NRG Power Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04648165 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

NRG Power Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

N Thomson

D Harding

REGISTERED OFFICE:

864 Christchurch Road

Bournemouth

Dorset

BH7 6DQ

REGISTERED NUMBER:

04648165 (England and Wales)

ACCOUNTANTS:

LJB Chartered Certified Accountants

Tax & Business Advisors

864 Christchurch Road

Bournemouth

Dorset

BH7 6DQ

FIXED ASSETS

Intangible assets

4

-

9,000

Property, plant and equipment

5

135,019

125,010

135,019

134,010

CURRENT ASSETS

Inventories

5,769

5,495

Debtors

6

288,866

435,138

Investments

7

73,023

76,000

Cash at bank and in hand

405,364

310,894

773,022

827,527

CREDITORS

Amounts falling due within one year

8

82,709

154,081

NET CURRENT ASSETS

690,313

673,446

TOTAL ASSETS LESS CURRENT LIABILITIES

825,332

807,456

PROVISIONS FOR LIABILITIES

4,943

2,936

NET ASSETS

820,389

804,520

CAPITAL AND RESERVES

Called up share capital

89

100

Capital redemption reserve

11

-

Retained earnings

820,289

804,420

SHAREHOLDERS' FUNDS

820,389

804,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 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 Board of Directors and authorised for issue on 10 July 2020 and were signed on its behalf by:

N Thomson - Director

1.	STATUTORY INFORMATION

NRG Power Systems Limited is a private company, limited by shares , registered in England and Wales. 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 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Stocks

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

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2019

9,000

Impairments

(9,000

)

At 31 January 2020

-

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

9,000

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2019

110,663

49,891

160,554

Additions

-

19,233

19,233

At 31 January 2020

110,663

69,124

179,787

DEPRECIATION

At 1 February 2019

1,107

34,437

35,544

Charge for year

553

8,671

9,224

At 31 January 2020

1,660

43,108

44,768

NET BOOK VALUE

At 31 January 2020

109,003

26,016

135,019

At 31 January 2019

109,556

15,454

125,010

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

51,491

139,665

Other debtors

237,375

295,473

288,866

435,138

7.	CURRENT ASSET INVESTMENTS

31.1.20

31.1.19

£

£

Listed investments

73,023

76,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

8,925

32,013

Taxation and social security

40,732

66,243

Other creditors

33,052

55,825

82,709

154,081

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2020 and

31 January 2019:

31.1.20

31.1.19

£

£

N Thomson

Balance outstanding at start of year

67,042

65,902

Amounts advanced

-

188,075

Amounts repaid

(58,381

)

(186,935

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,661

67,042

10.	RELATED PARTY DISCLOSURES

During the year the company was charged £23,750 (2019: £Nil) in respect of services provided by NRG Operations

Limited, a company in which Mr N Thomson and Mr D Harding are directors and shareholders.

During the year the company charged interest to NRG Operations Limited calculated at 2% above bank base rate

amounting to £5,972 (2019: £4,886) in respect of the loan balance between the two companies.

At the year end the company was owed £210,706 (2019: £210,643) by NRG Operations Limited.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Thomson.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors

are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of NRG Power Systems Limited for the year ended 31 January 2020 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of NRG Power Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NRG Power Systems Limited and state those matters that we have agreed to state to the Board of Directors of NRG Power Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NRG Power Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NRG Power Systems Limited. You consider that NRG Power Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NRG Power Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

LJB Chartered Certified Accountants

Tax & Business Advisors

864 Christchurch Road

Bournemouth

Dorset

BH7 6DQ

10 July 2020