Energy Carbon Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11341124 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ENERGY CARBON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Davies

N M Gander

REGISTERED OFFICE:

Kemp House

152-160 City Road

London

EC1V 2NX

REGISTERED NUMBER:

11341124 (England and Wales)

ACCOUNTANTS:

Galloways Accounting

Atlas Chambers

33 West Street

Brighton

East Sussex

BN1 2RE

FIXED ASSETS

Intangible assets

4

2,000

3,000

Tangible assets

5

1,377

-

3,377

3,000

CURRENT ASSETS

Stocks

6,118

2,089

Debtors

6

75,385

46,856

Cash at bank

4,120

2,453

85,623

51,398

CREDITORS

Amounts falling due within one year

7

48,982

28,839

NET CURRENT ASSETS

36,641

22,559

TOTAL ASSETS LESS CURRENT LIABILITIES

40,018

25,559

CREDITORS

Amounts falling due after more than one year

8

39,169

44,232

NET ASSETS/(LIABILITIES)

849

(18,673

)

CAPITAL AND RESERVES

Called up share capital

100

2

Retained earnings

749

(18,675

)

849

(18,673

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 19 February 2024 and were signed on its behalf by:

N M Gander - Director

1.	STATUTORY INFORMATION

Energy Carbon 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents the invoiced sales of heating solutions sold by the company and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants

Government grants, in the form of Innovate UK smart grants, cover the expenditure on undertaking innovative and commercially viable projects. These are included as other operating income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

After reviewing the company's forecasts, the directors confirm that they will continue to fund the company with adequate resources to continue into the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements.

3.

EMPLOYEES

The average number of employees during the year was 2 (2022 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 July 2022

and 30 June 2023

5,000

AMORTISATION

At 1 July 2022

2,000

Amortisation for year

1,000

At 30 June 2023

3,000

NET BOOK VALUE

At 30 June 2023

2,000

At 30 June 2022

3,000

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 July 2022

2,508

1,775

4,283

Additions

-

1,676

1,676

Disposals

-

(1,775

)

(1,775

)

At 30 June 2023

2,508

1,676

4,184

DEPRECIATION

At 1 July 2022

2,508

1,775

4,283

Charge for year

-

299

299

Eliminated on disposal

-

(1,775

)

(1,775

)

At 30 June 2023

2,508

299

2,807

NET BOOK VALUE

At 30 June 2023

-

1,377

1,377

At 30 June 2022

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

45,495

45,232

Other debtors

29,890

1,624

75,385

46,856

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

5,556

5,556

Trade creditors

20,920

6,151

Taxation and social security

15,973

958

Other creditors

6,533

16,174

48,982

28,839

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

39,169

44,232

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

16,946

22,009

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023

2022

£

£

Balance outstanding at start of year

(10,641

)

(11,031

)

Amounts advanced

78,114

3,220

Amounts repaid

(45,125

)

(2,830

)

Balance outstanding at end of year

22,348

(10,641

)

No interest has been charged on the overdrawn loan accounts. The loans are repayable on demand.