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REGISTERED NUMBER: SC596214 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Lockerbie Biogas Limited

Lockerbie Biogas Limited (Registered number: SC596214)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lockerbie Biogas Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: M A O'Dowd
D Gaffney
R Boyd





REGISTERED OFFICE: 3rd Floor, Suite 2
Ink Building
24 Douglas Street
Glasgow
G2 7NQ





REGISTERED NUMBER: SC596214 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Lockerbie Biogas Limited (Registered number: SC596214)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,367,640 14,481,256

CURRENT ASSETS
Debtors 5 640,109 150,584
Cash at bank and in hand 283,985 347,151
924,094 497,735
CREDITORS
Amounts falling due within one year 6 (617,966 ) (27,197 )
NET CURRENT ASSETS 306,128 470,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,673,768

14,951,794

CREDITORS
Amounts falling due after more than one
year

7

(16,305,798

)

(14,856,425

)
NET ASSETS 367,970 95,369

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 367,870 95,269
367,970 95,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lockerbie Biogas Limited (Registered number: SC596214)

Balance Sheet - continued
31 May 2023


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 4 April 2024 and were signed on its behalf by:





M A O'Dowd - Director


Lockerbie Biogas Limited (Registered number: SC596214)

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

1. STATUTORY INFORMATION

Lockerbie Biogas Limited is a private company, limited by shares , registered in Scotland. 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.

The accounts were prepared on a going concern basis given the ongoing support of the company's directors and funders.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - no depreciation was charged during the year as the asset was still under construction.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Lockerbie Biogas Limited (Registered number: SC596214)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 14,481,256
Additions 1,886,384
At 31 May 2023 16,367,640
NET BOOK VALUE
At 31 May 2023 16,367,640
At 31 May 2022 14,481,256

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2022 14,481,256
Additions 1,886,384
At 31 May 2023 16,367,640
NET BOOK VALUE
At 31 May 2023 16,367,640
At 31 May 2022 14,481,256

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 640,109 150,584

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 291,943 -
Other creditors 326,023 27,197
617,966 27,197

Lockerbie Biogas Limited (Registered number: SC596214)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 16,305,798 14,856,425

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 16,305,798 14,856,425

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 16,305,798 14,856,425

The Hire purchase creditor is secured over the asset to which it relates.

9. CAPITAL COMMITMENTS
31.5.23 31.5.22
£    £   
Contracted but not provided for in the
financial statements 852,438 1,038,438