Hydrosense Renewables Limited 31/03/2021 iXBRL

Hydrosense Renewables Limited 31/03/2021 iXBRL

HYDROSENSE RENEWABLES LIMITED - Company Information

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Company registration number: 8240953
Hydrosense Renewables Limited
Unaudited filleted financial statements
31 March 2021
HYDROSENSE RENEWABLES LIMITED
Contents
Statement of financial position
Notes to the financial statements
HYDROSENSE RENEWABLES LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2021
2021 2020
Note £ £ £ £
Fixed assets
Investments 5 1 1
_______ _______
1 1
Current assets
Stocks 152,633 152,633
Debtors 6 522,863 784,913
Cash at bank and in hand 632 2,327
_______ _______
676,128 939,873
Creditors: amounts falling due
within one year 7 ( 1,214,624) ( 1,367,183)
_______ _______
Net current liabilities ( 538,496) ( 427,310)
_______ _______
Total assets less current liabilities ( 538,495) ( 427,309)
_______ _______
Net liabilities ( 538,495) ( 427,309)
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 8 ( 538,499) ( 427,313)
_______ _______
Shareholders deficit ( 538,495) ( 427,309)
_______ _______
For the year ending 31 March 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 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 December 2021 , and are signed on behalf of the board by:
Mr David Mann
Director
Company registration number: 8240953
HYDROSENSE RENEWABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 26-28 Southernhay East, Exeter, Devon, EX1 1NS.
Principal activity
The principal activity of the company is obtaining consents for sites that will generate electricity.
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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
Financial instruments
Basic financial instruments are recognised at cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2020 and 31 March 2021 1 1
_______ _______
Impairment
At 1 April 2020 and 31 March 2021 - -
_______ _______
Carrying amount
At 31 March 2021 1 1
_______ _______
At 31 March 2020 1 1
_______ _______
6. Debtors
2021 2020
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 409,964 523,964
Other debtors 112,899 260,949
_______ _______
522,863 784,913
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 95,000 165,000
Trade creditors ( 54) ( 1,516)
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,043,113 998,581
Accruals and deferred income 76,565 85,977
Social security and other taxes (-) 119,141
_______ _______
1,214,624 1,367,183
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Loans to / (from) directors at 1 April 2020 Loans to / (from) the directors Amounts repaid Balance at 31 March 2021
£ £ £ £
Directors 34,704 - ( 34,704) -
_______ _______ _______ _______
Loans to / (from) directors at 1 April 2019 Loans to / (from) the directors Amounts repaid Balance at 31 March 2020
£ £ £ £
Directors ( 10,296) 45,000 - 34,704
_______ _______ _______ _______
Interest is charged at 2.5% on the entire balance where overdrawn balances exceed £10,000.