(formerly ANSA Energy Limited and Ripple Renewables Limited)
Year Ended
Registration number:
Ripple Energy Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Ripple Energy Limited
Company Information
Directors |
Miss S Merrick Mr W Dodd Mr M Parrag Mr S Peltenburg |
Registered office |
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Accountants |
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Page 1 |
Ripple Energy Limited
Balance Sheet
31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
Page 2 |
Ripple Energy Limited
Balance Sheet
31 March 2019
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 10565718
Page 3 |
Ripple Energy Limited
Statement of Changes in Equity
Year Ended 31 March 2019
Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 April 2018 |
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( |
( |
Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
New share capital subscribed |
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- |
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Other share premium reserve movements |
- |
( |
- |
( |
At 31 March 2019 |
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( |
( |
Share capital |
Share premium |
Profit and loss account |
Total |
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Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 March 2018 |
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( |
( |
Page 4 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Notwithstanding net liabilities of £49,913 (2018: £10,985), the accounts have been drawn up on a going concern basis. The directors, having made all necessary enquiries, are satisified that the company will meet its liabilities as they fall due and continue as a going concern for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. Included within creditors due within one year is £50,452 of convertible debt and £20,030 of other creditors which were converted into equity in August 2019.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% reducing balance |
Page 5 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks |
10% straight line |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 6 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances;
• Short term convertible loans.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Short term convertible loans are measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The residual amount is then recognised as equity. In subsequent periods the movement in the present value will be recognised as an interest expense.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 7 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Intangible assets |
Trademarks |
Total |
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Cost or valuation |
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At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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Amortisation |
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At 1 April 2018 |
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Amortisation charge |
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At 31 March 2019 |
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Carrying amount |
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At 31 March 2019 |
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At 31 March 2018 |
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Page 8 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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Depreciation |
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At 1 April 2018 |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount |
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At 31 March 2019 |
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At 31 March 2018 |
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Debtors |
2019 |
2018 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
31 March 2018 |
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Loans and borrowings |
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Trade creditors |
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Outstanding defined contribution pension costs |
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- |
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Other creditors |
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Accrued expenses |
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Page 9 |
Ripple Energy Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Loans and borrowings |
2019 |
2018 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Convertible debt |
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- |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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500.10 |
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400 |
On 25 April 2018, the 2 ordinary shares in issue of £200, were subdivided into 4,000 shares of 10p each.
New shares allotted
During the year |
Related party transactions |
Advances to directors |
2019 |
At 1 April 2018 |
Advances to director |
Repayments by director |
At 31 March 2019 |
Director |
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Interest-free loan repayable on demand |
- |
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- |
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Non adjusting events after the financial period |
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Page 10 |