Caseware UK (AP4) 2022.0.179 2022.0.179 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-01truefalseProduction of electricity00true 11048921 2022-12-01 2023-11-30 11048921 2021-12-01 2022-11-30 11048921 2023-11-30 11048921 2022-11-30 11048921 c:Director2 2022-12-01 2023-11-30 11048921 d:PlantMachinery 2022-12-01 2023-11-30 11048921 d:PlantMachinery 2023-11-30 11048921 d:PlantMachinery 2022-11-30 11048921 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11048921 d:ComputerEquipment 2022-12-01 2023-11-30 11048921 d:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 11048921 d:OtherPropertyPlantEquipment 2023-11-30 11048921 d:OtherPropertyPlantEquipment 2022-11-30 11048921 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11048921 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11048921 d:CurrentFinancialInstruments 2023-11-30 11048921 d:CurrentFinancialInstruments 2022-11-30 11048921 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11048921 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11048921 d:ShareCapital 2023-11-30 11048921 d:ShareCapital 2022-11-30 11048921 d:RetainedEarningsAccumulatedLosses 2023-11-30 11048921 d:RetainedEarningsAccumulatedLosses 2022-11-30 11048921 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 11048921 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 11048921 c:FRS102 2022-12-01 2023-11-30 11048921 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11048921 c:FullAccounts 2022-12-01 2023-11-30 11048921 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11048921 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure
Registered number: 11048921









KLT RENEWABLES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
KLT RENEWABLES LIMITED
REGISTERED NUMBER: 11048921

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,488,659
1,978,415

  
2,488,659
1,978,415

Current assets
  

Debtors: amounts falling due within one year
 5 
436,309
206,440

Cash at bank and in hand
  
281,861
347,908

  
718,170
554,348

Creditors: amounts falling due within one year
 6 
(1,016,514)
(239,484)

Net current (liabilities)/assets
  
 
 
(298,344)
 
 
314,864

Total assets less current liabilities
  
2,190,315
2,293,279

Provisions for liabilities
  

Deferred tax
 7 
(243,295)
(265,006)

Net assets
  
1,947,020
2,028,273


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,947,019
2,028,272

  
1,947,020
2,028,273


Page 1

 
KLT RENEWABLES LIMITED
REGISTERED NUMBER: 11048921

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 April 2024.




T Littlewood
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KLT RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

KLT Renewables Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 11048921. The address of the registered office is Riverside Industrial Estate, Estuary Road, King's Lynn, Norfolk, PE30 2HS.
The financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors are continually assessing the impact of the current economic climate. They have not encountered any significant adverse impacts as a result, and have traded profitably. Therefore, the directors deem it appropriate to prepare the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KLT RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KLT RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Wind Turbine
-
15 years
Solar Array
-
19 years
Other plant and machinery
-
10 - 15 years
Assets in course of construction
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

The average monthly number of employees during the year was 0 (2022 - 0).

Page 5

 
KLT RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Wind Turbine and Solar Array
Assets in course of construction
Total

£
£
£



Cost or valuation


At 1 December 2022
2,830,392
-
2,830,392


Additions
-
680,769
680,769



At 30 November 2023

2,830,392
680,769
3,511,161



Depreciation


At 1 December 2022
851,977
-
851,977


Charge for the year on owned assets
170,525
-
170,525



At 30 November 2023

1,022,502
-
1,022,502



Net book value



At 30 November 2023
1,807,890
680,769
2,488,659



At 30 November 2022
1,978,415
-
1,978,415


5.


Debtors

2023
2022
£
£


Trade debtors
7,777
62,638

Other debtors
122,522
-

Called up share capital not paid
-
1

Prepayments and accrued income
306,010
143,801

436,309
206,440


Page 6

 
KLT RENEWABLES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
25,513
23,773

Amounts owed to group undertakings
71,753
71,753

Corporation tax
122,168
108,779

Other taxation and social security
-
29,690

Other creditors
792,500
-

Accruals and deferred income
4,580
5,489

1,016,514
239,484


Other creditors consist entirely of a directors loan which is unsecured and interest-free.


7.


Deferred taxation




2023


£






At beginning of year
265,006


Charged to profit or loss
(21,711)



At end of year
243,295

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
243,295
265,006


8.


Controlling party

The ultimate parent undertaking is TN Renewables Limited, which in turn is controlled jointly by T and N Littlewood.


Page 7