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REGISTERED NUMBER: SC430407 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

PORTSONACHAN HYDRO LTD.

PORTSONACHAN HYDRO LTD. (REGISTERED NUMBER: SC430407)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORTSONACHAN HYDRO LTD.

COMPANY INFORMATION
For The Year Ended 31 August 2023







DIRECTORS: Ms M H Brown
A T E Hodge
C A E Hodge
C McGrigor





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC430407 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

PORTSONACHAN HYDRO LTD. (REGISTERED NUMBER: SC430407)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,399 247,287

CURRENT ASSETS
Debtors 5 35,905 60,666
Prepayments and accrued income 4,125 3,788
Cash at bank 21,432 28,449
61,462 92,903
CREDITORS
Amounts falling due within one year 6 44,311 34,768
NET CURRENT ASSETS 17,151 58,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

258,550

305,422

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 258,546 305,418
SHAREHOLDERS' FUNDS 258,550 305,422

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 11 April 2024 and were signed on its behalf by:



C McGrigor - Director


PORTSONACHAN HYDRO LTD. (REGISTERED NUMBER: SC430407)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2023

1. STATUTORY INFORMATION

Portsonachan Hydro Ltd. 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.

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.
Hydro scheme - 2% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

PORTSONACHAN HYDRO LTD. (REGISTERED NUMBER: SC430407)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Hydro
scheme
£   
COST
At 1 September 2022
and 31 August 2023 294,391
DEPRECIATION
At 1 September 2022 47,104
Charge for year 5,888
At 31 August 2023 52,992
NET BOOK VALUE
At 31 August 2023 241,399
At 31 August 2022 247,287

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,905 60,666

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,247 3,898
Taxation and social security 36,586 28,282
Other creditors 3,478 2,588
44,311 34,768