Trusted Energy Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07132824 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Trusted Energy Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Roper

SECRETARY:

Mrs C Roper

REGISTERED OFFICE:

4 Sherwood Network Centre

Sherwood Energy Village

Ollerton

Newark

Nottinghamshire

NG22 9FD

REGISTERED NUMBER:

07132824 (England and Wales)

ACCOUNTANTS:

ABC Accounting Services

Unit 1, Sandars Road

Heapham Rd Ind Estate

Gainsborough

Lincolnshire

DN21 1RZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,697

42,176

36,697

42,176

CURRENT ASSETS

Stocks

6,077

-

Debtors

6

155,185

41,965

Cash at bank and in hand

66,278

34,490

227,540

76,455

CREDITORS

Amounts falling due within one year

7

141,586

57,384

NET CURRENT ASSETS

85,954

19,071

TOTAL ASSETS LESS CURRENT LIABILITIES

122,651

61,247

CREDITORS

Amounts falling due after more than one year

8

(26,830

)

-

PROVISIONS FOR LIABILITIES

(6,835

)

(7,867

)

NET ASSETS

88,986

53,380

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

88,886

53,280

SHAREHOLDERS' FUNDS

88,986

53,380

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 director acknowledges his 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 and authorised for issue on 6 January 2021 and were signed by:

M J Roper - Director

1.	STATUTORY INFORMATION

Trusted Energy Solutions 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise costs are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets

The cost of the purchased franchise licence is capitalised on the basis of the cost incurred to acquire and develop the franchise band.

Amortisation is calculated using the straight - line method over its estimated useful life which is estimated to be 5 years.

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

-

20% on reducing balance

Office equipment

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

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 12 (2019 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

costs

£

COST

At 1 February 2019

and 31 January 2020

6,000

AMORTISATION

At 1 February 2019

and 31 January 2020

6,000

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

Computer

machinery

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2019

1,734

2,102

66,949

3,619

74,404

Additions

158

701

-

708

1,567

At 31 January 2020

1,892

2,803

66,949

4,327

75,971

DEPRECIATION

At 1 February 2019

1,110

1,488

26,605

3,025

32,228

Charge for year

157

308

6,052

529

7,046

At 31 January 2020

1,267

1,796

32,657

3,554

39,274

NET BOOK VALUE

At 31 January 2020

625

1,007

34,292

773

36,697

At 31 January 2019

624

614

40,344

594

42,176

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

116,838

40,553

Other debtors

439

439

Tax

11,665

-

VAT

24,005

-

Prepayments

2,238

973

155,185

41,965

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Other loans

14,987

-

Trade creditors

86,879

28,845

Tax

10,764

3,622

Social security and other taxes

6,946

5,082

VAT

-

125

Other creditors

101

36

Directors' current accounts

21,159

18,052

Accrued expenses

750

1,622

141,586

57,384

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Other loans - 1-2 years

17,697

-

Other loans - 2-5 years

9,133

-

26,830

-

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,850 were paid to the director .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Roper.

At the year end date the company owed the director £21,159, (2019, £18,052).