Company Registration No. 05927695 (England and Wales)
1NTELLIGENT ENERGY SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
1NTELLIGENT ENERGY SOLUTIONS LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
1NTELLIGENT ENERGY SOLUTIONS LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 1NTELLIGENT ENERGY SOLUTIONS LTD FOR THE YEAR ENDED 30 APRIL 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1ntelligent Energy Solutions Ltd for the year ended 30 April 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 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 icaew.com/regulations.
This report is made solely to the Board of Directors of 1ntelligent Energy Solutions Ltd, as a body, in accordance with the terms of our engagement letter dated 20 June 2014. Our work has been undertaken solely to prepare for your approval the financial statements of 1ntelligent Energy Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of 1ntelligent Energy Solutions Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1ntelligent Energy Solutions Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that 1ntelligent Energy Solutions Ltd 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 loss of 1ntelligent Energy Solutions Ltd. You consider that 1ntelligent Energy Solutions Ltd 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 1ntelligent Energy Solutions Ltd. 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.
Clear & Lane Limited
Chartered Accountants
340 Melton Road
Leicester
LE4 7SL
28 January 2016
1NTELLIGENT ENERGY SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,062
17,521
Current assets
Stocks
7,000
10,000
Debtors
70,875
75,015
Cash at bank and in hand
-
697
77,875
85,712
Creditors: amounts falling due within one year
(236,883)
(136,364)
Net current liabilities
(159,008)
(50,652)
Total assets less current liabilities
(141,946)
(33,131)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(142,046)
(33,231)
Shareholders' funds
(141,946)
(33,131)
For the financial year ended 30 April 2015 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 year 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 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 January 2016
Mr P W Searancke
Director
Company Registration No. 05927695
1NTELLIGENT ENERGY SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements have been prepared on the going concern basis during the year a cost reduction programme was undertaken to return the company to profitability in the current year.
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 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% straight line
Plant and machinery
25% Straight line
Fixtures, fittings & equipment
15% Straight line
Motor vehicles
25% Straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
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
Deferred taxation
Deferred taxation is recognised in respect of all material timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1NTELLIGENT ENERGY SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2014
87,464
Additions
11,624
At 30 April 2015
99,088
Depreciation
At 1 May 2014
69,943
Charge for the year
12,083
At 30 April 2015
82,026
Net book value
At 30 April 2015
17,062
At 30 April 2014
17,521
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100