Saveenergy-now Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07404158 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SAVEENERGY-NOW LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Allen

J E Allen

REGISTERED OFFICE:

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

REGISTERED NUMBER:

07404158 (England and Wales)

ACCOUNTANTS:

MDG Business Associates Limited

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

FIXED ASSETS

Tangible assets

5

5,323

2,938

CURRENT ASSETS

Debtors

6

7,815

8,112

Cash at bank

20,507

15,236

28,322

23,348

CREDITORS

Amounts falling due within one year

7

33,894

13,741

NET CURRENT (LIABILITIES)/ASSETS

(5,572

)

9,607

TOTAL ASSETS LESS CURRENT LIABILITIES

(249

)

12,545

PROVISIONS FOR LIABILITIES

8

1,011

-

NET (LIABILITIES)/ASSETS

(1,260

)

12,545

CAPITAL AND RESERVES

Called up share capital

9

10

10

Retained earnings

(1,270

)

12,535

SHAREHOLDERS' FUNDS

(1,260

)

12,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 26 July 2022 and were signed on its behalf by:

J E Allen - Director

1.	STATUTORY INFORMATION

Saveenergy-now Ltd 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Subsequent to the year end, the global health crisis caused by Coronavirus (COVID-19) has had a significant impact on all businesses. The directors have assessed the potential impact of this uncertain situation on the company and do not consider that it will lead to any subsequent impairment of the reported amount of the value of assets. Contingency plans have been put in place in order to mitigate the negative effects of any period of interrupted trading, which will enable the company to continue as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on 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 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.

Other grants relating to covid-19

Eligible businesses that were forced to close due to the government lockdown of specific businesses during the COVID-19 pandemic were entitled to a cash grant from their local council for each period under national restrictions.

The coronavirus job retention scheme

The Coronavirus Job Retention Scheme (CJRS) is a government wage support measure. It is designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic, and to support employers to continue paying wages. The CJRS allows employers to reclaim up to 80% of the wage costs of 'furloughed employees,' being those directly impacted by the pandemic, up to a cap of £2,500 per month per employee.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2021

1,335

10,000

1,649

12,984

Additions

2,157

-

1,382

3,539

At 31 December 2021

3,492

10,000

3,031

16,523

Depreciation

At 1 January 2021

1,039

7,627

1,380

10,046

Charge for year

332

593

229

1,154

At 31 December 2021

1,371

8,220

1,609

11,200

Net book value

At 31 December 2021

2,121

1,780

1,422

5,323

At 31 December 2020

296

2,373

269

2,938

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

7,262

151

VAT

-

6,975

Prepayments

553

986

7,815

8,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

76

77

Corporation tax

8,237

5,866

Social security and other taxes

144

144

VAT

3,878

-

Director's loan accounts

20,559

6,624

Accrued expenses

1,000

1,030

33,894

13,741

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

1,011

-

Deferred

tax

£

Capital allowances in excess

of depreciation

1,011

Balance at 31 December 2021

1,011

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

10

Ordinary

£1

10

10

10.	RELATED PARTY DISCLOSURES

Included within creditors is an amount of £18,559 (2020: £6,624) due to J E Allen, director. No interest has been charged on this balance during the year (2020: £Nil) and there are no set repayment terms.

Included within creditors is an amount of £2,000 (2020: £Nil) due to J C Allen, director. No interest has been charged on this balance during the year (2020: £Nil) and there are no set repayment terms.