _______