Sonas Energy Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC441200 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

SONAS ENERGY LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Dr D W Telford

REGISTERED OFFICE:

5 Military Drive

Portpatrick

Stranraer

Wigtownshire

DG9 8LR

REGISTERED NUMBER:

SC441200 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

1,024

Tangible assets

4

808

CURRENT ASSETS

1,010

Stocks

-

18,160

Debtors

5

5,304

41,957

Cash at bank

12,954

61,127

18,258

CREDITORS

31,638

Amounts falling due within one year

6

3,230

29,489

NET CURRENT ASSETS

15,028

30,513

TOTAL ASSETS LESS CURRENT LIABILITIES

15,836

-

PROVISIONS FOR LIABILITIES

154

30,513

NET ASSETS

15,682

CAPITAL AND RESERVES

1,000

Called up share capital

1,000

29,513

Retained earnings

14,682

30,513

SHAREHOLDERS' FUNDS

15,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 26 March 2020 and were signed by:

Dr D W Telford - Director

1.	STATUTORY INFORMATION

Sonas Energy Ltd is a private company, limited by shares, registered in Scotland, registration number SC441200.

The registered office is 5 Military Drive, Portpatrick, Stranraer, Wigtownshire, DG9 8LR.

The principal activity of the company is hybrid energy systems.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the director is required to make judgements, estimates and assumptions

that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities,

income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are

reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates included in these accounts.

Turnover

Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of

any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Sale of goods

Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer,

recovery of the consideration is probable, the associated costs and possible return of goods can be estimated

reliably, there is no continuing management involvement with the goods, and the amount of revenue can be

measured reliably.

Services

Income from services is recognised when performed, such that risks and rewards have been transferred to the end

client.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprises cash balances.

Creditors

Short term trade creditors are measured at the transaction price.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current

market assessments of the time value of money and the risks specific to the liability. The unwinding of the

discount is recognised as finance 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

1,985

Additions

992

Disposals

(722

)

At 30 June 2019

2,255

DEPRECIATION

At 1 July 2018

961

Charge for year

967

Eliminated on disposal

(481

)

At 30 June 2019

1,447

NET BOOK VALUE

At 30 June 2019

808

At 30 June 2018

1,024

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,680

15,504

Other debtors

624

2,656

5,304

18,160

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

1,533

15,038

Other creditors

1,697

16,600

3,230

31,638

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £24,000 (2018 - £25,000) were paid to the director .