Redruth EFW Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09154707 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

REDRUTH EFW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R M J Healey

Mr P K Emery

SECRETARY:

Mr P K Emery

REGISTERED OFFICE:

14th Floor

82 King Street

Manchester

M2 4WQ

REGISTERED NUMBER:

09154707 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

100 Barbirolli Square

Manchester

M2 3BD

CURRENT ASSETS

Debtors

4

12,501

12,501

Cash at bank

3,054

553

15,555

13,054

CREDITORS

Amounts falling due within one year

5

(53,012

)

(62,000

)

NET CURRENT LIABILITIES

(37,457

)

(48,946

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,457

)

(48,946

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(37,557

)

(49,046

)

SHAREHOLDERS' FUNDS

(37,457

)

(48,946

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th December 2023 and were signed on its behalf by:

Mr R M J Healey - Director

1.	STATUTORY INFORMATION

Redruth EFW Limited is a private company, limited by shares, incorporated in England and Wales, registration number 09154707. The address of the registered office, and principal place of business is 14th Floor, 82 King Street, Manchester, M2 4WQ.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

The directors believe that preparing the financial the financial statements on the going concern basis is appropriate due to the continued financial support of the company's ultimate parent undertaking, Zeus Renewables Ltd.

Turnover

Turnover represents amounts recognised by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists income from the development of renewable energy power plants and is recognised at the point of which services are provided.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are represented by cash at bank.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

12,501

12,501

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

2,760

-

Amounts owed to group undertakings

42,800

59,000

Taxation and social security

3,302

-

Other creditors

4,150

3,000

53,012

62,000

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

10,000

Ordinary

£0.01

100

100

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Julian Beressi (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

8.	RELATED PARTY DISCLOSURES

Included in creditors is an amount owing of £42,800 (2022 - £59,000) to the company's parent company Zeus Renewables Limited.