Newark Energy Storage Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11400329 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2022 to 31 December 2022

for

Newark Energy Storage Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K S Gains

S P Thornton

P C Walker

Dr D J Williams

SECRETARY:

REGISTERED OFFICE:

3rd Floor, 24 Savile Row

London

W1S 2ES

REGISTERED NUMBER:

11400329 (England and Wales)

FIXED ASSETS

Tangible assets

4

149,442

160,660

CURRENT ASSETS

Debtors

5

19,313

1,698

Cash at bank

12,842

4,959

32,155

6,657

CREDITORS

Amounts falling due within one year

6

249,717

273,099

NET CURRENT LIABILITIES

(217,562

)

(266,442

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,120

)

(105,782

)

CREDITORS

Amounts falling due after more than one year

7

(8,877

)

-

PROVISIONS FOR LIABILITIES

(28,394

)

-

NET LIABILITIES

(105,391

)

(105,782

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(105,393

)

(105,784

)

(105,391

)

(105,782

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2023 and were signed on its behalf by:

K S Gains - Director

S P Thornton - Director

P C Walker - Director

Dr D J Williams - Director

1.	STATUTORY INFORMATION

Newark Energy Storage Ltd 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

-

10% on cost

Taxation

Taxation for the period comprises current and deferred tax. 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.

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 period 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2022

and 31 December 2022

224,375

DEPRECIATION

At 1 July 2022

63,715

Charge for period

11,218

At 31 December 2022

74,933

NET BOOK VALUE

At 31 December 2022

149,442

At 30 June 2022

160,660

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

30.6.22

£

£

Trade debtors

7,816

1,696

Other debtors

2

2

Prepayments

11,495

-

19,313

1,698

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

30.6.22

£

£

Bank loans and overdrafts

1,522

10,739

Trade creditors

841

120

Amounts owed to group undertakings

244,456

261,271

VAT

1,548

263

Directors' current accounts

-

106

Accruals and deferred income

1,350

600

249,717

273,099

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

30.6.22

£

£

Bank loans - 2-5 years

8,877

-