Registered number
NI681813
Derrynanny Wind Ltd
Report and Unaudited Accounts
31 March 2023
Derrynanny Wind Ltd
Company Information
Directors
Adrian Martin
Eamonn Martin
Accountants
Tyrone Accountancy Services
8-10 Church Street
Omagh
Co. Tyrone
BT78 1DG
Bankers
Tide
4th Floor, Prologue Works
25 Marsh Street
Bristol
BS1 4AX
Registered office
141 Camlough Road
Carrickmore
Omagh
Co Tyrone
BT79 9BS
Registered number
NI681813
Derrynanny Wind Ltd
Registered number: NI681813
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 327,452 506,579
Current assets
Debtors 4 210,469 13,573
Cash at bank and in hand 6,455 1,099
216,924 14,672
Creditors: amounts falling due within one year 5 (390,532) (216,969)
Net current liabilities (173,608) (202,297)
Total assets less current liabilities 153,844 304,282
Creditors: amounts falling due after more than one year 6 (279,000) (315,000)
Net liabilities (125,156) (10,718)
Capital and reserves
Called up, issued and fully paid share capital 500 500
Profit and loss account (125,656) (11,218)
Shareholders' funds 10 (125,156) (10,718)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006.
The notes on pages 6 to 10 form an integral part of the accounts.
Adrian Martin Eamonn Martin
Director Director
Approved by the board on 27 September 2023 Approved by the board on 27 September 2023
Derrynanny Wind Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are presented in UK Sterling pounds (£)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the generation of electricity and trading of Renewable Obligation Certificates (ROC's). Accrued income is recognised in reference to the date of electricity generation.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Wind turbines 5% straight line
Wind turbines - non-qualfying costs 5% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Wind turbine - non qualifying costs Total
£ £ £ £
Cost
At 1 April 2022 300,000 199,994 17,458 517,452
Additions 27,452 - - 27,452
Disposals - (199,994) (17,458) (217,452)
At 31 March 2023 327,452 - - 327,452
Depreciation
At 1 April 2022 - 10,000 873 10,873
On disposals - (10,000) (873) (10,873)
At 31 March 2023 - - - -
Net book value
At 31 March 2023 327,452 - - 327,452
At 31 March 2022 300,000 189,994 16,585 506,579
4 Debtors 2023 2022
£ £
Trade debtors 10,426 7,968
Deferred tax asset 29,474 2,427
Other debtors 170,569 3,178
210,469 13,573
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 36,000 36,000
Trade creditors 4,577 4,386
Taxes and social security costs 1,225 -
Other creditors 348,730 176,583
390,532 216,969
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 279,000 315,000
7 Provision for liabilities
Deferred Taxation
£
At 1 April 2022 (2,427)
Charged to the profit and loss (27,047)
At 31 March 2023 (29,474)
The provision for deferred taxation is made up as follows:
2023 2022
£ £
Unused losses carried forward 27,047 2,427
27,047 2,427
8 Directors' advances, credits and guarantees
During the year there were no transactions with the directors. The balance at the year end remained nil.

The balances are interest free and repayable on demand.
9 Related party transactions
At the balance sheet date the company had the following balances with related parties:
2023 2022
£ £
MPG Wind Ltd (184,846) (175,833)
Messrs Eamonn and Adrian Martin are directors and persons with significant control in the above companies.

At the balance sheet date the above balances have been reflected in creditors.

The balances are interest free and repayable on demand.
10 Statement of changes in equity
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments.
11 Other information
Derrynanny Wind Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
141 Camlough Road
Carrickmore
Omagh
Co Tyrone
BT79 9BS
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