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

REGISTERED NUMBER: SC383289 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

Accord Energy Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Arthur

P J Stockton

A A Spence

G G Inglis

R Mackenzie

REGISTERED OFFICE:

58 Carden Place

Aberdeen

AB10 1UP

REGISTERED NUMBER:

SC383289 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Tangible assets

4

638,290

654,127

Investments

5

527

-

638,817

654,127

CURRENT ASSETS

Debtors

6

1,106,713

1,011,620

Cash at bank and in hand

1,146,985

666,768

2,253,698

1,678,388

CREDITORS

Amounts falling due within one year

7

656,817

456,299

NET CURRENT ASSETS

1,596,881

1,222,089

TOTAL ASSETS LESS CURRENT LIABILITIES

2,235,698

1,876,216

PROVISIONS FOR LIABILITIES

14,637

12,995

NET ASSETS

2,221,061

1,863,221

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Retained earnings

2,218,061

1,860,221

SHAREHOLDERS' FUNDS

2,221,061

1,863,221

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2021 and were signed on its behalf by:

G G Inglis - Director

1.	STATUTORY INFORMATION

Accord Energy Solutions Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Freehold property 4% on cost

Land and buildings Leasehold 33% on cost

Computer equipment 25% on cost

Fixtures, fittings & equipment 10-25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 34 (2019 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Fixtures,fittings

Computer

property

& equipment

equipment

Totals

£

£

£

£

COST

At 1 September 2019

605,996

52,093

90,554

748,643

Additions

-

960

39,240

40,200

At 31 August 2020

605,996

53,053

129,794

788,843

DEPRECIATION

At 1 September 2019

24,240

27,079

43,197

94,516

Charge for year

24,240

5,161

26,636

56,037

At 31 August 2020

48,480

32,240

69,833

150,553

NET BOOK VALUE

At 31 August 2020

557,516

20,813

59,961

638,290

At 31 August 2019

581,756

25,014

47,357

654,127

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

527

At 31 August 2020

527

NET BOOK VALUE

At 31 August 2020

527

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Accord Energy Solutions Australia PTY Ltd

Registered office: Level 3, 88 William Street, Perth, WA 6000

Nature of business: Oil and gas

%

Class of shares:

holding

Ordinary

100.00

30.6.20

£

Aggregate capital and reserves

31,663

Profit for the year

42,931

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

1,066,664

985,146

Other debtors

40,049

26,474

1,106,713

1,011,620

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade creditors

223,895

82,107

Taxation and social security

385,771

327,302

Other creditors

47,151

46,890

656,817

456,299

8.	RELATED PARTY DISCLOSURES

Included within other debtors is a loan of £16,235 due from Accord Energy Solutions Limited Australia Pty, a subsidiary fully owned by Accord Energy Solutions Ltd.