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Registration number: 08347880

GF Power Peaking Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2023

 

GF Power Peaking Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

GF Power Peaking Limited

(Registration number: 08347880)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,829,325

2,829,325

Current assets

 

Debtors

1,497,894

500,826

Other financial assets

5

8,263,296

1,183,835

Cash at bank and in hand

 

1,319,976

216,742

 

11,081,166

1,901,403

Creditors: Amounts falling due within one year

(11,109)

(12,565)

Net current assets

 

11,070,057

1,888,838

Net assets

 

13,899,382

4,718,163

Capital and reserves

 

Called up share capital

4,000

4,000

Profit and loss account

13,895,382

4,714,163

Total equity

 

13,899,382

4,718,163

 

GF Power Peaking Limited

(Registration number: 08347880)
Abridged Balance Sheet as at 31 May 2023

For the financial year ending 31 May 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 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 and the option not to file the Profit and Loss Account has been taken.

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

Approved and authorised by the Board on 4 February 2024 and signed on its behalf by:
 

Mr J Taylor

Director

Mrs A M Taylor

Director

 

GF Power Peaking Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

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:
17 The Courtyard
Gorsey Lane
Coleshill
Birmingham
B46 1JA
England

These financial statements were authorised for issue by the Board on 4 February 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investments

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

 

GF Power Peaking Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

Total
£

Cost or valuation

At 1 June 2022

2,829,325

Provision

Carrying amount

At 31 May 2023

2,829,325

At 31 May 2022

2,829,325

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 June 2022

1,183,835

1,183,835

Fair value adjustments

(163,712)

(163,712)

Additions

7,243,173

7,243,173

At 31 May 2023

8,263,296

8,263,296

Carrying amount

At 31 May 2023

8,263,296

8,263,296

 

GF Power Peaking Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

6

Related party transactions

Advances to directors


Mr J Taylor

During the period Mr J Taylor went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £365,367. At the year end the amount outstanding from Mr J Taylor was £180. Interest has been charged at the commercial rate.


Mrs A M Taylor

During the period Mrs A M Taylor went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £235,964. At the year end the amount outstanding from Mrs A M Taylor was £1,214. Interest has been charged at the commercial rate.