| Generator North East Limited |
| Registered number: |
03670235 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
2,000 |
|
|
2,500 |
| Tangible assets |
4 |
|
|
8,510 |
|
|
7,207 |
|
|
|
|
10,510 |
|
|
9,707 |
|
| Current assets |
| Debtors |
5 |
|
40,073 |
|
|
74,699 |
| Cash at bank and in hand |
|
|
216,170 |
|
|
218,245 |
|
|
|
256,243 |
|
|
292,944 |
|
| Creditors: amounts falling due within one year |
6 |
|
(110,672) |
|
|
(142,541) |
|
| Net current assets |
|
|
|
145,571 |
|
|
150,403 |
|
| Total assets less current liabilities |
|
|
|
156,081 |
|
|
160,110 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(35,480) |
|
|
(64,161) |
|
|
|
| Net assets |
|
|
|
120,601 |
|
|
95,949 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
120,601 |
|
|
95,949 |
|
| Shareholder's funds |
|
|
|
120,601 |
|
|
95,949 |
|
|
|
|
|
|
|
|
| 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 member has 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. |
|
|
|
|
| Mr M Ross |
| Director |
| Approved by the board on 28 February 2023 |
|
| Generator North East Limited |
| Notes to the Accounts |
| for the period from 1 June 2021 to 31 March 2022 |
|
|
| 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 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 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
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: |
|
|
Plant and Machinery |
15% Reducing balance |
|
Office Equipment |
15% Reducing balance |
|
Furniture and Fixtures |
15% Reducing balance |
|
|
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. |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
7 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Website: |
|
|
Cost |
|
At 1 June 2021 |
2,500 |
|
At 31 March 2022 |
2,500 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
Provided during the period |
500 |
|
At 31 March 2022 |
500 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
2,000 |
|
At 31 May 2021 |
2,500 |
|
|
|
|
|
|
|
|
|
|
Website is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
P&M / Office Equip. |
|
Furniture and Fixtures |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 June 2021 |
45,108 |
|
4,932 |
|
50,040 |
|
Additions |
2,059 |
|
261 |
|
2,320 |
|
At 31 March 2022 |
47,167 |
|
5,193 |
|
52,360 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2021 |
38,497 |
|
4,336 |
|
42,833 |
|
Charge for the period |
943 |
|
74 |
|
1,017 |
|
At 31 March 2022 |
39,440 |
|
4,410 |
|
43,850 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
7,727 |
|
783 |
|
8,510 |
|
At 31 May 2021 |
6,611 |
|
596 |
|
7,207 |
|
|
| 5 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
8,627 |
|
240 |
|
Prepayments |
|
|
|
|
2,250 |
|
147 |
|
Accrued Income |
|
|
|
|
24,760 |
|
74,272 |
|
Other debtors |
4,436 |
|
40 |
|
|
|
|
|
|
40,073 |
|
74,699 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans and overdrafts |
30,289 |
|
29,063 |
|
Deferred Income |
62,014 |
|
87,550 |
|
Trade creditors |
12,386 |
|
13,022 |
|
Taxation and social security costs |
4,526 |
|
4,288 |
|
Other creditors |
1,457 |
|
8,618 |
|
|
|
|
|
|
110,672 |
|
142,541 |
|
|
|
|
|
|
|
|
|
|
At the beginning of the accounts period, some grants were deferred from the previous accounting year totalling £60,000 due to projects not being able to be delivered due to the covid pandemic. During the period, £41,388 has been realised through the profit and loss to cover expenditure to deliver these projects. The balance of these deferred grants at the period end stands at £18,612.
There were additional grants brought forward at the beginning of the accounts period totalling £27,550 (£11,550 YM Restricted, £10,000 YM Micro Grants and £6,000 YM Core). During the period, a further £45,000 was deferred (YM Fund B) of which £29,148 has been realised (£8,707 YM Restricted, £7,000 YM Micro Grants, £6,000 YM Core and £7,441 YM Fund B). The balance at the end of the year was £43,402 (£2,843 YM Restricted, £3,000 YM Micro Grants and £37,559 YM Fund B). |
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
35,480 |
|
64,161 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Generator North East Limited is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
The Manse Priory Green |
|
Byker |
|
Newcastle Upon Tyne |
|
Tyne and Wear |
|
NE6 2DW |
