Company Registration No. 09416419 (England and Wales)
ENERGY PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
ENERGY PARTNERS LIMITED
COMPANY INFORMATION
Directors
Mr J A Platania
(Appointed 27 July 2016)
Mrs K L Hughes
(Appointed 6 December 2016)
Company number
09416419
Registered office
Dobson House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3PF
Accountants
Ryecroft Glenton
32 Portland Terrace
Jesmond
Newcastle upon Tyne
NE2 1QP
ENERGY PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
ENERGY PARTNERS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
7,067
Investments
3
100,000
100,000
100,000
107,067
Current assets
Debtors
4
291,176
35,276
Cash at bank and in hand
431
652
291,607
35,928
Creditors: amounts falling due within one year
5
(1,400)
-
Net current assets
290,207
35,928
Total assets less current liabilities
390,207
142,995
Creditors: amounts falling due after more than one year
6
(409,275)
(164,280)
Net liabilities
(19,068)
(21,285)
Capital and reserves
Called up share capital
7
5,150
5,000
Share premium account
29,850
-
Profit and loss reserves
(54,068)
(26,285)
Total equity
(19,068)
(21,285)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial Period ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476 .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

ENERGY PARTNERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2017
31 March 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 December 2017 and are signed on its behalf by:
Mrs K L Hughes
Director
Company Registration No. 09416419
ENERGY PARTNERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2017
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 2 February 2015
-
-
-
-
Period ended 28 February 2016:
Loss and total comprehensive income for the period
-
-
(26,285)
(26,285)
Issue of share capital
7
5,000
-
-
5,000
Balance at 28 February 2016
5,000
-
(26,285)
(21,285)
Period ended 31 March 2017:
Loss and total comprehensive income for the period
-
-
(27,783)
(27,783)
Issue of share capital
7
150
29,850
-
30,000
Balance at 31 March 2017
5,150
29,850
(54,068)
(19,068)
ENERGY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017
- 4 -
1
Accounting policies
Company information

Energy Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dobson House, Regent Centre, Gosforth, Newcastle upon Tyne, NE3 3PF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements for the Period ended 31 March 2017 are the first financial statements of Energy Partners Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 2 February 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Reporting period

The company has changed its accounting date from 28 February to 31 March. The period covered by these financial statements is the period 1 March 2016 to 31 March 2017, while the comparative figures cover the period 1 March 2015 to 29 February 2016 so are not entirely comparable. The decision to extend the accounting period was made to align the year end of this company with other members of the group.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

As the company acts as holding company for an energy company, revenue from contracts for the provision of professional services tend to relate to management services (not goods) and is therefore recognised in the period to which those management services relate.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

ENERGY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2017
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ENERGY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2017
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 February 2016
8,000
Disposals
(8,000)
At 31 March 2017
-
Depreciation and impairment
At 29 February 2016
-
Depreciation charged in the Period
933
Eliminated in respect of disposals
(933)
At 31 March 2017
-
Carrying amount
At 31 March 2017
-
At 28 February 2016
7,067
3
Fixed asset investments
2017
2016
£
£
Investments
100,000
100,000

Fixed asset investments are stated at cost less provision for diminution in value.

ENERGY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2017
- 7 -
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
252,174
5,000
Other debtors
39,002
30,276
291,176
35,276
5
Creditors: amounts falling due within one year
2017
2016
£
£
Other creditors
1,400
-
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
409,275
164,280
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
5,150 Ordinary shares of £1 each
5,150
5,000
5,150
5,000
2017-03-31 2016-02-29 false CCH Software CCH Accounts Production 2017.300 No description of principal activity 19 December 2017 09416419 2016-02-29 2017-03-31 09416419 bus:Director2 2016-02-29 2017-03-31 09416419 bus:Director3 2016-02-29 2017-03-31 09416419 bus:RegisteredOffice 2016-02-29 2017-03-31 09416419 2017-03-31 09416419 2016-02-28 09416419 core:OtherPropertyPlantEquipment 2016-02-28 09416419 core:CurrentFinancialInstruments 2017-03-31 09416419 core:CurrentFinancialInstruments 2016-02-28 09416419 core:Non-currentFinancialInstruments 2017-03-31 09416419 core:Non-currentFinancialInstruments 2016-02-28 09416419 core:ShareCapital 2017-03-31 09416419 core:ShareCapital 2016-02-28 09416419 core:SharePremium 2017-03-31 09416419 core:RetainedEarningsAccumulatedLosses 2017-03-31 09416419 core:RetainedEarningsAccumulatedLosses 2016-02-28 09416419 core:ShareCapitalOrdinaryShares 2017-03-31 09416419 core:ShareCapitalOrdinaryShares 2016-02-28 09416419 2015-02-02 2016-02-28 09416419 core:ShareCapital 2015-02-02 2016-02-28 09416419 core:ShareCapital 2016-02-29 2017-03-31 09416419 core:SharePremium 2016-02-29 2017-03-31 09416419 core:ComputerEquipment 2016-02-29 2017-03-31 09416419 core:OtherPropertyPlantEquipment 2016-02-28 09416419 core:OtherPropertyPlantEquipment 2016-02-29 2017-03-31 09416419 bus:OrdinaryShareClass1 2016-02-29 2017-03-31 09416419 bus:OrdinaryShareClass1 2017-03-31 09416419 bus:PrivateLimitedCompanyLtd 2016-02-29 2017-03-31 09416419 bus:FRS102 2016-02-29 2017-03-31 09416419 bus:AuditExemptWithAccountantsReport 2016-02-29 2017-03-31 09416419 bus:SmallCompaniesRegimeForAccounts 2016-02-29 2017-03-31 09416419 bus:FullAccounts 2016-02-29 2017-03-31 xbrli:pure xbrli:shares iso4217:GBP