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REGISTERED NUMBER: 08524400 (England and Wales)















WSE Bradley Road Limited

Financial Statements

for the Year Ended 31 December 2022






WSE Bradley Road Limited (Registered number: 08524400)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WSE Bradley Road Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr M Di Fiore
Mr K M Kim



REGISTERED OFFICE: Bridge House
Old Grantham Road
Whatton
Nottinghamshire
NG13 9FG



REGISTERED NUMBER: 08524400 (England and Wales)



SENIOR STATUTORY AUDITOR: Caroline Peverett BA FCA



AUDITORS: Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG

WSE Bradley Road Limited (Registered number: 08524400)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,044,196 4,091,241

CURRENT ASSETS
Debtors 6 420,667 163,920
Cash at bank 1,220,997 120,737
1,641,664 284,657
CREDITORS
Amounts falling due within one year 7 5,345,244 4,915,639
NET CURRENT LIABILITIES (3,703,580 ) (4,630,982 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,616

(539,741

)

PROVISIONS FOR LIABILITIES 327,628 122,782
NET ASSETS/(LIABILITIES) 12,988 (662,523 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 12,987 (662,524 )
SHAREHOLDERS' FUNDS 12,988 (662,523 )

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 2 February 2024 and were signed on its behalf by:





Mr M Di Fiore - Director


WSE Bradley Road Limited (Registered number: 08524400)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

WSE Bradley Road Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office can be found on the company information page.

The company's presentation currency is pound sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with and comply with the provisions of Section 1A "Small Entities" of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

These accounts have been prepared on the going concern basis due to the fact that the company has the continued support of the group. The directors have been given an assurance that this support will continue for the foreseeable future.

Turnover
Turnover is measured by the sales value of electricity generated from the solar PV array.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation has been charged on the ground-mounted solar PV array project at Bradley Road, Trowbridge which came into operation from April 2016 on a straight line basis, to write off the cost of the asset over 25 years.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

WSE Bradley Road Limited (Registered number: 08524400)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


3. ACCOUNTING POLICIES - continued

Provisions
The company makes a provision for the estimated costs of dismantling and removing the solar park and restoring the land on which it is situated to its original state. The amount of this provision is calculated with reference to the actual costs incurred by other companies within the same group of restoring similar projects to their original state.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5. TANGIBLE FIXED ASSETS
Solar
Park
£   
COST
At 1 January 2022 5,313,359
Additions 165,487
At 31 December 2022 5,478,846
DEPRECIATION
At 1 January 2022 1,222,118
Charge for year 212,532
At 31 December 2022 1,434,650
NET BOOK VALUE
At 31 December 2022 4,044,196
At 31 December 2021 4,091,241

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 315,801 78,474
Other debtors 104,866 85,446
420,667 163,920

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 3,953 1,495
Amounts owed to group undertakings 4,824,872 4,865,927
Taxation and social security 263,776 40,272
Other creditors 252,643 7,945
5,345,244 4,915,639

WSE Bradley Road Limited (Registered number: 08524400)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 20,915 20,907
Between one and five years 111,547 111,504
In more than five years 390,416 418,328
522,878 550,739

The company has committed to paying a community benefit of £1,000 per annum, adjusted for the retail price index, to the local parish council for the remainder of the project.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1 Ordinary £1 1 1

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

The Report of the Auditors was unqualified.

Caroline Peverett BA FCA (Senior Statutory Auditor)
for and on behalf of Tuerner Audit Limited

11. PARENT COMPANY

The directors understand that the parent company for the smallest group for which consolidated accounts are prepared is Q ENERGY Europe GmbH whose registered office is at:
Hildegard-Knef-Platz 3
10829 Berlin
Germany

The ultimate parent company is Hanwha Corporation, incorporated in the Republic of Korea.