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REGISTERED NUMBER: 11978664 (England and Wales)










Financial Statements

For The Year Ended 30 June 2023

for

Lowther Renewables Ltd

Lowther Renewables Ltd (Registered number: 11978664)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lowther Renewables Ltd

Company Information
For The Year Ended 30 June 2023







DIRECTORS: A J I Lowther
Mrs A K M Lowther





REGISTERED OFFICE: The Factory
Whitchurch
Ross-on-Wye
Herefordshire
HR9 6DF





REGISTERED NUMBER: 11978664 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Lowther Renewables Ltd (Registered number: 11978664)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,028,853 1,085,400

CURRENT ASSETS
Debtors 5 222,668 211,529
Cash at bank 310,922 208,569
533,590 420,098
CREDITORS
Amounts falling due within one year 6 1,302,289 1,281,447
NET CURRENT LIABILITIES (768,699 ) (861,349 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,154

224,051

PROVISIONS FOR LIABILITIES 255,951 188,893
NET ASSETS 4,203 35,158

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,202 35,157
4,203 35,158

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





A J I Lowther - Director


Lowther Renewables Ltd (Registered number: 11978664)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Lowther Renewables Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts received or receivable for the supply of electricity, net of value added tax and arises solely in the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Components of the solar farm are depreciated over the expected
useful life of between 10 and 25 years.

Lowther Renewables Ltd (Registered number: 11978664)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank and loans from related companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Lowther Renewables Ltd (Registered number: 11978664)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2022
and 30 June 2023 1,113,674
DEPRECIATION
At 1 July 2022 28,274
Charge for year 56,547
At 30 June 2023 84,821
NET BOOK VALUE
At 30 June 2023 1,028,853
At 30 June 2022 1,085,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 17,155
Amounts owed by group undertakings 204,400 185,958
Prepayments and accrued income 18,268 8,416
222,668 211,529

Lowther Renewables Ltd (Registered number: 11978664)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 2,014 1,853
Amounts owed to group undertakings 1,268,664 1,268,538
Corporation tax 23,599 -
Social security and other taxes 5,212 8,556
Accruals and deferred income 2,800 2,500
1,302,289 1,281,447

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Baily (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited

8. ULTIMATE CONTROLLING PARTY

Due to his controlling interest in the ultimate parent company A J I Lowther is considered to be the controlling party behind the company.

9. CONSOLIDATED GROUP ACCOUNTS

Lowther Holdings Limited, the parent company of Lowther Renewables Limited, prepare consolidated financial statements.

Information regarding the consolidated financial statements of Lowther Holdings Limited can be obtained from its registered office The Factory, Whitchurch, Ross-on-Wye, United Kingdom, HR9 6DF.