Consumer Rights Energy Limited
Consumer Rights Energy Limited
Registered number: 13562914
Unaudited Financial Statements
For the Period
12 August 2021
to
31 August 2022
Consumer Rights Energy Limited
Unaudited Financial Statements
For the Period
12 August 2021
to
31 August 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Consumer Rights Energy Limited
Balance Sheet
As at
31 August 2022
Balance Sheet
Registered number:
13562914
For the period ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 31 August 2022 | |||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| NET LIABILITIES |
( |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 5 |
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| Profit and Loss Account |
( |
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| SHAREHOLDERS' FUNDS | (33,574) | ||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Consumer Rights Energy Limited
Notes to the Financial Statements
For the Period
12 August 2021
to
31 August 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
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.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8
3.
Debtors
| 31 August 2022 | |
|---|---|
| £ | |
| Due within one year | |
| Deferred tax current asset | 7,595 |
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4.
Creditors: Amounts Falling Due Within One Year
| 31 August 2022 | |
|---|---|
| £ | |
| Trade creditors |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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Consumer Rights Energy Limited
Notes to the Financial Statements (continued)
For the Period
12 August 2021
to
31 August 2022
6.
Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
7.
Related Party Transactions
The following related party transactions were undertaken during the period:
The director of the company made drawings totalling £21,111 and introduced monies totalling £24,369. At the balance sheet date the director was owed £3,258.
The aggregate remuneration paid to key management personnel for the year was £9,000.
No dividends were paid to directors or shareholders during the period.
A Company under common control engaged in the following related party transactions during the year. Consumer Rights Energy repaid amounts totalling £100 and received amounts totalling £31,058. At the balance sheet date the company owed £30,958 to the company under common control.
8.
Going Concern
The company is able to meet it's day to day working capital requirements through the support of the director. Therefore the director considers it appropriate to prepare financial statements on the going concern basis.
9.
General Information
Consumer Rights Energy Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
13562914
. The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.