Terra Firma Energy Limited
Terra Firma Energy Limited
Registered number: 12619765
Unaudited Financial Statements
For The Year Ended 31 May 2023
Valentis (UK) Ltd
ACCA
6-8 Great Eastern Street
London
EC2A 3NT
Terra Firma Energy Limited
Contents
Contents
Page | |
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Balance Sheet | 1—2 |
Statement of Changes in Equity | 3 |
Notes to the Financial Statements | 4—6 |
Terra Firma Energy Limited
Balance Sheet
As At
31 May 2023
Balance Sheet
Registered number:
12619765
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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Investments | 5 |
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CURRENT ASSETS | |||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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Creditors: Amounts Falling Due After More Than One Year | 8 |
( |
( |
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NET LIABILITIES |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 10 |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (11,556,577) | (6,002,140) | |||
Terra Firma Energy Limited
Balance Sheet (continued)
As At
31 May 2023
On behalf of the board
Director
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The notes on pages 4 to 6 form part of these financial statements.
Terra Firma Energy Limited
Statement of Changes in Equity
For The Year Ended 31 May 2023
Statement of Changes in Equity
Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 June 2021 |
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( |
(2,467,664) |
Loss for the year and total comprehensive income | - |
( |
(3,534,546) |
Arising on shares issued during the period |
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- | 70 |
As at 31 May 2022 and 1 June 2022 |
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( |
(6,002,140) |
Loss for the year and total comprehensive income | - |
( |
(5,554,437) |
As at 31 May 2023 |
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( |
(11,556,577) |
Terra Firma Energy Limited
Notes to the Financial Statements
For The Year Ended 31 May 2023
Notes to the Financial Statements
1.
General Information
Terra Firma Energy Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
12619765
. The registered office is C/O Aticus Law Solicitors, 5 John Dalton Street, Manchester, M2 6ET.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment |
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3.
Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
4.
Tangible Assets
Computer Equipment | |
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£ | |
Cost | |
As at 1 June 2022 |
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Additions |
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As at 31 May 2023 |
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Depreciation | |
As at 1 June 2022 |
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Provided during the period |
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As at 31 May 2023 |
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Net Book Value | |
As at 31 May 2023 |
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As at 1 June 2022 |
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5.
Investments
Subsidiaries | |
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£ | |
Cost | |
As at 1 June 2022 |
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Additions |
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Disposals |
( |
As at 31 May 2023 |
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Provision | |
As at 1 June 2022 |
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As at 31 May 2023 |
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...CONTINUED
Terra Firma Energy Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2023
Net Book Value | |
As at 31 May 2023 |
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As at 1 June 2022 |
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Shareholding in Subsidiaries
The shares represent ownership in the following subsidiaries as of the balance sheet date:
Terra Firma (Burtonhead) Ltd (12650643) – Owns 85% of the issued share capital. Through this entity, it controls a majority of Burtonhead Road Power Limited (11422102), which operates a Gas Peaking Power Plant at Burtonhead Road, St Helens, Merseyside.
Terra Firma (Miners Road) Ltd (13420278) – Owns 75% of the issued share capital. Through this entity, it controls a majority of SEDG (Miners) Ltd (10648802), which is currently being set up to operate a Gas Peaking Power Plant at Miners Road, Llay Industrial Estate, Wrexham.
Terra Firma (Wingrave) Ltd (13127262) – Initially owned 85% of the issued share capital, reduced to 75% after the balance sheet date. Through this entity, it controls a majority of ARL 021 Ltd (11448072), which is currently being set up to operate a Gas Peaking Power Plant at Thistlebrook Farm, Tring Road, Wingrave.
All of the above-mentioned companies are registered in England and Wales.
6.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Prepayments and accrued income |
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Rent Deposit |
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Monies held on account | - |
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VAT |
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- | |
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7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Other taxes and social security |
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VAT | - |
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Other creditors |
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Accruals and deferred income | - |
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Directors' loan accounts |
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8.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Debentures |
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Amounts owed to subsidiaries |
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9.
Secured Creditors
The company entered into a debenture agreement with Saser Limited on 05 December 2022. This agreement is secured by both fixed and floating charges.
Terra Firma Energy Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2023