Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31Holding company2021-01-01false00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI622943 2021-01-01 2021-12-31 NI622943 2020-01-01 2020-12-31 NI622943 2021-12-31 NI622943 2020-12-31 NI622943 c:Director1 2021-01-01 2021-12-31 NI622943 c:Director2 2021-01-01 2021-12-31 NI622943 c:Director3 2021-01-01 2021-12-31 NI622943 c:Director4 2021-01-01 2021-12-31 NI622943 c:Director5 2021-01-01 2021-12-31 NI622943 c:Director5 2021-12-31 NI622943 c:RegisteredOffice 2021-01-01 2021-12-31 NI622943 d:CurrentFinancialInstruments 2021-12-31 NI622943 d:CurrentFinancialInstruments 2020-12-31 NI622943 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 NI622943 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 NI622943 d:ShareCapital 2021-12-31 NI622943 d:ShareCapital 2020-12-31 NI622943 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 NI622943 d:RetainedEarningsAccumulatedLosses 2021-12-31 NI622943 d:RetainedEarningsAccumulatedLosses 2020-12-31 NI622943 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 NI622943 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 NI622943 c:OrdinaryShareClass1 2021-01-01 2021-12-31 NI622943 c:OrdinaryShareClass1 2021-12-31 NI622943 c:OrdinaryShareClass1 2020-12-31 NI622943 c:FRS102 2021-01-01 2021-12-31 NI622943 c:Audited 2021-01-01 2021-12-31 NI622943 c:FullAccounts 2021-01-01 2021-12-31 NI622943 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 NI622943 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 NI622943 2 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: NI622943










TEEMORE WIND LIMITED

AUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2021
 

















 
TEEMORE WIND LIMITED
 

COMPANY INFORMATION


Directors
Mrs S J Johnston 
Mr P W Kent 
Mr N S Parker 
Mr R A J Wright 
Mr S C J Ellis (resigned 16 August 2021)




Registered number
NI622943



Registered office
42-46 Fountain Street

Belfast

Northern Ireland

BT1 5EF




Independent auditors
Wellden Turnbull Limited
Chartered Accountants & Statutory Auditors

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
TEEMORE WIND LIMITED
 

CONTENTS



Page
Balance sheet
 
 
1
Notes to the financial statements
 
 
2 - 5


 
TEEMORE WIND LIMITED
REGISTERED NUMBER: NI622943

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
121,167
120,000

Cash at bank and in hand
  
-
46,005

  
121,167
166,005

Creditors: amounts falling due within one year
 7 
(6,600)
(6,850)

Net current assets
  
 
 
114,567
 
 
159,155

Total assets less current liabilities
  
114,567
159,155

  

Net assets
  
114,567
159,155


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
 10 
114,566
159,154

  
114,567
159,155


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr P W Kent
Director

Date: 12 August 2022

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
TEEMORE WIND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Teemore Wind Limited is a private company, limited by shares and incorporated in Northern Ireland, registration number NI622943. The registered office is 42-46 Fountain Street, Belfast, Northern Ireland, BT1 5EF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

These financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Going concern

The Company was profit making in the period and is in a net asset position at the year end date. The financial statements have been prepared on a going concern basis which means that the Company can be expected to meet its liabilities as they fall due for a period of 12 months from the date of signing these financial statements. In assessing the appropriateness of the going concern basis of preparation the Directors have taken into account the key risks of the business, including the Company’s business model and the availability of cash resources.
The Company previously acted as a holding company to Mantlin Limited, a company which owns and operates a wind farm. In the prior year, as part of a group wide restructure, ownership of Mantlin Limited and the related assets and liabilities were transferred to another group undertaking. The Company is not expected to generate any further revenue. These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.
Nonetheless, the Directors continue to believe it is appropriate to prepare the financial statements on a going concern basis as the intention is to keep the Company in operation for more than 12 months from the date of signing these financial statements. Further, the Directors cite a letter of support received from the Company's  parent.
On this basis the Directors consider it is appropriate to prepare the financial statements on a going concern basis.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
TEEMORE WIND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
TEEMORE WIND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make judgements, estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.


4.


Employees

In the current and prior year the Company had no employees, other than its Directors, who did not receive any remuneration.


5.


Auditors' remuneration

The Company has taken advantage of the exemption not to disclose amounts paid for non audit services as these are disclosed in the group accounts of the parent company.


6.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
120,000
-

Other debtors
-
120,000

Prepayments and accrued income
1,167
-

121,167
120,000


Amounts owed by group undertakings are interest free and repayable on demand.


7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Accruals
6,600
6,850



8.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
-
46,005




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 4

 
TEEMORE WIND LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 - 1) Ordinary share of £1.00
1
1



10.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


11.


Related party transactions

The Company is exempt under the terms of Financial Reporting Standard 102 (FRS102) Section 33 paragraph 1A, from disclosing related party transactions with other group companies, on the grounds that the Company is wholly owned within the Group and the Company is included in the consolidated financial statements prepared by the Group.


12.


Controlling party

The Company's immediate and ultimate parent company is Gravis Asset Holdings Limited, a company incorporated in England and Wales.
The smallest and largest group of undertakings into which the results of the Company are consolidated is headed by Gravis Asset Holdings Limited.
The registered office address of Gravis Asset Holdings Limited is 24 Savile Row, London, United Kingdom, W1S 2ES. The consolidated financial statements are available from the registered office address and Companies House.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

Material uncertainty related to going concern
We draw attention to note 2.3 in the financial statements, which sets out the position of the Company with respect of going concern. As stated in note 2.3, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

The audit report was signed on 12 August 2022 by Mark Nelligan FCA (Senior statutory auditor) on behalf of Wellden Turnbull Limited.


Page 5