Company Registration No. 02044326 (England and Wales)
ENERGY COST ADVISORS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
ENERGY COST ADVISORS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 6
ENERGY COST ADVISORS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ENERGY COST ADVISORS LIMITED FOR THE YEAR ENDED 31 JULY 2016
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Energy Cost Advisors Limited for the year ended 31 July 2016 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Energy Cost Advisors Limited, as a body, in accordance with the terms of our engagement letter dated 20 July 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Energy Cost Advisors Limited and state those matters that we have agreed to state to the Board of Directors of Energy Cost Advisors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Energy Cost Advisors Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Energy Cost Advisors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Energy Cost Advisors Limited. You consider that Energy Cost Advisors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Energy Cost Advisors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Knowles Warwick Limited
28 April 2017
Chartered Accountants
183 Fraser Road
Sheffield
S8 0JP
ENERGY COST ADVISORS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
2
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
288,751
310,386
Investments
2
11
11
288,762
310,397
Current assets
Debtors
391,678
255,915
Cash at bank and in hand
951,236
697,442
1,342,914
953,357
Creditors: amounts falling due within one year
(1,376,867)
(1,024,824)
Net current liabilities
(33,953)
(71,467)
Total assets less current liabilities
254,809
238,930
Provisions for liabilities
(11,260)
(17,240)
243,549
221,690
Capital and reserves
Called up share capital
3
5,177
5,177
Revaluation reserve
155,044
155,044
Other reserves
1,233
1,233
Profit and loss account
82,095
60,236
Shareholders' funds
243,549
221,690
ENERGY COST ADVISORS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2016
31 July 2016
3
For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 April 2017
Mr S G W Mellor
Director
Company Registration No. 02044326
ENERGY COST ADVISORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
4
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% on cost
Computer equipment
10% and 33% on cost
Fixtures, fittings & equipment
10% and 33% on cost
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
ENERGY COST ADVISORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
5
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 August 2015
668,589
11
668,600
Additions
2,176
-
2,176
At 31 July 2016
670,765
11
670,776
Depreciation
At 1 August 2015
358,203
-
358,203
Charge for the year
23,811
-
23,811
At 31 July 2016
382,014
-
382,014
Net book value
At 31 July 2016
288,751
11
288,762
At 31 July 2015
310,386
11
310,397
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
The Green Consultancy Limited
England & Wales
Ordinary
100.00
Participating interests
Dronfield Court Management Limited
England & Wales
Ordinary
25.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
The Green Consultancy Limited
Environmental consulting activities.
4,027
(14,153)
Dronfield Court Management Limited
Property management
4
-
ENERGY COST ADVISORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
6
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50,146 Ordinary A shares of £0.10 each
5,015
5,015
1,618 Ordinary B shares of £0.10 each
162
162
5,177
5,177
4
Related party relationships and transactions
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr S G W Mellor
3.00
(600)
184,549
1,175
105,000
80,124
Mrs P M Mellor
-
(390)
35,823
-
36,429
(996)
Mr S E Silverwood
3.00
(3,167)
83,445
122
68,998
11,402
(4,157)
303,817
1,297
210,427
90,530
The loans to/from directors have no fixed date for repayment.
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