Company Registration No. 04946049 (England and Wales)
Third Energy Onshore Limited
Unaudited accounts
for the year ended 31 December 2022
Third Energy Onshore Limited
Unaudited accounts
Contents
Third Energy Onshore Limited
Company Information
for the year ended 31 December 2022
Directors
Karl Farrow
Steven Mason
Glynn Williams
Company Number
04946049 (England and Wales)
Registered Office
Keyword House
Viking Road
Great Yarmouth
Norfolk
NR31 0NU
England
Accountants
Azoth Solutions Ltd
Jonathan Scott Hall
Thorpe Road
Norwich
Norfolk
NR1 1UH
Third Energy Onshore Limited
Statement of financial position
as at 31 December 2022
Debtors
1,679,521
(1,319,687)
Cash at bank and in hand
10,330
1,804,342
Creditors: amounts falling due within one year
(1,277,891)
(50,161)
Net current assets
411,960
434,494
Net assets
451,277
434,494
Called up share capital
20,640,105
20,640,105
Capital redemption reserve
81,678,139
81,678,139
Capital contribution reserve
714,826
714,826
Profit and loss account
(102,581,793)
(102,598,576)
Shareholders' funds
451,277
434,494
For the year ending 31 December 2022 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by
Karl Farrow
Director
Company Registration No. 04946049
Third Energy Onshore Limited
Notes to the Accounts
for the year ended 31 December 2022
Third Energy Onshore Limited is a private company, limited by shares, registered in England and Wales, registration number 04946049. The registered office is Keyword House, Viking Road, Great Yarmouth, Norfolk, NR31 0NU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The financial statements have been prepared on the going concern basis.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of these financial statements. Based on the forecasts prepared the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at fair value.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Third Energy Onshore Limited
Notes to the Accounts
for the year ended 31 December 2022
4
Investments
Subsidiary undertakings
Valuation at 1 January 2022
-
Fair value adjustments
(19,138,987)
Valuation at 31 December 2022
39,317
Amounts falling due within one year
Amounts due from group undertakings etc.
1,675,271
(1,327,598)
Accrued income and prepayments
4,169
4,604
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
11,349
16,428
Amounts owed to group undertakings and other participating interests
1,175,797
-
Taxes and social security
11,040
10,382
7
Average number of employees
During the year the average number of employees was 2 (2021: 2).