I-Gen Energy Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07135339 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

I-GEN ENERGY LIMITED

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTOR:

Mr P J Hewart

REGISTERED OFFICE:

3rd Floor Broadstone Mill

Broadstone Road

Stockport

Greater Manchester

SK5 7DL

REGISTERED NUMBER:

07135339 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

The director presents his report with the financial statements of the company for the year ended 30 June 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the supply and installation of solar panels.

DIRECTOR

Mr P J Hewart held office during the whole of the period from 1 July 2021 to the date of this report.

His beneficial interests in the shares of the company, according to the register of directors' interests, were as follows:

30.6.22

1.7.21

Ordinary A shares of £1 each

100

100

He did not hold any beneficial interests in the Ordinary B shares of £1 each.

He did not hold any non-beneficial interests in any of the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr P J Hewart - Director

28 March 2023

FIXED ASSETS

Tangible assets

4

21,355

7,991

CURRENT ASSETS

Debtors

5

1,221,982

502,855

Cash at bank

813,320

271,044

2,035,302

773,899

CREDITORS

Amounts falling due within one year

6

(620,996

)

(222,447

)

NET CURRENT ASSETS

1,414,306

551,452

TOTAL ASSETS LESS CURRENT LIABILITIES

1,435,661

559,443

PROVISIONS FOR LIABILITIES

(4,057

)

(1,518

)

NET ASSETS

1,431,604

557,925

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,431,404

557,725

SHAREHOLDERS' FUNDS

1,431,604

557,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2023 and were signed by:

Mr P J Hewart - Director

1.	STATUTORY INFORMATION

I-Gen Energy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2021

8,957

11,087

7,749

27,793

Additions

243

20,490

3,092

23,825

Disposals

-

(11,087

)

-

(11,087

)

At 30 June 2022

9,200

20,490

10,841

40,531

DEPRECIATION

At 1 July 2021

6,790

7,579

5,433

19,802

Charge for year

480

5,123

1,350

6,953

Eliminated on disposal

-

(7,579

)

-

(7,579

)

At 30 June 2022

7,270

5,123

6,783

19,176

NET BOOK VALUE

At 30 June 2022

1,930

15,367

4,058

21,355

At 30 June 2021

2,167

3,508

2,316

7,991

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

1,151,138

459,736

Other debtors

70,844

43,119

1,221,982

502,855

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade creditors

307,102

85,324

Taxation and social security

247,698

79,691

Other creditors

66,196

57,432

620,996

222,447

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.22

30.6.21

£

£

Within one year

3,918

7,255

Between one and five years

-

2,349

3,918

9,604

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.