REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Roves Solar Farm Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Roves Solar Farm Limited |
Roves Solar Farm Limited (Registered number: 08933024) |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Roves Solar Farm Limited |
Company Information |
for the Year Ended 31 March 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Roves Solar Farm Limited (Registered number: 08933024) |
Balance Sheet |
31 March 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Roves Solar Farm Limited (Registered number: 08933024) |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
Roves Solar Farm Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at fair value of the consideration received or receivable and represents the amount |
receivable for electricity supplied net of discounts and rebates by the company. |
Turnover from the sale of electricity is recognised at the point of sale. Where payments are received from |
customers in advance of electricity supplied the amounts are recognised as deferred income and included as |
part of creditors due within one year. |
Tangible fixed assets |
Land | - |
Equipment | - |
Financial instruments |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad |
and doubtful debts. |
Basic financial liabilities, including trade and other creditors, bank loans, overdrafts and loans from fellow group |
companies, are initially recognised at transaction price. Bank loans and other loans are subsequently carried at |
amortised cost, using the effective interest rate method. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly |
liquid investments with original maturities of three months or less. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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 year end and that are expected to apply to the reversal |
of the timing difference. |
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. |
Roves Solar Farm Limited (Registered number: 08933024) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
3. | ACCOUNTING POLICIES - continued |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary |
shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
Distributions to shareholders |
Dividends and other distributions to company's shareholders are recognised as a liability in the financial |
statements in the period in which the dividends and other distributions are approved by the company's |
shareholders. These amounts are recognised in the statement of changes in equity. |
4. | TANGIBLE FIXED ASSETS |
Land | Equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
and 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost |
includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its |
intended use, dismantling and restoration costs and borrowing costs capitalised. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Tax |
Directors' current accounts | 7,267 | 3,267 |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans (see note 7) |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Roves Solar Farm Limited (Registered number: 08933024) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
7. | LOANS - continued |
2018 | 2017 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Bank loans |
The company's bank loan is secured over its assets. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
Ordinary 1 | £1 | 2 | 2 |
Ordinary B Non Voting | £1 | 2 | 2 |
6 | 6 |
Ordinary shares have full voting, dividend and capital distribution rights attached to them, including on winding |
up of the company. They do not confer any rights of redemption. |
Ordinary 1 shares have full voting, dividend and capital distribution rights attached to them. |
Ordinary B Non Voting share carry not voting rights but may participate in dividends at the discretion of the |
company's directors. Share carry a one third right to capital on winding up of the company. They do not confer |
any rights of redemption. |
10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 April 2017 | 715,955 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 March 2018 | 755,002 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The directors have personally guaranteed the company's bank loan. |
At the year end the company owed the directors £7,267 (2017: £3,267). |
12. | ULTIMATE CONTROLLING PARTY |
The company is under control of its directors. |