ENERSOFT INTERNATIONAL LIMITED 28/02/2021 iXBRL

ENERSOFT INTERNATIONAL LIMITED - Company Information

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Company registration number: SC621728

ENERSOFT INTERNATIONAL LIMITED

Unaudited filleted financial statements

28 February 2021

GRANTS

Accountants and Tax Advisors

ENERSOFT INTERNATIONAL LIMITED

Contents

Directors and other information

Accountants report

Balance sheet

Notes to the financial statements

ENERSOFT INTERNATIONAL LIMITED

Directors and other information


	Directors	Rebecca Quinn Hansen
		Kailie Christine Quinn


	Company number	SC621728


	Registered office	Suite 7-4
		74 York Street
		Glasgow
		G2 8JX


	Accountants	GRANTS
		Accountants and Tax Advisors
		Moncrieff House
		69 West Nile Street
		Glasgow
		G1 2QB

ENERSOFT INTERNATIONAL LIMITED

Report to the board of directors on the preparation of the

unaudited statutory financial statements of ENERSOFT INTERNATIONAL LIMITED

Year ended 28 February 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts for the year ended 28 February 2021 as set out from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than that of the company and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss.

We have not been instructed to carry out an audit or a review of the accounts and for this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

GRANTS

Accountants and Tax Advisors

Moncrieff House

69 West Nile Street

Glasgow

G1 2QB

5 October 2021

ENERSOFT INTERNATIONAL LIMITED

Balance sheet

28 February 2021

		28/02/21		28/02/20
	Note	£	£	£	£

Fixed assets
Intangible assets	5	14,300		18,700
Tangible assets	6	6,481		2,197
		_______		_______
			20,781		20,897

Current assets
Debtors	7	1,549		21,370
Cash at bank and in hand		4,827		5,495
		_______		_______
		6,376		26,865
Creditors: amounts falling due
within one year	8	( 108,538)		( 70,157)
		_______		_______
Net current liabilities			( 102,162)		( 43,292)
			_______		_______
Total assets less current liabilities			( 81,381)		( 22,395)

Creditors: amounts falling due
after more than one year	9		( 50,000)		-
			_______		_______
Net liabilities			( 131,381)		( 22,395)
			_______		_______

Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			( 141,381)		( 32,395)
			_______		_______
Shareholders deficit			( 131,381)		( 22,395)
			_______		_______

For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 October 2021 , and are signed on behalf of the board by:

Rebecca Quinn Hansen

Director

Company registration number: SC621728

ENERSOFT INTERNATIONAL LIMITED

Notes to the financial statements

Year ended 28 February 2021

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 7-4, 74 York Street, Glasgow, G2 8JX.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

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

Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Website costs	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Computer equipment	-	33.33 %	straight line
Office equipment	-	20.00 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Staff costs

The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).

The aggregate payroll costs incurred during the year were:

	Year	Period
	ended	ended
	28/02/21	28/02/20
	£	£
Wages and salaries	111,796	73,538
Other pension costs	2,476	1,252
	_______	_______
	114,272	74,790
	_______	_______

5. Intangible assets

	Website costs	Total
	£	£
Cost
At 29 February 2020 and 28 February 2021	22,000	22,000
	_______	_______
Amortisation
At 29 February 2020	3,300	3,300
Charge for the year	4,400	4,400
	_______	_______
At 28 February 2021	7,700	7,700
	_______	_______
Carrying amount
At 28 February 2021	14,300	14,300
	_______	_______
At 28 February 2020	18,700	18,700
	_______	_______

6. Tangible assets

	Computer equipment	Office equipment	Total
	£	£	£
Cost
At 29 February 2020	2,899	-	2,899
Additions	5,949	923	6,872
	_______	_______	_______
At 28 February 2021	8,848	923	9,771
	_______	_______	_______
Depreciation
At 29 February 2020	702	-	702
Charge for the year	2,450	138	2,588
	_______	_______	_______
At 28 February 2021	3,152	138	3,290
	_______	_______	_______
Carrying amount
At 28 February 2021	5,696	785	6,481
	_______	_______	_______
At 28 February 2020	2,197	-	2,197
	_______	_______	_______

7. Debtors

	28/02/21	28/02/20
	£	£
Trade debtors	-	12,720
Other debtors	1,549	8,650
	_______	_______
	1,549	21,370
	_______	_______

8. Creditors: amounts falling due within one year

	28/02/21	28/02/20
	£	£
Social security and other taxes	3,297	3,389
Other creditors	105,241	66,768
	_______	_______
	108,538	70,157
	_______	_______

9. Creditors: amounts falling due after more than one year

	28/02/21	28/02/20
	£	£
Other creditors	50,000	-
	_______	_______

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

Year ended 28/02/21
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Rebecca Quinn Hansen	575	( 13,521)	( 575)	( 13,521)
	Kailie Christine Quinn	-	( 9,375)	-	( 9,375)
		_______	_______	_______	_______
		575	( 22,896)	( 575)	( 22,896)
		_______	_______	_______	_______