REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
FOR |
GARDA SOLAR LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
FOR |
GARDA SOLAR LIMITED |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GARDA SOLAR LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
BALANCE SHEET |
31 MARCH 2023 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
BALANCE SHEET - continued |
31 MARCH 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Garda Solar Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, |
estimates and assumptions that affect the application of accounting policies and reported |
amounts of assets, liabilities, income and expenses. Actual results may differ from these |
estimates. |
Estimates and underlying assumptions are reviewed on an on-going basis. Estimates are |
based on historical experience and other assumptions that are considered reasonable in the |
circumstances. The actual amount or values may vary in certain instances from the |
assumptions and estimates made. Changes will be recorded, with corresponding effect in |
profit or loss, when, and if, better information is obtained. |
Information about assumptions and estimation uncertainties that have a significant risk of |
resulting in a material adjustment within the next financial year are included below. Critical |
judgements that management has made in the process of applying accounting policies |
disclosed herein and that have a significant effect on the amounts recognised in the financial |
statements relates to the following: |
Going concern |
The directors have reviewed the performance of the Company during the year as set out in |
these accounts and, after taking account of possible changes that can reasonable be |
envisaged in trading performance, have considered the cash flow forecasts and future |
liquidity requirements of the company. |
Having regard to the above and after making enquires the directors have a reasonable |
expectation that the Company has adequate resources to continue in operational existence |
for at least 12 months from the date of signing the accounts. Accordingly, they continue to |
adopt the going concern basis in preparing the annual report and accounts. |
Useful lives of depreciable assets |
Management reviews its estimate of the useful lives of depreciable assets at each reporting date, |
based on the expected utility of the assets. |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are stated at cost net of depreciation and any provision for impairment. |
Depreciation commences on the date that the asset is brought into use. |
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. |
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 |
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 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. Financial assets classified as receivable |
within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, 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 payments discounted at a market rate of |
interest. Financial liabilities classified as payable within one year are not amortised. |
Taxation |
Taxation for the period 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. |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 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 period 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 period was NIL. |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
VAT debtor |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Amounts owed to group undertakings |
GARDA SOLAR LIMITED (REGISTERED NUMBER: 14011475) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 MARCH 2022 TO 31 MARCH 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 1 |
9. | RESERVES |
Retained |
earnings |
£ |
Deficit for the period | ( |
) |
At 31 March 2023 | ( |
) |
10. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is Grande Lago Holdco Limited, a company incorporated in |
England and wales. |
The Company's ultimate parent and controlling entity is Bagnall Energy Limited, a company |
incorporated in England and Wales. The consolidated financial statements of Bagnall Energy |
Limited can be obtained from that company's registered office: 6th Floor, St Magnus House, 3 |
Lower Thames Street, London, England, EC3R 6HD |