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REGISTERED NUMBER: 09689035 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE PERIOD

13 NOVEMBER 2017 TO 30 JUNE 2018

FOR

FOXGLOVE ENERGY SUPPLY LTD

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOXGLOVE ENERGY SUPPLY LTD

COMPANY INFORMATION
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018







DIRECTORS: Mr KC Bastian
Mrs MA Bastian


REGISTERED OFFICE: 16 North Mills
Frog Island
Leicester
Leicestershire
LE3 5DL


REGISTERED NUMBER: 09689035 (England and Wales)


SENIOR STATUTORY AUDITOR: Mr W Scales FCA FMAAT


AUDITORS: Mark J Rees LLP, Statutory Auditor
Chartered Accountants
Granville Hall
Granville Road
Leicester
LE1 7RU


BANKERS: Barclays Bank Plc
Town Hall Square
Leicester
LE87 2BB

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
ASSETS

FIXED ASSETS
Intangible assets 4 439,741 -
Tangible assets 5 12,484 13,527
Investments 6 2 2
452,227 13,529

CURRENT ASSETS
Debtors 7 8,272,906 774,690
Cash at bank 1,823,366 246,259
10,096,272 1,020,949
10,548,499 1,034,478

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 938,859 (761,212 )
938,860 (761,211 )

PROVISIONS FOR LIABILITIES 2,197 -

CREDITORS 8 9,607,442 1,795,689
10,548,499 1,034,478

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 April 2019 and were signed on its behalf by:





Mr KC Bastian - Director


FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018


1. STATUTORY INFORMATION

Foxglove Energy Supply Ltd is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Foxglove Energy Supply Ltd as an individual company and
do not contain consolidated financial information as the parent of a group. The company is exempt under
Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it
and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its
parent, Bastian Plc, Northbridge Place, Frog Island, Leicester, Leicestershire, United Kingdom, LE3 5DH.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires the use of certain accounting estimates, as detailed in the
accounting policies. It also requires management to exercise judgement in the process of applying the accounting
policies.

TURNOVER
Revenue is recognised on the basis of electricity and gas supplied during the year. Revenue includes an estimate
of the sales value of units supplied to customers between the date of the last meter read and year end date. This
estimate is based on the latest data provided by the industry at a certain point in time and takes into account
seasonal variations and usage patterns. Revenue is recognised net of sales discounts, VAT and climate change
levy.

Turnover includes the directors' best estimate of differences between estimated sales and billed sales. All actual
metered consumption data related to customer's electricity consumption received by the end of the period has
been reflected in turnover. Actual metered consumption data relating to the period but received after the period
end is not reflected in turnover. The estimated consumption data is revised over a twelve month settlement
period.

Any unbilled revenue is included in trade revenue, net of related provisions, to the extent that it is considered
recoverable. Accrued revenue supplied since the last billing date is recognised in the balance sheet and is only
netted off against deferred income once it can be matched against specific customer payments.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount
may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of fair value
less costs to sell and value-in-use, are recognised as impairment losses. Impairments of revalued assets are
treated as a revaluation decrease. All other impairment losses are recognised in profit and loss.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS
Derivative financial instruments are recognised using a valuation technique with material movements being
recognised in the profit and loss in the relevant period. Outstanding material derivatives at reporting date are
included under the appropriate format heading in debtors or creditors depending on the nature of the derivative.

The company has a risk management strategy in place and the energy commodities risk arising from fluctuating
energy requirements and market prices is hedged.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018


2. ACCOUNTING POLICIES - continued

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method, less any impairment.

CREDITORS
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.

GOING CONCERN
The financial statements have been prepared on the going concern basis. The industry the company operates in is
volatile and heavily reliant on estimates. Accordingly, the directors have analysed the going concern status in
detail. This analysis, along with confirmed support from group companies, has allowed the directors to conclude
there is no material uncertainty in relation to going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 52 (2017 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
Additions 439,741
At 30 June 2018 439,741
NET BOOK VALUE
At 30 June 2018 439,741

During the period, costs relating to the development of the Customer Relationship Management system, an asset
central to the company's sales, were capitalised.

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 13 November 2017 15,491
Additions 1,040
At 30 June 2018 16,531
DEPRECIATION
At 13 November 2017 1,964
Charge for period 2,083
At 30 June 2018 4,047
NET BOOK VALUE
At 30 June 2018 12,484
At 12 November 2017 13,527

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 13 November 2017
and 30 June 2018 2
NET BOOK VALUE
At 30 June 2018 2
At 12 November 2017 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 3,937,469 397,942
Amounts owed by group undertakings 4,890 1,500
Other debtors 4,330,547 375,248
8,272,906 774,690

FOXGLOVE ENERGY SUPPLY LTD (REGISTERED NUMBER: 09689035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 NOVEMBER 2017 TO 30 JUNE 2018


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 1,836,845 289,741
Amounts owed to group undertakings 1,579,617 -
Taxation and social security 250,747 14,937
Other creditors 5,940,233 1,491,011
9,607,442 1,795,689

9. SECURED DEBTS

At the balance sheet date there are fixed and floating charges held over all assets of the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr W Scales FCA FMAAT (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP, Statutory Auditor

11. ENERGY PURCHASE COMMITMENTS

The company hedges its exposure to changes in market prices from energy purchases.

The company has committed to purchase energy totalling £11,072,457 (2017: £2,176,574) and sell £1,507,536
(2017: £Nil).

The fair value of these forward contracts amounts to £2,066,504 at the balance sheet date.

12. ULTIMATE PARENT COMPANY

In the directors' opinion, the company's ultimate parent company is Bastian Plc.

The registered address of Bastian Plc is Northbridge Place, Frog Island, Leicester, Leicestershire, United
Kingdom, LE3 5DH and the group accounts can be found at Companies House, Crown Way, Cardiff, CF14
3UZ.