false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-11-24
Sage Accounts Production Advanced 2018 Update 1 - FRS
366,736
366,736
14,669
14,669
352,067
xbrli:pure
xbrli:shares
iso4217:GBP
NI642339
2016-11-24
2017-11-30
NI642339
2017-11-30
NI642339
core:PlantMachinery
2016-11-24
2017-11-30
NI642339
bus:Director1
2016-11-24
2017-11-30
NI642339
core:PlantMachinery
2017-11-30
NI642339
core:WithinOneYear
2017-11-30
NI642339
core:ShareCapital
2017-11-30
NI642339
core:RetainedEarningsAccumulatedLosses
2017-11-30
NI642339
bus:Director1
2017-11-30
NI642339
bus:SmallEntities
2016-11-24
2017-11-30
NI642339
bus:AuditExempt-NoAccountantsReport
2016-11-24
2017-11-30
NI642339
bus:FullAccounts
2016-11-24
2017-11-30
NI642339
bus:SmallCompaniesRegimeForAccounts
2016-11-24
2017-11-30
NI642339
bus:PrivateLimitedCompanyLtd
2016-11-24
2017-11-30
NI642339
core:OtherRelatedParties
2016-11-24
2017-11-30
NI642339
core:OtherRelatedParties
2017-11-30
NI642339
core:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties
2016-11-24
2017-11-30
NI642339
core:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties
2017-11-30
NI642339
core:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties
2016-11-24
2017-11-30
NI642339
core:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties
2017-11-30
NI642339
core:EntitiesControlledByKeyManagementPersonnel
2016-11-24
2017-11-30
NI642339
core:KeyManagementPersonnel
2016-11-24
2017-11-30
COMPANY REGISTRATION NUMBER:
NI642339
NRG Mount Hamilton Limited |
|
Filleted Unaudited Financial Statements |
|
NRG Mount Hamilton Limited |
|
Statement of Financial Position |
|
30 November 2017
Fixed assets
Tangible assets |
4 |
352,067 |
|
|
|
Current assets
Creditors: amounts falling due within one year |
6 |
418,250 |
|
--------- |
Net current liabilities |
364,782 |
|
--------- |
Total assets less current liabilities |
(
12,715) |
|
|
|
Provisions |
2,787 |
|
-------- |
Net liabilities |
(
15,502) |
|
-------- |
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
(
15,602) |
|
-------- |
Shareholders deficit |
(
15,502) |
|
-------- |
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
24 January 2019
, and are signed on behalf of the board by:
Company registration number:
NI642339
NRG Mount Hamilton Limited |
|
Notes to the Financial Statements |
|
Period from 24 November 2016 to 30 November 2017
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 54 Elmwood Avenue, Belfast, BT9 6AZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are discussed below. The preparation of the financial statements requires management to makes judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Consequently, actual results may differ from these estimates. The key judgements and estimates that management has made in the process of applying th entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Revenue recognition The timing of revenue on services provided depends on the assessed stage of the service activity at the balance sheet date. This assessment requires total revenues and costs to be estimated based on the current process of the engagement. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Depreciation The company's statement of financial position reflects a tangible fixed asset class which is subject to depreciation. Depreciation rates are based upon expected economic lives of the related tangible fixed assets. Any variation in the useful economic lives of the asset class will have an impact on the balance sheet and financial position of the company. The useful economic lives of tangible fixed assets are uncertain and, therefore, the actual economic life of an asset may be shorter or longer than expected. There have been no significant revisions to the estimated lives during the current financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
4% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units
.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 24 November 2016 |
– |
Additions |
366,736 |
|
--------- |
At 30 November 2017 |
366,736 |
|
--------- |
Depreciation |
|
At 24 November 2016 |
– |
Charge for the period |
14,669 |
|
--------- |
At 30 November 2017 |
14,669 |
|
--------- |
Carrying amount |
|
At 30 November 2017 |
352,067 |
|
--------- |
|
|
5.
Debtors
|
30 Nov 17 |
|
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
47,665 |
Other debtors |
5,803 |
|
-------- |
|
53,468 |
|
-------- |
|
|
6.
Creditors:
amounts falling due within one year
|
30 Nov 17 |
|
£ |
Trade creditors |
232,784 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
144,736 |
Corporation tax |
20 |
Other creditors |
40,710 |
|
--------- |
|
418,250 |
|
--------- |
|
|
7.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
|
30 Nov 17 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr A McMurray |
– |
60 |
60 |
|
|
---- |
---- |
---- |
|
|
|
|
|
8.
Related party transactions
The company was under the control of the director during the period.
Mr A McMurray
, director and 60% shareholder, also has a controlling interest in the following companies: NRG Solutions Limited
, NRG Wind Solutions Limited
, NRG Nine Mile Hill Limited
and Maddan Wind Limited
. During the period there were transactions with these companies and the following related party balances existed at the year end: NRG Solutions Limited owed £ 40,000
to NRG Mount Hamilton Limited
NRG Mount Hamilton Limited
owed £ 144,736
to NRG Wind Solutions Limited. NRG Nine Mile Hill Limited owed £ 7,665
to NRG Mount Hamilton Limited
. Mr M Harper, 40% shareholder in the company was owed £39,960 at the year end.