Silverfin false 31/05/2023 01/06/2022 31/05/2023 Julie McCutcheon 20/05/2014 David Ross 20/05/2014 Henry Ross 20/05/2014 Linda Ross 20/05/2014 19 February 2024 The principal activity of the Company during the financial year continued to be the operation of a single wind turbine for the generation of electricity. SC478024 2023-05-31 SC478024 bus:Director1 2023-05-31 SC478024 bus:Director2 2023-05-31 SC478024 bus:Director3 2023-05-31 SC478024 bus:Director4 2023-05-31 SC478024 2022-05-31 SC478024 core:CurrentFinancialInstruments 2023-05-31 SC478024 core:CurrentFinancialInstruments 2022-05-31 SC478024 core:Non-currentFinancialInstruments 2023-05-31 SC478024 core:Non-currentFinancialInstruments 2022-05-31 SC478024 core:ShareCapital 2023-05-31 SC478024 core:ShareCapital 2022-05-31 SC478024 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC478024 core:RetainedEarningsAccumulatedLosses 2022-05-31 SC478024 core:PlantMachinery 2022-05-31 SC478024 core:OtherPropertyPlantEquipment 2022-05-31 SC478024 core:PlantMachinery 2023-05-31 SC478024 core:OtherPropertyPlantEquipment 2023-05-31 SC478024 bus:OrdinaryShareClass1 2023-05-31 SC478024 bus:OrdinaryShareClass2 2023-05-31 SC478024 bus:OrdinaryShareClass3 2023-05-31 SC478024 2022-06-01 2023-05-31 SC478024 bus:FullAccounts 2022-06-01 2023-05-31 SC478024 bus:SmallEntities 2022-06-01 2023-05-31 SC478024 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 SC478024 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC478024 bus:Director1 2022-06-01 2023-05-31 SC478024 bus:Director2 2022-06-01 2023-05-31 SC478024 bus:Director3 2022-06-01 2023-05-31 SC478024 bus:Director4 2022-06-01 2023-05-31 SC478024 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 SC478024 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-06-01 2023-05-31 SC478024 2021-06-01 2022-05-31 SC478024 core:PlantMachinery 2022-06-01 2023-05-31 SC478024 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 SC478024 core:CurrentFinancialInstruments 2022-06-01 2023-05-31 SC478024 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 SC478024 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC478024 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 SC478024 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 SC478024 bus:OrdinaryShareClass2 2021-06-01 2022-05-31 SC478024 bus:OrdinaryShareClass3 2022-06-01 2023-05-31 SC478024 bus:OrdinaryShareClass3 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC478024 (Scotland)

CNW TURBINE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

CNW TURBINE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

CNW TURBINE LTD

BALANCE SHEET

AS AT 31 MAY 2023
CNW TURBINE LTD

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 213,439 226,452
213,439 226,452
Current assets
Debtors 4 15,201 13,712
Cash at bank and in hand 91,093 62,976
106,294 76,688
Creditors: amounts falling due within one year 5 ( 67,850) ( 61,900)
Net current assets 38,444 14,788
Total assets less current liabilities 251,883 241,240
Creditors: amounts falling due after more than one year 6 ( 28,668) ( 60,959)
Provision for liabilities 7 ( 49,535) ( 51,948)
Net assets 173,680 128,333
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 173,480 128,133
Total shareholders' funds 173,680 128,333

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.

Directors' responsibilities:

The financial statements of CNW Turbine Ltd (registered number: SC478024) were approved and authorised for issue by the Director on 19 February 2024. They were signed on its behalf by:

Henry Ross
Director
CNW TURBINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
CNW TURBINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CNW Turbine Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Craigwillie, Farm, Huntly, AB54 4QT, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the amounts receivable from the sale of electricity, net of VAT. Turnover is recognised on the accrual basis at the point the electricity is generated.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 years straight line
Other property, plant and equipment 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings. No impairments were noted this year.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Other property, plant
and equipment
Total
£ £ £
Cost
At 01 June 2022 310,339 12,000 322,339
At 31 May 2023 310,339 12,000 322,339
Accumulated depreciation
At 01 June 2022 92,587 3,300 95,887
Charge for the financial year 12,413 600 13,013
At 31 May 2023 105,000 3,900 108,900
Net book value
At 31 May 2023 205,339 8,100 213,439
At 31 May 2022 217,752 8,700 226,452

4. Debtors

2023 2022
£ £
Other debtors 15,201 13,712

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 31,833 31,375
Trade creditors 0 3,378
Corporation tax 14,604 10,528
Other taxation and social security 1,267 593
Other creditors 20,146 16,026
67,850 61,900

The bank loan is secured by a floating charge over all assets of the company.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 28,668 60,959

The bank loan is secured by a floating charge over all assets of the company.

7. Provision for liabilities

2023 2022
£ £
Deferred tax 49,535 51,948

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A Ordinary Shares shares of £ 1.00 each 50 50
50 B Ordinary Shares shares of £ 1.00 each 50 50
100 Ordinary Shares shares of £ 1.00 each 100 100
200 200