Red Triangle Energy Ltd - Limited company accounts 18.1.1

REGISTERED NUMBER: 08202131 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Red Triangle Energy Ltd

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Statement of Financial Position

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTORS:

Mr R E Atkins

Mrs H M Allinson

REGISTERED OFFICE:

Evolution House

Iceni Court

Delft Way

Norwich

Norfolk

NR6 6BB

REGISTERED NUMBER:

08202131 (England and Wales)

ACCOUNTANTS:

Farnell Clarke Limited

Evolution House

Delft Way

Norwich Airport

Norwich

Norfolk

NR6 6BB

The directors present their report with the financial statements of the company for the year ended 30 September 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of energy consultancy.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2016 to the date of this

report.

Mr R E Atkins

Mrs H M Allinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs H M Allinson - Director

30 June 2018

REVENUE

51,648

219,292

Administrative expenses

47,116

177,714

OPERATING PROFIT

4

4,532

41,578

Interest receivable and similar income

10

2

4,542

41,580

Interest payable and similar expenses

501

299

PROFIT BEFORE TAXATION

4,041

41,281

Tax on profit

5

1,555

11,608

PROFIT FOR THE FINANCIAL YEAR

2,486

29,673

FIXED ASSETS

Property, plant and equipment

7

10,505

13,827

CURRENT ASSETS

Debtors

8

53,271

39,068

Cash at bank

8,450

6,344

61,721

45,412

CREDITORS

Amounts falling due within one year

9

69,360

56,373

NET CURRENT LIABILITIES

(7,639

)

(10,961

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,866

2,866

PROVISIONS FOR LIABILITIES

2,766

2,766

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

10

100

100

SHAREHOLDERS' FUNDS

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 June 2018 and were signed on its behalf by:

Mrs H M Allinson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

100

-

100

Dividends

-

(29,673

)

(29,673

)

Total comprehensive income

-

29,673

29,673

Balance at 30 September 2016

100

-

100

Changes in equity

Dividends

-

(2,486

)

(2,486

)

Total comprehensive income

-

2,486

2,486

Balance at 30 September 2017

100

-

100

1.	STATUTORY INFORMATION

Red Triangle Energy 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 October 2015.

Turnover

Revenue 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

-

33% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.17

30.9.16

£

£

Depreciation - owned assets

3,322

4,250

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.9.17

30.9.16

£

£

Current tax:

UK corporation tax

1,555

9,169

Deferred tax

-

2,439

Tax on profit

1,555

11,608

6.

DIVIDENDS

30.9.17

30.9.16

£

£

Interim

2,486

29,673

7.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2016

and 30 September 2017

440

6,447

14,109

3,644

24,640

DEPRECIATION

At 1 October 2016

221

2,133

5,291

3,168

10,813

Charge for year

147

647

2,204

324

3,322

At 30 September 2017

368

2,780

7,495

3,492

14,135

NET BOOK VALUE

At 30 September 2017

72

3,667

6,614

152

10,505

At 30 September 2016

219

4,314

8,818

476

13,827

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

S455 Tax

9,616

4,348

Directors' current accounts

43,428

27,038

VAT

-

7,682

Prepayments

227

-

53,271

39,068

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

3,982

54

Trade creditors

11,385

10,948

Tax

20,340

13,517

Social security and other taxes

56

1,343

Net wages control

-

(151

)

VAT

2,425

-

Other creditors

31,172

30,662

69,360

56,373

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

100

Ordinary

£1

100

100

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R E Atkins.