Piper Power Ventures Limited 08917245 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a wind farm. Digita Accounts Production Advanced 6.30.9574.0 true true 08917245 2022-04-01 2023-03-31 08917245 2023-03-31 08917245 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 08917245 core:RetainedEarningsAccumulatedLosses 2023-03-31 08917245 core:ShareCapital 2023-03-31 08917245 core:CurrentFinancialInstruments 2023-03-31 08917245 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08917245 core:Non-currentFinancialInstruments 2023-03-31 08917245 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08917245 core:PlantMachinery 2023-03-31 08917245 bus:SmallEntities 2022-04-01 2023-03-31 08917245 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08917245 bus:FullAccounts 2022-04-01 2023-03-31 08917245 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08917245 bus:RegisteredOffice 2022-04-01 2023-03-31 08917245 bus:Director1 2022-04-01 2023-03-31 08917245 bus:Director2 2022-04-01 2023-03-31 08917245 bus:Director3 2022-04-01 2023-03-31 08917245 bus:Director4 2022-04-01 2023-03-31 08917245 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-04-01 2023-03-31 08917245 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08917245 core:PlantMachinery 2022-04-01 2023-03-31 08917245 countries:AllCountries 2022-04-01 2023-03-31 08917245 2022-03-31 08917245 core:PlantMachinery 2022-03-31 08917245 2021-04-01 2022-03-31 08917245 2022-03-31 08917245 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-03-31 08917245 core:RetainedEarningsAccumulatedLosses 2022-03-31 08917245 core:ShareCapital 2022-03-31 08917245 core:CurrentFinancialInstruments 2022-03-31 08917245 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 08917245 core:Non-currentFinancialInstruments 2022-03-31 08917245 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 08917245 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Piper Power Ventures Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2023

 

Piper Power Ventures Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Piper Power Ventures Limited

Company Information

Directors

Mr S J Piper

Mrs S Piper

Mr DJ Piper

Mr E Piper

Registered office

Valley View
Tregustick Farm
Withiel
Bodmin
Cornwall
PL30 5NG

Registered number

08917245 (England & Wales)

Accountants

Alexander & Co
AAT Licenced Accountant
Schooners Business Park
Bess Park Road
Wadebridge
Cornwall
PL27 6HB

 

Piper Power Ventures Limited

(Registration number: 08917245)
Balance Sheet as at 31 March 2023

Note

2023

2022

   

£

£

£

£

fixed assets

   

 

tangible assets

4

 

162,424

 

177,087

Current assets

   

 

Debtors

5

-

 

1,984

 

Cash at bank and in hand

 

2,221

 

489

 

 

2,221

 

2,473

 

Creditors: Amounts falling due within one year

6

(136,644)

 

(186,612)

 

Net current liabilities

   

(134,423)

 

(184,139)

Total assets less current liabilities

   

28,001

 

(7,052)

Creditors: Amounts falling due after more than one year

6

 

-

 

(11,116)

Net assets/(liabilities)

   

28,001

 

(18,168)

capital and reserves

   

 

Called up share capital

7

100

 

100

 

Profit and loss account

27,901

 

(18,268)

 

Total equity

   

28,001

 

(18,168)

For the financial year ending 31 March 2023 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.

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.

 

Piper Power Ventures Limited

(Registration number: 08917245)
Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 1 November 2023

and signed on its behalf by:
 

.........................................

Mr S J Piper
Director

 

Piper Power Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Valley View
Tregustick Farm
Withiel
Bodmin
Cornwall
PL30 5NG

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5% on cost

 

Piper Power Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 4 (2022 - 4).

 

Piper Power Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

293,274

293,274

At 31 March 2023

293,274

293,274

Depreciation

At 1 April 2022

116,187

116,187

Charge for the year

14,663

14,663

At 31 March 2023

130,850

130,850

Carrying amount

At 31 March 2023

162,424

162,424

At 31 March 2022

177,087

177,087

5

Debtors

Current

2023
£

2022
£

Other debtors

-

1,984

 

Piper Power Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

11,116

25,757

Trade creditors

 

-

22,755

Taxation and social security

 

875

6,654

Accruals and deferred income

 

2,013

1,928

Other creditors

 

122,640

129,518

 

136,644

186,612

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

11,116

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

11,116

2023
£

2022
£

Current loans and borrowings

Bank borrowings

11,116

25,757