Registered Number 09245274
FUTURE ENERGY(SUPPLY) LTD
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
Investments | 4 |
|
|
|
|
||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year | 5 |
( |
( |
Net current assets (liabilities) |
( |
|
|
Total assets less current liabilities |
( |
|
|
Creditors: amounts falling due after more than one year | 5 |
( |
|
Total net assets (liabilities) |
( |
|
|
Capital and reserves | |||
Called up share capital | 6 |
|
|
Share premium account |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
( |
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The directors confirm that despite the current trading position, the company is on track in delivering its five year business plan targets through to 2020. The current trading losses relate to attracting initial market share and investing in the company's operational capability. The business plan is supported by three further rounds of fundraising (£2.25m in total) during 2017/18.
Current trading will remain loss making for the year 2016/17 with the company being profitable in 2017/18.
Therefore, the directors consider it appropriate to believe the going concern basis of accounting is appropriate in preparing the annual financial statements.
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).
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings 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.
Turnover policy
Tangible assets depreciation policy
Land and buildings (leasehold) - 20% straight line;
Computer equipment - 20% straight line;
Fixtures, fittings & equipment - 20% straight line; and
Motor vehicles - 33% straight line.
Intangible assets amortisation policy
Other accounting policies
£ | |
---|---|
Cost | |
At 1 October 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 September 2016 |
|
Amortisation | |
At 1 October 2015 |
|
Charge for the year |
|
On disposals |
|
At 30 September 2016 |
|
Net book values | |
At 30 September 2016 | 85,000 |
At 30 September 2015 | 95,000 |
£ | |
---|---|
Cost | |
At 1 October 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 September 2016 |
|
Depreciation | |
At 1 October 2015 |
|
Charge for the year |
|
On disposals |
|
At 30 September 2016 |
|
Net book values | |
At 30 September 2016 | 82,730 |
At 30 September 2015 | 73,021 |
4
Fixed assets Investments
The company holds 100% of the share capital of Future Energy Utilities Limited and Future Energy (Services) Limited. Both companies are registered in the United Kingdom and in each case Future Energy (Supply) Limited held 100% of the issued share capital being one £1 ordinary share.
The aggregate amount of capital and reserves for both Future Energy Utilities Limited and Future Energy (Services) Limited was £1 at the last relevant financial year end and the results of these undertakings for the last relevant financial year were that both companies had a nil result.
The principal activity of Future Energy Utilities Limited is that of "electricity supplier" and Future Energy (Services) Limited is that of "combined facilities support" although both companies were dormant throughout the year.
2016
£ |
2015
£ |
|
---|---|---|
Secured Debts |
|
|