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 2022

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

Tangible assets

4

66,055

68,037

CURRENT ASSETS

Stocks

63,484

41,846

Debtors

5

159,093

157,677

Cash at bank and in hand

108,574

99,052

331,151

298,575

CREDITORS

Amounts falling due within one year

6

176,253

169,370

NET CURRENT ASSETS

154,898

129,205

TOTAL ASSETS LESS CURRENT LIABILITIES

220,953

197,242

CREDITORS

Amounts falling due after more than one year

7

(71,395

)

(79,854

)

PROVISIONS FOR LIABILITIES

(2,868

)

(5,942

)

NET ASSETS

146,690

111,446

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

146,540

111,296

SHAREHOLDERS' FUNDS

146,690

111,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 22 August 2022 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2021 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

Computer

machinery

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2021

1,892

4,009

115,055

4,794

125,750

Additions

-

-

31,015

1,261

32,276

Disposals

-

-

(31,717

)

-

(31,717

)

At 31 January 2022

1,892

4,009

114,353

6,055

126,309

DEPRECIATION

At 1 February 2021

1,392

2,259

49,826

4,236

57,713

Charge for year

100

264

19,836

805

21,005

Eliminated on disposal

-

-

(18,464

)

-

(18,464

)

At 31 January 2022

1,492

2,523

51,198

5,041

60,254

NET BOOK VALUE

At 31 January 2022

400

1,486

63,155

1,014

66,055

At 31 January 2021

500

1,750

65,229

558

68,037

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Motor

vehicles

£

COST

At 1 February 2021

48,106

Additions

31,015

At 31 January 2022

79,121

DEPRECIATION

At 1 February 2021

12,026

Charge for year

16,774

At 31 January 2022

28,800

NET BOOK VALUE

At 31 January 2022

50,321

At 31 January 2021

36,080

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

77,225

88,018

Other debtors

10,980

5,408

Tax

28,698

19,189

VAT

22,755

4,580

Prepayments

19,435

40,482

159,093

157,677

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Other loans

19,133

24,364

Hire purchase contracts and finance leases

13,694

7,180

Trade creditors

88,386

81,645

Tax

14,627

13,409

Social security and other taxes

1,156

7,200

Other creditors

503

122

Directors' current accounts

34,249

34,450

Accrued expenses

4,505

1,000

176,253

169,370

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Other loans - 1-2 years

10,000

17,183

Other loans - 2-5 years

23,333

33,333

Hire purchase contracts and finance leases

38,062

29,338

71,395

79,854

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Roper.

At the period end date the company owed the director £34,249, (2021, £34,450).