Company Registration No. NI635651 (Northern Ireland)
Fiord Wind Ltd
Unaudited accounts
for the year ended 31 January 2023
Fiord Wind Ltd
Unaudited accounts
Contents
Fiord Wind Ltd
Company Information
for the year ended 31 January 2023
Company Number
NI635651 (Northern Ireland)
Registered Office
32 Lisbarnet Road
Comber
Down
BT23 6AW
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
Fiord Wind Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
239,784
250,397
Cash at bank and in hand
4,748
2,402
Creditors: amounts falling due within one year
(96,765)
(89,243)
Net current liabilities
(92,017)
(86,841)
Total assets less current liabilities
147,767
163,556
Creditors: amounts falling due after more than one year
(5,222)
(40,691)
Net assets
142,545
122,865
Called up share capital
5,000
5,000
Profit and loss account
137,545
117,865
Shareholders' funds
142,545
122,865
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 September 2023 and were signed on its behalf by
Rosemary Scott
Director
Company Registration No. NI635651
Fiord Wind Ltd
Notes to the Accounts
for the year ended 31 January 2023
Fiord Wind Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI635651. The registered office is 32 Lisbarnet Road , Comber, Down, BT23 6AW, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4% Straight Line
Computer equipment
20% Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Fiord Wind Ltd
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
303,657
-
303,657
At 31 January 2023
305,156
61
305,217
At 1 February 2022
53,260
-
53,260
Charge for the year
12,168
5
12,173
At 31 January 2023
65,428
5
65,433
At 31 January 2023
239,728
56
239,784
At 31 January 2022
250,397
-
250,397
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
25,191
23,978
Trade creditors
3,658
3,084
Taxes and social security
7,089
-
Loans from directors
56,734
60,529
6
Creditors: amounts falling due after more than one year
2023
2022
7
Average number of employees
During the year the average number of employees was 1 (2022: 0).