0 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 361,257 147,827 21,343 169,170 192,087 213,430 xbrli:pure xbrli:shares iso4217:GBP SC560299 2022-05-01 2023-04-30 SC560299 2023-04-30 SC560299 2022-04-30 SC560299 2022-04-30 SC560299 core:PlantMachinery 2022-05-01 2023-04-30 SC560299 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC560299 bus:Director1 2022-05-01 2023-04-30 SC560299 core:PlantMachinery 2022-04-30 SC560299 core:PlantMachinery 2023-04-30 SC560299 core:WithinOneYear 2023-04-30 SC560299 core:WithinOneYear 2022-04-30 SC560299 core:ShareCapital 2023-04-30 SC560299 core:ShareCapital 2022-04-30 SC560299 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC560299 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC560299 core:PlantMachinery 2022-04-30 SC560299 bus:SmallEntities 2022-05-01 2023-04-30 SC560299 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC560299 bus:FullAccounts 2022-05-01 2023-04-30 SC560299 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 SC560299 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC560299 bus:OrdinaryShareClass1 2023-04-30 SC560299 bus:OrdinaryShareClass1 2022-04-30 SC560299 1 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: SC560299
Dungarthill Heat Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2023
Dungarthill Heat Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
192,087
213,430
Current assets
Stocks
2,200
3,000
Debtors
6
3,766
3,826
Cash at bank and in hand
5,291
5,000
--------
--------
11,257
11,826
Creditors: amounts falling due within one year
7
338,982
339,486
---------
---------
Net current liabilities
327,725
327,660
---------
---------
Total assets less current liabilities
( 135,638)
( 114,230)
Provisions
28,055
29,999
---------
---------
Net liabilities
( 163,693)
( 144,229)
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 163,793)
( 144,329)
---------
---------
Shareholders deficit
( 163,693)
( 144,229)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dungarthill Heat Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 3 October 2023 , and are signed on behalf of the board by:
Marzio Keiling
Director
Company registration number: SC560299
Dungarthill Heat Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dungarthill House, Dungarthill, Dunkeld, PH8 0JE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
No employees were employed by the company during the year (2022 - nil).
4. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company had a deficiency of assets at the balance sheet date, however this is wholly covered by amounts owed to the parent company, AJN Land Scotland PTE Ltd, and there are no plans for these funds to be withdrawn to the detriment of the company. Therefore, the director considers it appropriate to prepare the accounts on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the supply of biomass heating, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks of wood pellets are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities are classified as basic financial instruments - cash at bank, accruals and an intercompany loan. Cash at bank is measured at the transaction amount held at the bank. Accruals are measured at the expected transaction amount. Intercompany loans are initially measured at the transaction amount and subsequently at amortised cost.
5. Tangible assets
Plant and machinery
£
Cost
At 1 May 2022 and 30 April 2023
361,257
---------
Depreciation
At 1 May 2022
147,827
Charge for the year
21,343
---------
At 30 April 2023
169,170
---------
Carrying amount
At 30 April 2023
192,087
---------
At 30 April 2022
213,430
---------
6. Debtors
2023
2022
£
£
Other debtors
3,766
3,826
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
335,500
335,500
Social security and other taxes
2,682
Other creditors
800
3,986
---------
---------
338,982
339,486
---------
---------
Included within 'amounts owed to group undertakings' is a loan due to AJN Land Scotland PTE Ltd, the parent company of Dungarthill Heat Limited . This loan is interest free and is repayable on demand.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Controlling party
The company is a wholly owned subsidiary of AJN Land Scotland PTE Ltd . The registered office address of this company is Dungarthill House, Dungarthill, PH8 0JE . The ultimate parent company is Country Squire Corporation , a company registered in the British Virgin Islands. The registered office address of the ultimate parent company is Ritter House Wickams, Cay II, Road Town, Tortola, British Virgin Islands, VG1110 . The ultimate controlling party is Marzio Keilling .