Hydrosense Renewables Limited 31/03/2022 iXBRL

HYDROSENSE RENEWABLES LIMITED - Company Information

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Company registration number: 8240953

Hydrosense Renewables Limited

Unaudited filleted financial statements

31 March 2022

Hydrosense Renewables Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Hydrosense Renewables Limited

Directors and other information


	Directors	Mr Ben Kibel
		Mr Pete Kibel
		Mr David Mann
		Mr Stephen Rule


	Company number	8240953


	Registered office	26-28 Southernhay East
		Exeter
		Devon
		EX1 1NS


	Business address	Unit 3D
		Betton Way
		Moretonhampstead
		TQ13 8NA


	Accountants	Westcotts
		26-28 Southernhay East
		Exeter
		Devon
		EX1 1NS

Hydrosense Renewables Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Hydrosense Renewables Limited

Year ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hydrosense Renewables Limited for the year ended 31 March 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Hydrosense Renewables Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hydrosense Renewables Limited and state those matters that we have agreed to state to the board of directors of Hydrosense Renewables Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hydrosense Renewables Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Hydrosense Renewables Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hydrosense Renewables Limited. You consider that Hydrosense Renewables Limited 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 financial statements of Hydrosense Renewables Limited. 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 financial statements.

Westcotts

Chartered Accountants

26-28 Southernhay East

Exeter

Devon

EX1 1NS

27 March 2023

Hydrosense Renewables Limited

Statement of financial position

31 March 2022

As restated

		2022		2021
	Note	£	£	£	£

Fixed assets
Investments	5	1		1
		_______		_______
			1		1

Current assets
Stocks		154,133		152,633
Debtors	6	363,777		467,863
Cash at bank and in hand		658		632
		_______		_______
		518,568		621,128
Creditors: amounts falling due
within one year	8	( 1,436,918)		( 1,214,624)
		_______		_______
Net current liabilities			( 918,350)		( 593,496)
			_______		_______
Total assets less current liabilities			( 918,349)		( 593,495)

			_______		_______
Net liabilities			( 918,349)		( 593,495)
			_______		_______

Capital and reserves
Called up share capital			4		4
Profit and loss account			( 918,353)		( 593,499)
			_______		_______
Shareholders deficit			( 918,349)		( 593,495)
			_______		_______

For the year ending 31 March 2022 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 Section 1A of 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 27 March 2023 , and are signed on behalf of the board by:

Mr Pete Kibel

Director

Company registration number: 8240953

Hydrosense Renewables Limited

Notes to the financial statements

Year ended 31 March 2022

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.

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

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Principal activity

The principal activity of the company is obtaining consents for sites that will generate electricity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2021: 4 ).

5. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 April 2021 and 31 March 2022	1	1
	_______	_______
Impairment
At 1 April 2021 and 31 March 2022	-	-
	_______	_______
Carrying amount
At 31 March 2022	1	1
	_______	_______
At 31 March 2021	1	1
	_______	_______

6. Debtors

	2022	2021
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	242,061	354,964
Other debtors	121,716	112,899
	_______	_______
	363,777	467,863
	_______	_______

7. Cash and cash equivalents

	2022	2021
	£	£
Cash at bank and in hand	658	632
	_______	_______

8. Creditors: amounts falling due within one year

As restated

	2022	2021
	£	£
Bank loans and overdrafts	125,000	95,000
Trade creditors	175	( 54)
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,101,681	1,043,113
Social security and other taxes	17,654	16,514
Other creditors	192,408	60,051
	_______	_______
	1,436,918	1,214,624
	_______	_______

9. Prior period errors

The accounts have been restated to correct the allocation of payments made to a related company from intercompany loan to payments under an insurance agreement. The change has resulted in the retained losses at 31 March 2021 increasing by a total of £55,000 from £538,499 to £593,499. £55,000 is broken down as charges of £30,000 in the year to 31 March 2020 and £25,000 in the year to 31 March 2021.

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2022
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Directors	-	-	-
		_______	_______	_______

2021
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Directors	34,704	( 34,704)	-
		_______	_______	_______

11. Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.