| Ceres Energy Limited |
| Registered number: |
06490828 |
| Balance Sheet |
| as at 31 December 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
27,823 |
|
|
32,875 |
| Investments |
4 |
|
|
2,977,988 |
|
|
3,001 |
|
|
|
|
3,005,811 |
|
|
35,876 |
|
| Current assets |
| Debtors |
5 |
|
9,306,362 |
|
|
1,410,181 |
| Cash at bank and in hand |
|
|
1,996,123 |
|
|
2,975,107 |
|
|
|
11,302,485 |
|
|
4,385,288 |
|
| Creditors: amounts falling due within one year |
6 |
|
(9,816,889) |
|
|
(1,768,311) |
|
| Net current assets |
|
|
|
1,485,596 |
|
|
2,616,977 |
|
| Total assets less current liabilities |
|
|
|
4,491,407 |
|
|
2,652,853 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(49,000) |
|
|
(49,000) |
|
| Provisions for liabilities |
|
|
|
(6,956) |
|
|
(6,246) |
|
| Net assets |
|
|
|
4,435,451 |
|
|
2,597,607 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
10,100 |
|
|
10,100 |
| Profit and loss account |
|
|
|
4,425,351 |
|
|
2,587,507 |
|
| Shareholders' funds |
|
|
|
4,435,451 |
|
|
2,597,607 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Helen Mary Edwards |
| Director |
| Approved by the board on 16 September 2022 |
|
| Ceres Energy Limited |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of services provided to customers.
Turnover is recognised as earned when, and to the extent that, the business obtains the right to consideration for its performance. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold property |
over the lease term |
|
Office and computer equipment |
25% straight line |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
16 |
|
14 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 January 2021 |
39,623 |
|
11,067 |
|
50,690 |
|
Additions |
- |
|
2,234 |
|
2,234 |
|
At 31 December 2021 |
39,623 |
|
13,301 |
|
52,924 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2021 |
14,198 |
|
3,617 |
|
17,815 |
|
Charge for the year |
3,962 |
|
3,324 |
|
7,286 |
|
At 31 December 2021 |
18,160 |
|
6,941 |
|
25,101 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2021 |
21,463 |
|
6,360 |
|
27,823 |
|
At 31 December 2020 |
25,425 |
|
7,450 |
|
32,875 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
Other |
| undertakings |
investments |
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 January 2021 |
- |
|
3,001 |
|
3,001 |
|
Additions |
2,974,987 |
|
- |
|
2,974,987 |
|
|
At 31 December 2021 |
2,974,987 |
|
3,001 |
|
2,977,988 |
|
|
| 5 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
6,749,270 |
|
1,173,600 |
|
Other debtors |
2,557,092 |
|
236,581 |
|
|
|
|
|
|
9,306,362 |
|
1,410,181 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
291,000 |
|
291,000 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade creditors |
8,927,052 |
|
932,514 |
|
Taxation and social security costs |
314,025 |
|
675,138 |
|
Other creditors |
575,812 |
|
160,659 |
|
|
|
|
|
|
9,816,889 |
|
1,768,311 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Other creditors |
49,000 |
|
49,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Pension commitments |
|
|
The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund.
At the year end the company had the following outstanding pension committments. |
|
|
|
|
|
|
|
2021 |
|
2020 |
| £ |
£ |
|
|
Other creditors |
3,468 |
|
4,911 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
During the year the company enterest into transactions, in the ordinary course of business, with other related parties. Transactions entered into and balances outstanding at 31 December, are as follows: |
|
|
|
|
|
|
|
2021 |
|
2020 |
| £ |
£ |
|
Directors |
|
Directors remuneration and pensions |
189,000 |
|
123,700 |
|
Amounts due to directors |
3,000 |
|
3,000 |
|
|
Subsidiary undertakings |
|
Services provided to company by related parties |
2,806,253 |
|
- |
|
Dividends received from related parties |
444,330 |
|
- |
|
Amounts due to related parties |
62 |
|
- |
|
|
Entities with significant influence over the company |
|
Amounts due from related parties |
15,883 |
|
7,918 |
|
Expenses incurred by company on behalf of related parties |
7,964 |
|
7,903 |
|
Services provided to company by related parties |
48,000 |
|
93,730 |
|
Amounts due to related parties |
- |
|
15,000 |
|
| 10 |
Controlling party |
|
|
In the opinion of the directors the controlling party is the director Helen Mary Edwards. |
|
|
| 11 |
Other information |
|
|
Ceres Energy Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
The Old Grammar School |
|
Hallgate |
|
Hexham |
|
Northumberland |
|
NE46 1XD |
