Registered Number 123456

No-Energy Ltd

Report and Accounts

31 October 2003


No-Energy Ltd Registered Number 123456

Directors' Report

The directors present their report and accounts for the year ended 31 October 2003.

Principal Activity

The company activity
The following directors who served during the year and their interests in the share capital of the Company:

2003
2002
G Rich (£1 Ordinary shares) 50

This report was approved by the board on 13 April 2004

And signed on their behalf by:
G Rich, Director

This document was delivered using electronic communications and authenticated in accordance with section 707B(2) of the Companies Act 1985.


No-Energy Ltd Registered Number 123456

Profit and Loss Account for the year ending 31 October 2003

Notes 2003 2002
$
Turnover 9 26,562 22,232
Cost of Sales (8,708) (7,423)
Gross profit or loss 17,854 14,809
Distribution costs (3,694) (2,974)
Administration costs (9,786) (7,453)
Operating profit / (loss) 4,374 4,382
Other Income
Profit / (loss) on ordinary activities before taxation 4,374 4,382
Taxation (1,455) (1,014)
Profit / (loss) on ordinary activities after taxation 2,919 3,368
Dividends (3,500) (2,500)
Retained profit/(loss) for the financial year (581) 868
Profit/(loss) brought forward 1,234 5,360
Retained profit/(loss) as of year end 6,432 6,444

No-Energy Ltd Registered Number 123456

Balance Sheet as at 31 October 2003

Notes 2003 2002
2
$ $
Fixed assets
Intangible 3, 7 750 900
Tangible 4, 7 7,464 9,054
Investments 0 0
8,214 9,954
Current assets
Stocks 694 543
Debtors 8 3,767 2,685
Cash at bank and in hand 1,822 1,593
Total current assets 6,283 4,821
Creditors: amounts falling due within one year (2,965) (2,456)
Net current assets (liabilities) 3,318 2,365
Total assets less current liabilities 11,532 12,319
Creditors: amounts falling due after more than one year (4,775) (5,550)
Provisions for liabilities and charges (225) (225)
Total net assets (liabilities) 6,532 6,544
Capital and reserves
Called up share capital 5 100 100
Profit and loss account 6 6,432 6,444
Shareholders funds 6,532 6,544
  1. For the year ending 31 October 2003 the company was entitled to exemption under section 249A(1) of the Companies Act 1985.
  2. The members have not required the company to obtain an audit in accordance with section 249B(2) of the Companies Act 1985.
  3. The directors acknowledge their responsibility for:
    1. ensuring the company keeps accounting records which comply with Section 221; and
    2. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.
  4. The accounts have been prepared in accordance with the special provisions in Part VII of the Companies Act 1985 relating to small companies.

Approved by the board on 11 August 2004

And signed on their behalf by:
G Rich, Director

This document was delivered using electronic communications and authenticated in accordance with section 707B(2) of the Companies Act 1985.


No-Energy Ltd Registered Number 123456

Notes to the Accounts

For the year ending 31 October 2003
1

Accounting policies

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Small Entities (effective June 2002)

Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of VAT and trade discounts.

Stocks
Stock is valued at the lower of cost and net realisable value

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land & Buildings 10% straight line
Furniture 20% straight line
Computer Equipment 20% straight line
Communications Equipment 20% straight line
Motor Vehicles 25% straight line
2

Exchange rate

Using $1.77 to £1 for FY 2002/3, averaged over the period
Using €1.49 to £1 for FY 2001/2, averaged over the period

3

Intangible fixed assets

$
Net Book Value
At 31 October 2003 750
At 31 October 2002 900
4

Tangible fixed assets

Total
$
Net Book Value
At 31 October 2003 7,464
At 31 October 2002 9,054
5

Share capital

2003 2002
$
Authorised share capital:
1000 A shares of $1 each 1,000 1,000
Allotted, called up and fully paid:
100 A shares of $1 each 100 50
6

Profit and Loss Account

2003 2002
$
Balance brought forward 1,234 5,360
Profit or Loss for the current year (581) 868
Balance carried forward 6,432 6,444
7

Fixed Assets

This is a footnote for the fixed asset sections of the balance sheet.
8

Debtors

This is a footnote to the Debtors note.
9

Turnover note title

This is a footnote to Turnover.