Ecowarm Energy Ltd

Ecowarm Energy Ltd

ECOWARM ENERGY LTD - Company Information

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1 June 2020 false No description of principal activity Taxfiler 2021.22.2 07385905business:PrivateLimitedCompanyLtd2020-06-012021-05-31 073859052020-05-31 073859052020-06-012021-05-31 07385905business:AuditExemptWithAccountantsReport2020-06-012021-05-31 07385905business:FullAccounts2020-06-012021-05-31 073859052021-05-31 07385905business:Director12020-06-012021-05-31 07385905business:RegisteredOffice2020-06-012021-05-31 073859052020-05-31 07385905core:WithinOneYear2021-05-31 07385905core:WithinOneYear2020-05-31 07385905core:AfterOneYear2021-05-31 07385905core:AfterOneYear2020-05-31 07385905core:ShareCapital2021-05-31 07385905core:ShareCapital2020-05-31 07385905core:RevaluationReserve2021-05-31 07385905core:RevaluationReserve2020-05-31 07385905core:RetainedEarningsAccumulatedLosses2021-05-31 07385905core:RetainedEarningsAccumulatedLosses2020-05-31 07385905business:SmallEntities2020-06-012021-05-31 07385905countries:EnglandWales2020-06-012021-05-31 07385905core:PlantMachinery2020-06-012021-05-31 07385905core:MotorVehicles2020-06-012021-05-31 07385905core:FurnitureFittings2020-06-012021-05-31 07385905core:ComputerEquipment2020-06-012021-05-31 07385905core:PlantMachinery2020-05-31 07385905core:MotorVehicles2020-05-31 07385905core:ComputerEquipment2020-05-31 07385905core:PlantMachinery2021-05-31 07385905core:MotorVehicles2021-05-31 07385905core:ComputerEquipment2021-05-31 07385905business:Director112020-06-012021-05-31 07385905business:Director112020-05-31 07385905business:Director112021-05-31 073859052019-06-012020-05-31 iso4217:GBP xbrli:pure
Company Registration No. 07385905 (England and Wales)
Ecowarm Energy Ltd Unaudited accounts for the year ended 31 May 2021
Ecowarm Energy Ltd Unaudited accounts Contents
Page
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Ecowarm Energy Ltd Company Information for the year ended 31 May 2021
Director
Mr Sokol Mesi
Company Number
07385905 (England and Wales)
Registered Office
Barlow Road Aldermans Green Industrial Estate Coventry CV2 2LD
Accountants
M D James Accounting Ltd 65 Purcell Road Courthouse Green Coventry West Midlands CV6 7JY
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Ecowarm Energy Ltd Accountants' report
Accountants' report to the director of Ecowarm Energy Ltd on the preparation of the unaudited statutory accounts for the year ended 31 May 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ecowarm Energy Ltd for the year ended 31 May 2021 as set out on pages 5 - 8 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 of Ecowarm Energy Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Ecowarm Energy Ltd 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 Ecowarm Energy Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ecowarm Energy Ltd 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 of Ecowarm Energy Ltd. You consider that Ecowarm Energy Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ecowarm Energy Ltd. 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.
M D James Accounting Ltd 65 Purcell Road Courthouse Green Coventry West Midlands CV6 7JY 24 February 2022
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Ecowarm Energy Ltd Statement of financial position as at 31 May 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
93,646 
107,329 
Investment property
5
421,501 
385,208 
515,147 
492,537 
Current assets
Inventories
600 
960 
Debtors
6
16,189 
19,587 
Cash at bank and in hand
138,534 
140,328 
155,323 
160,875 
Creditors: amounts falling due within one year
7
(203,643)
(69,270)
Net current (liabilities)/assets
(48,320)
91,605 
Total assets less current liabilities
466,827 
584,142 
Creditors: amounts falling due after more than one year
8
(40,000)
(175,319)
Provisions for liabilities
Deferred tax
(1,834)
(6,380)
Net assets
424,993 
402,443 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
51,905 
15,612 
Profit and loss account
372,988 
386,731 
Shareholders' funds
424,993 
402,443 
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 February 2022 and were signed on its behalf by
Mr Sokol Mesi Director Company Registration No. 07385905
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Ecowarm Energy Ltd Notes to the Accounts for the year ended 31 May 2021
1
Statutory information
Ecowarm Energy Ltd is a private company, limited by shares, registered in England and Wales, registration number 07385905. The registered office is Barlow Road, Aldermans Green Industrial Estate, Coventry, CV2 2LD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
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 also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and investments.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
20% straight line
Fixtures & fittings
33.3% straight line
Computer equipment
33.3% straight line
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Ecowarm Energy Ltd Notes to the Accounts for the year ended 31 May 2021
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2020
9,650 
190,968 
12,041 
212,659 
Additions
3,878 
15,250 
1,929 
21,057 
At 31 May 2021
13,528 
206,218 
13,970 
233,716 
Depreciation
At 1 June 2020
2,768 
91,726 
10,836 
105,330 
Charge for the year
2,319 
31,327 
1,094 
34,740 
At 31 May 2021
5,087 
123,053 
11,930 
140,070 
Net book value
At 31 May 2021
8,441 
83,165 
2,040 
93,646 
At 31 May 2020
6,882 
99,242 
1,205 
107,329 
5
Investment property
2021 
£ 
Fair value at 1 June 2020
385,208 
Net gain from fair value adjustments
36,293 
At 31 May 2021
421,501 
Directors market value adjustment - no adjustment prior year due to Covid restrictions
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other debtors
16,189 
19,587 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
102,866 
21,762 
VAT
(6,520)
- 
Obligations under finance leases and hire purchase contracts
42,277 
11,559 
Trade creditors
3,244 
3,522 
Taxes and social security
36,040 
22,548 
Other creditors
26,591 
- 
Loans from directors
(7,011)
6,217 
Accruals
6,156 
3,662 
203,643 
69,270 
8
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
40,000 
137,869 
Obligations under finance leases and hire purchase contracts
- 
37,450 
40,000 
175,319 
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Ecowarm Energy Ltd Notes to the Accounts for the year ended 31 May 2021
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Advance
- 
7,011 
- 
7,011 
- 
7,011 
- 
7,011 
Advances to Directors are tax free and repayable on demand
10
Transactions with related parties
Current Liabilities include a loan from Eco Link Ltd (Formerly Eco Grab Limited) in the amount of £26,592 Prior year balance included a loan to Eco Grab Ltd in the amount of £5,658 Eco Link Ltd is a company under common ownership A loan in the amount of £2,000 was made to Mr Insulation Limited Mr Insulation Limited is a company under common ownership No interest is charged in respect of these loans. These loans are repayable on demand.
11
Average number of employees
During the year the average number of employees was 3 (2020: 3).
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