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Registration number: 07768581

WiseEnergy International Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2022

 

WiseEnergy International Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

WiseEnergy International Limited

(Registration number: 07768581)
Abridged Balance Sheet as at 31 December 2022

Note

31 December
2022
£

31 December
2021
£

Fixed assets

 

Investments

5

1,167,264

858,626

Current assets

 

Debtors

1,032,381

54,269

Cash at bank and in hand

 

9,724

3,424

 

1,042,105

57,693

Prepayments and accrued income

 

-

9,135

Creditors: Amounts falling due within one year

(1,851,862)

(528,211)

Net current liabilities

 

(809,757)

(461,383)

Total assets less current liabilities

 

357,507

397,243

Accruals and deferred income

 

(13,073)

(1,944)

Net assets

 

344,434

395,299

Capital and reserves

 

Called up share capital

6

20,001

20,001

Share premium reserve

1,980,000

1,980,000

Retained earnings

(1,655,567)

(1,604,702)

Shareholders' funds

 

344,434

395,299

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2023 and signed on its behalf by:
 

 

WiseEnergy International Limited

(Registration number: 07768581)
Abridged Balance Sheet as at 31 December 2022

.........................................
Mr A Beolchini
Director

 

WiseEnergy International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
75 Grosvenor Street,
London
W1K3JS
United Kingdom

These financial statements were authorised for issue by the Board on 4 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

WiseEnergy International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

 

WiseEnergy International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

15,750

15,750

At 31 December 2022

15,750

15,750

Depreciation

At 1 January 2022

15,750

15,750

At 31 December 2022

15,750

15,750

Carrying amount

At 31 December 2022

-

-

5

Investments

Total
£

Cost or valuation

At 1 January 2022

858,626

Additions

308,638

At 31 December 2022

1,167,264

Provision

Carrying amount

At 31 December 2022

1,167,264

At 31 December 2021

858,626

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

2021

Subsidiary undertakings

WiseEnergy Italia S.r.l

Via San Marco, 21, 20121,
Milano

Italy

Ordinary

100%

100%

 

WiseEnergy International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

WiseEnergy (GB) Ltd

5th Floor, North Side
7/10 Chandos Street
London W1G 9DQ

United Kingdom

Ordinary

100%

100%

WiseEnergy US Inc

Trolley Square, Suite 20 C,
Wilmington 19806,
Delaware

United States

Ordinary

100%

100%

WiseEnergy Iberia SL

Cl. Jose Ortega Y Gasset 225,
28001 Madrid

Spain

Ordinary

100%

100%

WEI (WiseEnergy India) Pvt Ltd

02A104, 02A105, 02A107, WeWork, Krishe Emerald
Kondhapur Main Road, Laxmi Cyber City, Whitefields, Kondapur
Hyderabad
Telangana 500081

India

Ordinary

100%

100%

WiseEnergy Poland Sp.z.o.o

C/O HK Finance Sp z.o.o.
Olivia Business Centre, Al. Grunwaldzka 472B
80-309 Gdansk

Poland

Ordinary

100%

0%

WEP - Energias Renovaveis, Unipessoal LDA

Avenida António Augusto Aguiar, nº 19, 4º Dto, Sala B
1050 012
lisbon

Portugal

Ordinary

100%

0%

Subsidiary undertakings

WiseEnergy Italia S.r.l

The principal activity of WiseEnergy Italia S.r.l is asset management services in the renewable energy sector.

WiseEnergy (GB) Ltd

The principal activity of WiseEnergy (GB) Ltd is asset management services in the renewable energy sector.

WiseEnergy US Inc

The principal activity of WiseEnergy US Inc is asset management services in the renewable energy sector.

 

WiseEnergy International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

WiseEnergy Iberia SL

The principal activity of WiseEnergy Iberia SL is asset management services in the renewable energy sector.

WEI (WiseEnergy India) Pvt Ltd

The principal activity of WEI (WiseEnergy India) Pvt Ltd is that of asset management of Solar plant in India..

WiseEnergy Poland Sp.z.o.o

The principal activity of WiseEnergy Poland Sp.z.o.o is asset management services in the renewable energy sector.

WEP - Energias Renovaveis, Unipessoal LDA

The principal activity of WEP - Energias Renovaveis, Unipessoal LDA is asset management services in the renewable energy sector.

6

Share capital

Allotted, called up and fully paid shares

 

31 December
2022

31 December
2021

 

No.

£

No.

£

Ordinary of £1 each

20,001

20,001

20,001

20,001