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Organization and principal activities | 12 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Organization and principal activities | 1. Organization and principal activities Business Energys Group Limited (the “Company”) and its subsidiaries (collectively the “Group”) conducts its primary operations through its indirectly wholly owned subsidiaries, Energy Conservation Solutions Limited (“ECSL”) in the United Kingdom, and New Vision Lighting Limited (“NVL”) and Grand Alliance International Limited (“GAI”) in Hong Kong. The Company provides end-to-end customized solutions and services involving the retrofitting of existing infrastructure helping public and private organizations in the United Kingdom to reduce their CO2 emissions and save cost. The Company’s customers include large national account end-users, including universities, schools, hospitals and electrical distributors in the United Kingdom. ECSL is principally engaged in the provision of enterprise-grade LED lighting and energy management solutions in the United Kingdom. NVL and GAI are principally engaged in the procurement of materials and supply to ECSL. Organization and reorganization The Company is an investment holding company incorporated in the Cayman Islands on July 5, 2022. Moonglade Investment Limited (“Moonglade”), a holding company incorporated under the laws of the British Virgin Islands on September 9, 2022, is the immediate holding company of the Company. Sky Shadow Limited (the “Controlling Shareholder”), Mr. Kevin Cox and Mr. Steven Paul Adams owned 100% of the shares of Moonglade. Energys Group Holding Limited (“EGHL”), a company incorporated in the British Virgin Islands with limited liability on June 29, 2017, is the immediate holding company of GAI, Energys Group Limited (Hong Kong) (“EGL(HK)”), and NVL, which in turn holds a 100% interest in Advance Gallant Limited (“AGL”), China Light Limited (“CLL”), Leading Prosper Limited (“LPL”), Peace Master Limited (“PML”), Energys Group Limited (the United Kingdom), Energys Services Limited and ECSL. Sky Shadow Limited, Mr. Kevin Cox and Mr. Steven Paul Adams owned 73%, 22% and 5% of the shares of EGHL, respectively, prior to the group reorganization (the “Group Reorganization”) discussed below. Pursuant to the Group Reorganization undertaken in preparation for the listing of the Company’s shares, the Company became the holding company of the Group on February 23, 2023, through the transfer of an aggregate of 100 shares of EGHL (representing 100% of the issued shares of EGHL) by Sky Shadow Limited, Mr. Kevin Cox and Mr. Steven Paul Adams to the Company in exchange for 89 shares of the Company (representing 89% of the issued shares of the Company) being issued to Moonglade, which is owned as to 69.7%, 24.7%, and 5.6% by Sky Shadow Limited, Mr. Kevin Cox and Mr. Steven Paul Adams, respectively. The Company, together with its wholly owned subsidiaries, is effectively controlled by the same Controlling Shareholder, i.e., ultimately held as to 73% and 62% by the Controlling Shareholder before and after the Group Reorganization, respectively, and therefore the Group Reorganization is considered as a recapitalization of entities under common control. The consolidation of the Company and its subsidiaries has been accounted for at historical cost. No amount is recognized in respect of goodwill or excess of the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over cost at the time of the common control combination. The consolidated statements of loss and comprehensive loss, consolidated statements of changes in shareholders’ deficit and consolidated statements of cash flows are prepared as if the current Group structure had been in existence throughout the two-year period ended June 30, 2024, or since the respective dates of incorporation/establishment of the relevant entity, where this is a shorter period. The consolidated balance sheets as of June 30, 2023 and 2024 present the assets and liabilities of the companies now comprising the Group which had been incorporated/established as of the relevant balance sheet date, as if the current group structure had been in existence at those dates. Upon the Group Reorganization and as of the date of these consolidated financial statements, details of the subsidiary companies are as follows: Schedule of Subsidiary Companies
Name |  | Place of incorporation |  | Date of incorporation |  | Business engaged in |  | Effective ownership as of June 30, 2023 |  |  | Effective ownership as of June 30, 2024 |
Energys Group Holding Limited |  | British Virgin Islands |  | June 29, 2017 |  | Investment holding |  |  | 100 | % |  |  | 100 | %
Grand Alliance International Limited |  | Hong Kong |  | December 29, 2000 |  | Procurement of parts and provision of internal management services to the Group |  |  | 100 | % |  |  | 100 | %
Energys Group Limited |  | Hong Kong |  | May 28, 2004 |  | Research and development |  |  | 100 | % |  |  | 100 | %
New Vision Lighting Limited |  | Hong Kong |  | January 24, 2013 |  | Procurement of lighting and indoor air quality products |  |  | 100 | % |  |  | 100 | %
Advance Gallant Limited |  | Hong Kong |  | August 1, 2014 |  | Holding commercial property in Hong Kong |  |  | 100 | % |  |  | 100 | %
China Light Limited |  | Hong Kong |  | August 8, 2014 |  | Holding commercial property in Hong Kong |  |  | 100 | % |  |  | 100 | %
Leading Prosper Limited |  | Hong Kong |  | March 29, 2014 |  | Holding commercial property in Hong Kong |  |  | 100 | % |  |  | 100 | %
Peace Master Limited |  | Hong Kong |  | March 29, 2014 |  | Holding commercial property in Hong Kong |  |  | 100 | % |  |  | 100 | %
Energys Group Limited |  | The United Kingdom |  | January 30, 2006 |  | Investment holding |  |  | 100 | % |  |  | 100 | %
Energys Services Limited |  | The United Kingdom |  | July 7, 1999 |  | Dormant |  |  | 100 | % |  |  | 100 | %
Harvest Idea Consultant Limited |  | British Virgin Islands |  | July 5, 2011 |  | Dormant |  |  | 100 | % |  |  | 100 | %
Energy Conservation Solutions Limited |  | The United Kingdom |  | August 21, 1998 |  | Provision of enterprise-grade LED lighting and energy management project solutions |  |  | 100 | % |  |  | 100 | %

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- Definition The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/235/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205/tableOfContent + Details
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