Tetra Energy Gamma Ltd - Period Ending 2022-12-31

Tetra Energy Gamma Ltd

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 6

Tetra Energy Gamma Ltd

Company Information

Directors

Charles Wood M Hawthorn

Registered office

57a Broadway Leigh-On-Sea Essex SS9 1PE

Accountants

Cameron & Associates Limited The Hour House 32 High Street Rickmansworth Hertfordshire WD3 1ER

Tetra Energy Gamma Ltd

(Registration number: 09655155)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed Assets
Investments	4	105,000	105,000
Current assets
Debtors	5	2,684,868	2,685,518
Cash at bank and in hand		1,013	1,085
		2,685,881	2,686,603
Creditors: Amounts falling due within one year	6	(780)	(2,955,220)
Net current assets/(liabilities)		2,685,101	(268,617)
Net assets/(liabilities)		2,790,101	(163,617)
capital and reserves
Called up share capital		1,000	1,000
Share premium reserve		1,099,200	1,099,200
Profit and loss account		1,689,901	(1,263,817)
Total equity		2,790,101	(163,617)

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

......................................... Charles Wood Director

Tetra Energy Gamma Ltd

Statement of Changes in Equity for the Year Ended 31 December 2022

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 January 2022	1,000	1,099,200	(1,263,817)	(163,617)
Profit for the year	-	-	2,953,718	2,953,718
At 31 December 2022	1,000	1,099,200	1,689,901	2,790,101

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 January 2021	1,000	1,099,200	(1,262,513)	(162,313)
Loss for the year	-	-	(1,304)	(1,304)
At 31 December 2021	1,000	1,099,200	(1,263,817)	(163,617)

Tetra Energy Gamma Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Corfe Resources Limited.

The address of its registered office is:
57a Broadway
Leigh-On-Sea
Essex
SS9 1PE
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

Corfe Resources Limited is the parent company of a group which qualifies as small under section 383 of the Companies Act 2006 and has therefore applied the exemption available under section 399 (2A) of that Act not to prepare group accounts..

Going concern

Based on a review of the Company's budgets and cash flows and given that the Company’s major shareholder has undertaken to continue to provide the funds necessary for any obligations and other expenditures into which the Company has entered and intends to enter, the Directors consider that there is sufficient cash available to maintain the Company as a going concern for a period of at least twelve months from the date of signing the accounts.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

Tetra Energy Gamma Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4	Investments

	2022 £	2021 £
Investments in subsidiaries	105,000	105,000

Subsidiaries	£
Cost or valuation
At 1 January 2022	105,000
Carrying amount
At 31 December 2022	105,000
At 31 December 2021	105,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
Tetra Energy UK Onshore Ltd	57a Broadway Leigh-On-Sea Essex United Kingdom SS9 1PE	Ordinary shares	100%	100%
	England

5

Debtors

Current	Note	2022 £	2021 £
Amounts owed by related parties	8	2,684,868	2,685,518

Tetra Energy Gamma Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Directors loan accounts	8	-	2,954,440
Other creditors		780	780
		780	2,955,220

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

8	Related party transactions

Summary of transactions with subsidiaries

Amounts due from Tetra Energy UK Onshore Ltd, a wholly owned subsidiary, are £2,684,868 (2021 - £2,685,518)
 

Summary of transactions with other related parties

Included in creditors is an amount of £Nil (2021 - £2,861,240) due to G Myles who was a director until 1 April 2022. This loan was novated to Crataegus Group Ltd, a related party, in April 2022.

Also included in creditors is an amount of £93,200 (2021 - £93,200) due to M Butler who was a director until 1 April 2022. This loan was novated to Crataegus Group Ltd, a related party, in April 2022.

 

9	Parent and ultimate parent undertaking

Tetra Energies Ltd acquired 100% of the share capital of Tetra Energy Gamma Ltd on 4 August 2023.

 The company's immediate parent is Tetra Energies Ltd, incorporated in England an Wales .

  These financial statements are available upon request from 57a Broadway, Leigh-On-Sea, Essex, united Kingdom SS9 1PE.