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FINANCIAL STATEMENTS |
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FOR THE PERIOD 1ST FEBRUARY 2022 TO 31ST DECEMBER 2022 |
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DEMMA ENERGY LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD 1ST FEBRUARY 2022 TO 31ST DECEMBER 2022 |
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FOR |
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DEMMA ENERGY LTD |
DEMMA ENERGY LTD (REGISTERED NUMBER: 11739637) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1st February 2022 to 31st December 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DEMMA ENERGY LTD |
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COMPANY INFORMATION |
for the Period 1st February 2022 to 31st December 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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696 Yardley Wood Road |
Billesley |
Birmingham |
West Midlands |
B13 0HY |
DEMMA ENERGY LTD (REGISTERED NUMBER: 11739637) |
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BALANCE SHEET |
31st December 2022 |
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31/12/22 | 31/1/22 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 4 |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DEMMA ENERGY LTD (REGISTERED NUMBER: 11739637) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1st February 2022 to 31st December 2022 |
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1. | STATUTORY INFORMATION |
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Demma Energy Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2022 -
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DEMMA ENERGY LTD (REGISTERED NUMBER: 11739637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st February 2022 to 31st December 2022 |
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4. | STOCKS |
31/12/22 | 31/1/22 |
£ | £ |
Stocks |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/22 | 31/1/22 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/22 | 31/1/22 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Included in amounts owed to group undertakings are the following balances due to : |
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£ |
Demma Group Ltd | 43,419 |
Demma Controls Limited | 71,785 |
Demma Services Limited | 6,077 |
Demma (London) Limited | 5,335 |
126,616 |
DEMMA ENERGY LTD (REGISTERED NUMBER: 11739637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st February 2022 to 31st December 2022 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 31/12/22 | 31/1/22 |
value: | £ | £ |
NIL | Ordinary A Shares | £1 | - | 55 |
(31/1/22 - 55 ) |
NIL | Ordinary B Shares | £1 | - | 15 |
(31/1/22 - 15 ) |
NIL | Ordinary C Shares | £1 | - | 15 |
(31/1/22 - 15 ) |
NIL | Ordinary D Shares | £1 | - | 15 |
(31/1/22 - 15 ) |
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Ordinary shares | £1 | 100 | - |
100 | 100 |
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All types of shares have been transferred to Ordinary shares on 8th June 2022. They have voting rights, right to receive dividends and participate in capital distributions on a winding up. |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | PENSION COMMITMENTS |
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The company operated a defined contribution pension scheme of which the assets are held separately from those of the company. During the period the company contributed £nil (PE 31/1/22 £1,641) to the scheme. |
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10. | ULTIMATE CONTROLLING PARTY |
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The immediate parent of the company is Demma Group Limited (registered in England and Wales 10543203) and the ultimate controlling party is Building Automation Nordic Holding AB (registered in Sweden 559261-9729). Consolidated accounts are prepared and publicly available at Building Automation Nordic Holding AB level. |
As part of the acquisition of Demma Group Limited by Nordomatic Holding UK Limited on 1st June 2022, ultimate control passed to Building Automation Nordic Holding AB. |
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11. | GOING CONCERN |
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The financial statements are prepared on the going concern basis, even though the company has liabilities in excess of assets, as the company has financial support from its parent undertaking to ensure that the company will continue to exist for at least 12 months from the date of signing the financial statements. |