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Registration number: 08711077

Effortless Energy Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Effortless Energy Ltd
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

 

Effortless Energy Ltd
(Registration number: 08711077)
Abbreviated Balance Sheet at 30 September 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

1,477

   

1,417

 

Current assets

 

             

Debtors

 

   

39,307

   

8,073

 

Cash at bank and in hand

 

   

37,918

   

2,448

 
   

   

77,225

   

10,521

 

Creditors: Amounts falling due within one year

 

   

(49,236)

   

(20,123)

 

Net current assets/(liabilities)

 

   

27,989

   

(9,602)

 

Total assets less current liabilities

 

   

29,466

   

(8,185)

 

Creditors: Amounts falling due after more than one year

 

   

(30,000)

   

(30,000)

 

Net liabilities

 

   

(534)

   

(38,185)

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

(535)

   

(38,186)

 

Shareholders' deficit

 

   

(534)

   

(38,185)

 

For the year ending 30 September 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

 

Effortless Energy Ltd
(Registration number: 08711077)
Abbreviated Balance Sheet at 30 September 2016
......... continued

Approved by the Board on 27 April 2017 and signed on its behalf by:

.........................................
Mr A Burns
Director

.........................................
Mrs M Burns
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

 

Effortless Energy Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of electricity and gas to our domestic and non domestic customers. Revenues from the sale of goods and services are measured at the fair value of consideration received or receivable. They reflect the value of the volume supplied, including an estimate value of the volume supplied to customers between the date of the last invoice and the end of the period.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight Line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Effortless Energy Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 October 2015

 

2,030

   

2,030

 

Additions

 

583

   

583

 

At 30 September 2016

 

2,613

   

2,613

 

Depreciation

           

At 1 October 2015

 

613

   

613

 

Charge for the year

 

523

   

523

 

At 30 September 2016

 

1,136

   

1,136

 

Net book value

           

At 30 September 2016

 

1,477

   

1,477

 

At 30 September 2015

 

1,417

   

1,417

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary Shares of £0.01 each

 

100

   

1

   

100

   

1

 
                         
 

Effortless Energy Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

4

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mrs M Burns

Opening balance

(25,307)

-

(15,376)

-

Loans advanced

(8,600)

-

(8,467)

-

Payments made on behalf of the company

(305)

-

(284)

-

Payments made on behalf of the director

265

-

-

-

Unpaid remuneration

-

-

(1,180)

-

Loan repayments

2,601

-

-

-

Interest charged

(2,225)

-

-

-

-

-

-

-

 

(33,571)

-

(25,307)

-

         

Mr A Burns

Opening balance

(24,128)

-

(15,376)

-

Loans advanced

(8,600)

-

(8,468)

-

Loan repayments

1,972

-

-

-

Payments made on behalf of the company

-

-

(284)

-

Payments made on behalf of the director

265

-

-

-

Interest charged

(2,225)

-

-

-

 

(32,716)

-

(24,128)

-

         

5

Going concern

The accounts have been prepared on a going concern basis. The company made a profit in the year and sales significantly increased. The directors expect the results to improve further next year and will continue to support the company in the foreseeable future.